By Ketki Saxena
Investing.com – The TSX, buoyed by receding inflation indicators in the U.S. and reduced rate hike bets from the Federal Reserve. The Canadian Index was also supported by largely upbeat earnings from Canadian companies this morning and yesterday after the closing bell.
Here’s a roundup of the major TSX Earnings moving markets today.
Canada Goose Holdings Inc (TSX:GOOS): Revenue surged 24.2%, beating analyst estimates, supported by the company’s affluent consumer segment spending on its luxury parkas and jackets. Revenue rose to C$69.9 million in the first quarter, from C$56.3 million, a year earlier. Net loss widened to C$63.6 million, or 59 Canadian cents per share, from C$57.5 million, or 52 Canadian cents per share, a year earlier.
Cineplex: profits and revenues surged, with the movie theatre operator posting C$1.3 million in net income compared to a loss of C$103.7 million a year ago, with earnings per share at 2 Canadian cents compared to a loss of C$1.64 a year ago. Revenue surged 438.9% to C$349.9 million while theatre attendance was up a whopping 866% year-over-year.
Canadian Tire: profit tumbled as the company's lesser-known financial service division weighed down the bottom line. Net income sank 31.5 percent year-over-year to $177.6 million, the company said Thursday largely attributed to an operational halt in Russia during the period. Total revenue in the quarter rose 12 percent to $4.40 billion.
Expected Later In Today’s Session
Vermilion Energy (TSX:VET): Expected to post earnings of C$2.08 per share for the quarter compared to C$1.69 EPS a year prior, as Canadian oil and gas stocks have benefited from a strong commodities environment, and Vermillion in particular due to its exposure to the strong pricing environment in Europe, from where it generates about 30% of its total revenue.
Yesterday After the Closing Bell:
Manulife Financial (TSX:MFC) Corp: Canada's largest life insurer reported a drop in core earnings as market volatility weighed on its asset management unit and COVID-19 restrictions in Asia, but still managed to beat analyst expectations. Core earnings of C$1.56 billion, or 78 Canadian cents a share, in the second quarter, compared with C$1.68 billion, or 83 Canadian cents a share, a year earlier.
Indigo Books & Music: saw net loss widen to 91 Canadian cents per share, compared to a net loss of 79 Canadian cents per share in the same period one year ago, attributable to macro-economic conditions including supply chain disruptions, and higher freight costs and inflationary pressures. Revenue jumped 18.9 percent year-over-year to C$204.6 million, due in part to its partnership with TikTok and what the company describes as a “resurgence of reading”.