Investing.com – Here’s a look at major TSX earnings this week.
Most anticipated this week will be earnings from big Canadian banks. Scotiabank (TSX:BNS) and BMO are first on deck, with earnings due before market open tomorrow. National Bank and RBC (TSX:RY) report on Wednesday, with CIBC (TSX:CM) and TD closing out the big bank earnings on Thursday.
Monday, February 26, 2024
Cargojet Inc (TSX:CJT). reported a net loss of $34.9 million in its fourth quarter compared to a profit of $2.6 million in the last three months of 2022, as the effects of rising inflation levels weigh on consumer demand. On an adjusted basis, Cargojet posted a loss of 14 cents per share, compared with an adjusted profit of 89 cents per share a year earlier.
Emera (TSX:EMA) Inc reported fourth quarter net income of $289 million, or $1.04 per common share, compared with net income of $483 million, or $1.80 per common share, in Q4 2022. The company noted that it’s fourth quarter performance was impacted by unfavourable weather and higher interest rates, but highlighted an improved cash flow performance as a positive.
Tuesday, February 27, 2024
Bank of Nova Scotia reported stronger-than-expected first-quarter earnings, boosted by its Canadian and international banking operations, even as provisions for credit losses rose. Scotiabank (TSX:BNS) recorded an income of C$2.17 billion, or C$1.68 a share, versus C$1.72 billion, or C$1.35, a year earlier. On an adjusted basis earnings were C$1.69 a share, beating estimates for C$1.61 forecast by analysts. Revenue for the three-month period totalled C$8.43 billion, up from C$7.96 billion in its first quarter last year.
Bank of Montreal (TSX:BMO) reported disappointing first-quarter results today, with its commercial banking in North America, capital markets, and corporate services under pressure from what chief executive Darryl White characterized as “constrained revenue growth in market-sensitive businesses.” The bank's net income totalled $1.29 billion, up from $133 million a year earlier. On an adjusted basis, profit of $2.56 per share, well below the $3.02 per share analysts had expected, and down from $3.06 per share a year ago. Overall revenue totalled $7.67 billion for the quarter, up from $5.10 billion a year ago.
Wednesday, February 28, 2024
Royal Bank of Canada on Wednesday beat analysts' estimates for quarterly profit as higher interest rates helped the bank earn more on its interest-bearing assets. Adjusted profit came in at $4.07 billion, or $2.85 per share above analysts' estimates for $2.80 per share. Net interest income rose 2.1% for the quarter. Total provisions for credit losses jumped to $813 million,up 53%, from a year ago.
National Bank of Canada (TSX:NA) reported a better-than-expected first-quarter profit. On an adjusted basis, RBC earned $2.59 per share, beating analysts' estimates of $2.36. Net interest income slid 31.7% to $751 million in the first quarter. Provisions for credit losses in the first quarter rose to $120 million from $86 million.
Thursday, February 29, 2024
TD (TSX:TD) posted an adjusted net income fell to $3.64 billion, or $2.00 per share, in the quarter, from $4.15 billion, or $2.23 per share, a year earlier. Analysts on average had expected a profit of $1.89 per share. Provision for credit losses rose to $1 billion in the first quarter from C$690 million a year earlier.
CIBC (TSX:CM) reported a profit of $1.81 a share, above analysts' average estimates of $1.66 and compared with $1.94 a year earlier. Provisions for credit losses rose to $585 million in provisions, up by $290 million.
Friday, March 1, 2024
SNC-Lavalin Group (TSX:ATRL): EPS expected at $0.53, revenue at $2.08B
Boralex (TSX:BLX): EPS expected at $0.452, revenue at $258.01M
Canadian Western Bank (TSX:CWB): EPS expected at $0.91, revenue at $296.71M
This content will be updated throughout the week.
All currencies Canadian dollar unless noted otherwise.
For all earnings, view our earnings calendar.
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