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    Luke Hannan

    Research Analyst at Canaccord Genuity Group Inc.

    Luke Hannan is Vice President and Equity Research Analyst at Canaccord Genuity Group Inc., specializing in Consumer Products and Retail, with a particular focus on the apparel manufacturing sector. He covers companies such as Gildan Activewear and has delivered strong performance metrics, including a 100% success rate with an average return of 44.37% and rankings in the top third of analysts on leading platforms. Hannan began his career at a major national accounting firm before transitioning to equity research and has been with Canaccord for roughly 1.5 years. He holds professional credentials in financial analysis and is known for his intellectual rigor, work ethic, and commitment to helping others.

    Luke Hannan's questions to BRP (DOOO) leadership

    Luke Hannan's questions to BRP (DOOO) leadership • Q2 2026

    Question

    Luke Hannan of Canaccord Genuity asked if the normalized EBITDA margin target of around 17% has changed following the marine business divestiture. He also inquired about the historical fluctuation of dealer credit line utilization and the current product mix of utility side-by-sides.

    Answer

    CFO Sébastien Martel stated that the 17% EBITDA margin target is still very much achievable and perhaps even more so without the marine business. He noted dealer credit utilization is at a very healthy level and will fluctuate seasonally. CEO José Boisjoli confirmed that utility vehicles represent about two-thirds of BRP's side-by-side volume, consistent with the industry, and sees significant opportunity there with the new Defender.

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    Luke Hannan's questions to BRP (DOOO) leadership • Q4 2025

    Question

    Luke Hannan inquired whether recent inventory challenges have changed the long-term approach to dealer inventory management and asked for the basis of the commentary on stable boat show trends.

    Answer

    CEO Jose Boisjoli confirmed that high interest rates have made dealers extremely sensitive to inventory levels, leading to more detailed ordering discussions, which he views as healthy for the industry. He clarified that the 'stable' boat show comment was based on dealer feedback being more consistently positive across North America this year, even if many consumers remain on the sidelines.

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    Luke Hannan's questions to BRP (DOOO) leadership • Q2 2025

    Question

    Luke Hannan asked for an update on the mix of current versus non-current units retailed during the quarter, referencing a prior quarter's metric.

    Answer

    CFO Sebastien Martel confirmed that BRP was successful in retailing non-current units in Q2. He specified that at the end of the quarter, approximately 75% of the total network inventory was current. For the ORV segment specifically, inventory was 90% current at the end of July, which he described as a very good position.

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    Luke Hannan's questions to BRP (DOOO) leadership • Q1 2025

    Question

    Luke Hannan of Canaccord Genuity asked how the projected 12-18 month inventory normalization timeline for the Marine business compares to past industry downturns. He also requested the working capital assumption within the maintained $750 million free cash flow guidance.

    Answer

    CEO Jose Boisjoli explained that the Marine industry correction is expected to take longer than a typical snowmobile downturn because the marine market is more fragmented with many smaller OEMs exhibiting different behaviors. CFO Sebastien Martel stated that the free cash flow guidance is supported by an expected working capital tailwind of about $100 million for the year, driven by the progressive reduction of high raw material safety stocks held since the pandemic.

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    Luke Hannan's questions to Gildan Activewear (GIL) leadership

    Luke Hannan's questions to Gildan Activewear (GIL) leadership • Q2 2025

    Question

    Luke Hannan of Canaccord Genuity inquired about the key drivers for the full-year operating margin outlook, particularly concerning raw material costs, and asked if the significant contribution from new programs would extend into 2026.

    Answer

    EVP & CFO Luca Barile detailed that the 50 basis point operating margin accretion is driven by the Bangladesh facility ramp-up, yarn optimization, and network efficiencies, along with cost control. President & CEO Glenn Chamandy confirmed that Gildan has "very good visibility for 2026," suggesting that new programs will continue to be a significant growth driver.

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    Luke Hannan's questions to Gildan Activewear (GIL) leadership • Q1 2025

    Question

    Luke Hannan of Canaccord Genuity Corp. requested more detail on the 2025 innovation pipeline, including product focus and cadence. He also asked if Gildan plans to establish its own yarn spinning facilities in Bangladesh to support its operations there.

    Answer

    President and CEO Glenn Chamandy noted that major product lines were already revamped in 2024. EVP and COO Chuck Ward highlighted upcoming innovations like 'plasma print technology' for direct-to-garment printing and new fabrications in Innerwear. Regarding Bangladesh, Glenn Chamandy clarified that Gildan already has a vested interest in its yarn spinning partners there, ships U.S. cotton to them, and is well-positioned from a tariff standpoint due to the high value of U.S. content.

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    Luke Hannan's questions to ON24 (ONTF) leadership

    Luke Hannan's questions to ON24 (ONTF) leadership • Q1 2025

    Question

    Luke Hannan from Canaccord Genuity asked for clarification on the softness observed late in the quarter and its impact on guidance. He also requested details on the new ON24 IQ product, its place in the AI strategy, and its potential pricing model.

    Answer

    CFO Steve Vattuone stated that due to increased macro uncertainty, the company adopted a more conservative guidance, particularly for the second half of the year. Executive Sharat Sharan added that while they can't control the macro environment, strong internal drivers like record gross retention and new business wins provide confidence. Regarding AI, Sharan explained that ON24 IQ consists of intelligent agents designed to automate repetitive tasks for customers. He noted that while a low-teens percentage of customers currently pay for AI features, new AI-related SKUs and packages are expected within the next 30 to 60 days.

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    Luke Hannan's questions to Charlotte's Web Holdings (CWBHF) leadership

    Luke Hannan's questions to Charlotte's Web Holdings (CWBHF) leadership • Q4 2024

    Question

    Luke Hannan inquired about the specific impact of state-level regulations on retail performance, the outlook for retailer shelf space in 2025, the key drivers for the targeted gross margin expansion to over 50%, and the company's cash burn expectations for the upcoming year.

    Answer

    CEO William Morachnick explained that while the 'chaotic patchwork' of state regulations makes quantifying the retail impact difficult, the company is adapting by expanding its portfolio into botanicals and isolates. Executive Cory Pala added that retail represents less than a third of Q4 revenue. CFO Erika Lind detailed that the 2025 margin improvement will stem from bringing production in-house, better shipping rates, and operational efficiencies. Lind also projected a significant reduction in cash burn for 2025 due to lower CapEx and a full year of cost savings.

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    Luke Hannan's questions to Charlotte's Web Holdings (CWBHF) leadership • Q4 2024

    Question

    Luke Hannan of Canaccord Genuity Group Inc. inquired about the impact of state-level regulations on retail, the outlook for retailer shelf space in 2025, the drivers behind targeted gross margin expansion, and the company's cash burn expectations.

    Answer

    CEO Bill Morachnick described the state regulatory landscape as a 'chaotic patchwork,' noting the company is adapting by expanding its portfolio into botanicals and minor cannabinoids. CFO Erika Lind explained that the Q4 margin compression was an anomaly and that 2025 margin improvement will be driven by bringing production in-house, optimizing shipping, and leveraging revenue growth. Lind also projected a significant reduction in 2025 cash burn due to lower CapEx and a full year of SG&A cost savings, establishing Q4's SG&A as a go-forward baseline.

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    Luke Hannan's questions to Charlotte's Web Holdings (CWBHF) leadership • Q4 2024

    Question

    Luke Hannan of Canaccord Genuity Group Inc. inquired about the specific impact of state-level retail restrictions, the outlook for retailer shelf allocations for CBD in 2025, the drivers for the targeted gross margin expansion to over 50%, and the company's cash burn expectations for the upcoming year.

    Answer

    CEO William Morachnick explained that quantifying the impact of varied state regulations is difficult, but the company is adapting by diversifying its product portfolio into botanicals and minor cannabinoids. He noted regulatory uncertainty keeps major retailers cautious. CFO Erika Lind clarified that the Q4 margin dip was an anomaly and that 2025 margins will improve due to better shipping rates, in-house production, and higher revenue. Lind also projected a significant reduction in 2025 cash burn, citing lower CapEx and a full year of realized SG&A savings, with Q4's expense level serving as the new baseline.

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    Luke Hannan's questions to Charlotte's Web Holdings (CWBHF) leadership • Q1 2024

    Question

    Asked about the sales impact and learnings from the recent price reduction on oil products, and inquired about the initial performance of the new Stay Asleep CBN gummy launch compared to past launches.

    Answer

    Management responded that it's too early to fully assess the price elasticity from the recent price cuts but they are monitoring it. The new CBN gummy launch has shown very positive early signs in the D2C channel since its mid-March launch, with strong consumer uptake and a significant increase in orders containing the product from March to April.

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    Luke Hannan's questions to Charlotte's Web Holdings (CWBHF) leadership • Q1 2024

    Question

    Luke Hannan of Canaccord Genuity inquired about the sales elasticity observed following the recent price cuts on oil products and asked how the new 'Stay Asleep' CBN gummy launch compares to past product introductions in terms of initial retail adoption.

    Answer

    CEO William Morachnick explained that it was too soon to get a clear read on price elasticity for the oils but the company is monitoring it closely. Regarding the new CBN gummy, he noted it launched direct-to-consumer in mid-March with a retail launch planned for Q2. He shared positive anecdotal feedback and strong initial D2C metrics, with the product being included in 12% of D2C orders in March, a figure that grew by 50% in April, demonstrating strong resonance with consumers.

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    Luke Hannan's questions to Cresco Labs (CRLBF) leadership

    Luke Hannan's questions to Cresco Labs (CRLBF) leadership • Q2 2023

    Question

    Luke Hannan from Canaccord Genuity asked about the company's loyalty program, specifically its penetration rate and future development plans. He also sought clarity on SG&A expense expectations for the rest of the year, questioning if the lower CapEx outlook implied a more significant SG&A reduction.

    Answer

    Chief Transformation Officer Greg Butler explained that their custom loyalty program is gaining steam and allows for sophisticated, one-to-one offers that help grow customer baskets and improve retail margins. CFO Dennis Olis confirmed a further SG&A reduction in Q3, though less pronounced than the Q1-to-Q2 drop, and noted the full-year CapEx forecast is now around $50 million as major projects are complete.

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