By Ketki Saxena
Investing.com -- At 11:00 a.m in Toronto, the S&P/TSX Composite Index was at 19,584.42 points, up 0.20% in the day’s trading, supported by a slew of upbeat earnings, helping it outperform U.S. benchmarks as risk-sentiment returned ahead of key economic data.
Here’s a roundup of the most important TSX earnings so far today, the major earnings expected later today, and the day’s key Canadian stocks upgraded or downgraded by analysts.
Major TSX Earnings so Far Today:
- Bombardier (TSX:BBDb): Reported smaller loss on steady demand for business jets, supported by steady demand from wealthy travelers and lower interest expenses.
- Canadian Natural Resources Ltd (TSX:CNQ): Profit more than doubles as energy prices surge as crude prices soared on tighter energy supplies due to the Ukraine conflict.
- Nutrien (TSX:NTR): Beat profit estimates fueled by soaring prices of crop nutrients which more than offset higher natural gas costs and lower sales volumes. The company also lowered its full-year forecast.
- Sun Life Financial (TSX:SLF) Inc: Canada's second-biggest life insurer comfortably beat analysts' estimates for second-quarter core profit, which rose slightly from a year earlier as higher earnings in Canada helped offset a decline in profits from its wealth management unit as global stock market woes weighed on its equities-focused MFS Investment Management business.
- BCE Inc (TSX:BCE): Reported profit slipped in the second quarter even as revenue grew. The company attributed the decrease to higher expenses related to derivatives it uses for hedging, higher depreciation and amortization expenses and higher severance and acquisition costs.
- Lightspeed Commerce (TSX:LSPD): Posted both revenues and operating loss were better than anticipated. In addition, the company said volumes handled by its payments processing offering nearly doubled year over year,
- SNC-Lavalin Group Inc . (TSX:SNC): reported its second-quarter profit fell compared with a year ago as revenue grew, attributing the drop in operational profits mainly due to charges relating to the Jacques Cartier Bridge.
- Thomson Reuters (TSX:TRI): posted higher second-quarter operating profit and raised its full year revenue forecast.
TSX Earnings Expected Later Today
- Enerplus (TSX:ERF) Corp: Expected Q2 earnings of 83 Canadian cents per share
- Suncor Energy Inc (TSX:SU): Expected Q2 earnings of C$2.56 per share
- Pembina Pipeline (TSX:PPL) Corp: Expected Q2 earnings of 65 Canadian cents per share
- Jamieson Wellness (TSX:JWEL) Inc: Expected Q2 earnings of 30 Canadian cents per share
- Ritchie Bros Auctioneers (TSX:RBA): Expected Q2 earnings of 61 cents per share
- Quebecor Inc (TSX:QBRa): Expected Q2 earnings of 68 Canadian cents per share
Today's TSX Analyst Upgrades and Downgrades
- Agnico Eagle Mines (TSX:AEM) Ltd: National Bank of Canada (TSX:NA) cuts target price to C$74 from C$75, anticipating production estimates to be lower in 2023 and 2024.
- Canadian Tire Corp Ltd (TSX:CTCa): National Bank of Canada cuts target price to C$215 from C$222, citing macroeconomic uncertainty and higher costs in retail.
- NFI Group Inc (TSX:NFI) National Bank of Canada raises target price to C$17 from C$14, saying the company is past peak inflation and supply chain worries.
- Stelco (TSX:STLC) Holdings Inc: JPMorgan (NYSE:JPM) cuts target price to C$73 from C$75, to reflect lower steel prices and the recent C$1.1 billion buyback.
- Waste Connections Inc (TSX:WCN): ATB Capital Markets raises target price to C$180 from C$170, after the company raised its full-year guidance following strong second-quarter results.
View our Earnings Calendar for Full Earning Schedule and Results