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TSX Earnings Recap: Week of Feb 20- Feb 23

Published 2024-02-20, 12:30 p/m
Updated 2024-02-23, 04:25 p/m
© Reuters

Investing.com - Here's a recap of earnings from TSX listed companies in the past week.

Tuesday, Feb 20

  • First Quantum Minerals Ltd (TSX:FM) reported a net loss of US$1.45 billion or US$2.09 per share, for the quarter ended Dec. 31, compared with a profit of US$117 million, or US 17 cents per share a year earlier. The company was hit by the closure of its Cobre Panama mine and a US$900 million impairment charge related to its nickel mining operations.
  • Gibson Energy Inc . (TSX:GEI) reported earnings results for the full year ended December 31, 2023 and Q4, 2024. For the full year, the company reported sales was $11,014.69 million compared to $11,035.41 million a year ago. Net income was $214.21 million compared to $$223.25 million a year ago. Basic earnings per share from continuing operations was $1.43 compared to $1.53 a year ago

    Net sales for Q4 totaled $2,810 million in the fourth quarter, while Q4 net income came in at $53 million.
  • Gildan Activewear Inc. (TSX:GIL) reported a fourth-quarter profit of US$153.3 million, up from US$83.9 million a year earlier. The profit amounted to US 89 cents per diluted share for the quarter ended Dec. 31, up from US 47 cents per diluted share a year earlier. Net sales totalled US$782.7 million, up from US$720.0 million.The company also announced it will raise its quarterly dividend of US 20.5 cents per share, up from US 18.6 cents per share.

Wednesday, Feb 21

  • First Quantum Minerals Ltd (TSX:FM) reported a net loss of US$1.45 billion or US$2.09 per share, for the quarter ended Dec. 31, compared with a profit of US$117 million, or US 17 cents per share a year earlier. The company was hit by the closure of its Cobre Panama mine and a $900 million impairment charge related to its nickel mining operations.

  • Gildan Activewear (TSX:GIL) Inc reported a fourth-quarter profit of $153.3 million, up from $83.9 million a year earlier. The profit amounted to 89 cents per diluted share for the quarter ended Dec. 31, up from 47 cents per diluted share a year earlier. Net sales totalled $782.7 million, up from $720.0 million.The company also announced it will raise its quarterly dividend of 20.5 cents per share, up from 18.6 cents per share.

Thursday, Feb 22

  • Suncor Energy Inc (TSX:SU). says it earned $2.82 billion in the fourth quarter of 2023, up from $2.74 billion in the same period of 2022.Net earnings for the three months ended Dec. 31 worked out to $2.18 per common share. Meanwhile, total upstream production for the quarter rose to 808,100 barrels of oil equivalent per day, the second-highest quarterly production in the company’s history. Oilsands production meanwhile hit 757,400 barrels a day, an all time high for the company.

  • Loblaw Companies (TSX:L) Ltd beat expectations for fourth-quarter profit. The grocery and drugstore retailer says it earned a profit available to common shareholders of $541 million or $1.72 per diluted share for the quarter ended Dec. 30. The result compared with a profit of $529 million or $1.62 per diluted share in the last three months of 2022. Revenue totalled $14.53 billion, up from $14.01 billion a year earlier.

  • Nutrien Inc. (TSX:NTR) says it earned US$176 million, or 35 cents per diluted share in the fourth quarter of 2023, down from US$1.12 billion or $2.15 per share a year-ago. Nutrien also declared a quarterly dividend of 54 cents per share payable, up 2% from its dividend as declared in November 2023.

  • Teck Resources (TSX:TECKa) Ltd beat fourth-quarter profit estimates, with a a profit attributable to shareholders of $483 million or 92 cents per diluted share for the quarter, up from $266 million or 51 cents per diluted share a year earlier. Revenue totalled $4.11 billion, up from $3.14 billion a year earlier.

Friday, Feb 23

  • Docebo (TSX:DCBO) Inc's earnings beat analyst estimates, with the company reporting an adjusted net income of US$8.3 million, or $0.26 per share, compared to US$3.4 million, or US$0.10 for the comparative period in the prior year. Revenue totaled US$49.3 million, up 27% from the year earlier.
  • Altus Group (TSX:AIF) climbed after posting a profit of improved to $0.1 million, compared to a loss of from $8.8 million this time a year ago. Earnings per share were $0.00 basic and diluted, compared to $0.20 this time a year ago. Consolidated revenues rose to $191.6 million, up 4.3% from this time a year ago.
  • TransAlta Corp (TSX:TA). reported a loss attributable to common shareholders of $84 million or to 27 cents per diluted share, compared to a loss of $163 million or 61 cents per diluted share a year earlier. Revenue totalled $624 million, down from $854 million this time a year ago.
  • CI Financial Corp 's (TSX:CIX) net loss widened significantly to $63.2 million or $0.40 a share, from a loss of $8.3 million, or $0.05, a year earlier. Revenue for the quarter rose 15% to $715.6 million. CI Financial (TSX:CIX) also reported that it ended the quarter with $125 billion in assets under management.

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