By Ketki Saxena
Investing.com -- Earnings season continues in full swing this week on Bay Street, with a slew of quarterly results expected for Canadian companies.
The week kicked off today with results from Air Canada that fell short of Bay Street expectations, Air Canada posted a smaller quarterly loss and forecast higher full-year expenses, amidst a rise in labor costs and jet fuel prices as the carrier struggles to amp up capacity in the still-lingering aftermath of the Covid-19 Pandemic.
Other major results expected today include Sprott, Gibson Energy (TSX:GEI), and Molson Coors - no longer officially a Canadian headquarter stock, but still a quintessentially Canuck company we’ll claim.
Tomorrow’s earnings will be dominated by insurance giants Sun Life Financial (TSX:SLF), Great-West Lifeco (TSX:GWO), as well as Brookfield Infrastructure. However, it’s Thursday that earnings will really amp up, with results expected from Suncor Energy (TSX:SU), Bell Canada, Bombardier (TSX:BBDb). Pembina Pipelines, SNC-Lavalin, and Quebecor - just to name a few.
Canadian economics this week includes today's Manufacturing PMI, which showed factory activity grew at its slowest pace in 2 years. The biggest story in Canadian economics this week will be Statistics’ Canada’s Labour Force Survey due Friday, as well as Canadian trade balance and building permits due Thursday. Major U.S. data will also include jobs, with non-farm payrolls due Friday and initial job claims, as well as trade balance due Thursday.
On the international front, investors will also be keeping an eye on tomorrow’s OPEC+ meeting, at which the group is likely to announce no increase to output.
Canadian Economics and Earnings Calendar
Monday
Canadian Markets Closed for Civic Holiday
Tuesday, August 2
- In Canadian Economics: Canadian Manufacturing PMI
- TSX Earnings: Air Canada, Finning International, Sprott, Gibson Energy, Dream Industrial Real Estate Investment Trust
Wednesday, August 3
- Notable data: ISM U.S. services index U.S. factory orders
- Notable earnings: Nutrien (TSX:NTR), Sun Life Financial, Great-West Lifeco, Brookfield Infrastructure Partners, Innergex Renewable Energy, Iamgold, B2Gold (TSX:BTO)
Thursday, August 4
- In Canadian Economics: Canadian trade balance, building permits
- TSX Earnings: Suncor Energy, BCE (TSX:BCE), Bombardier, Restaurant Brands International (TSX:QSR), Thomson Reuters (TSX:TRI), Constellation Software, Canaccord Genuity, Dream Office Real Estate Investment Trust, Quebecor, Saputo (TSX:SAP), Lightspeed Commerce (TSX:LSPD), Bausch + Lomb, SNC-Lavalin, Pembina Pipeline (TSX:PPL), Ritchie Bros Auctioneers
- In The U.S.: Trade balance; initial jobless claims; Earnings from WeWork, Lyft, Beyond Meat, Kellogg
Friday, August 5
- In Canadian Economics: Canadian Labour Force Survey
- TSX Earnings: TransAlta, Brookfield Renewable Partners, Power Corp., Telus (TSX:T) International, Canopy Growth (TSX:WEED)
- In the U.S: Non-farm payrolls