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Small waterfalls (CAS.TO, $ 16.56) Thursday posted better-than-expected fourth-quarter earnings, and a return to earnings after posting a loss for the same period the previous year. Recycled fiber and paper recovery specialist announced a shareholder-attributable net profit of $ 73 million, or 72 cents a share, for the quarter ended December 31. In comparison, the Kingsey Falls-based company reported a net loss of $ 26 million, or 27 cents per share, for the same period in 2019. Barring a few non-recurring items, Cascades made a profit of $ 42 million, or 42 cents. Per share, compared to adjusted earnings of $ 29 million, or 30 cents a share, for the same quarter of the previous year. Cascades total revenue of $ 1.28 billion in the most recent quarter, a 5% increase over that of $ 1.23 billion in the previous fourth quarter. Analysts had forecast average adjusted earnings per share of 28 cents and revenue of $ 1.23 billion, according to forecasts compiled by financial data firm Refinitiv.
The Maple leaf foods (MFI.TO, $ 24.74) Thursday beat forecasts to post a profit of $ 25.4 million for the fourth quarter, up from $ 17.5 million in the same period of the year early, while their sales grew more than 10%. The food manufacturer said its earnings per share were 20 cents per share for the quarter ended Dec. 31, up from 14 cents a share in the same period the previous year. Quarterly sales totaled $ 1.13 billion, compared to $ 1.02 billion in the fourth quarter of 2019, driven by gains in animal and plant protein products. The animal protein group revenue increased 11.3%, while the vegetable protein revenue increased 5.5%. Excluding non-recurring items, Maple Leaf had a profit of 30 cents per share, up from its revised earnings per share of 12 cents per share for the same period in the previous year. Analysts had expected, on average, a revised earnings per share of 21 cents, on revenue of $ 1.07 billion, according to forecasts compiled by financial data company Refinitiv.
Kebecor (QBR.TO, $ 31.92) reported an annual increase in fourth-quarter net income attributable to shareholders, which increased to $ 159.8 million in 2020, an increase of $ 14.7 million over the corresponding quarter of the previous fiscal year. During the same period, Quebec’s telecom giant’s revenue rose 0.9% to $ 1.15 billion. For the full year of 2020, Quebec reports net income attributable to shareholders of $ 607.2 million, or $ 2.41 per basic share, down $ 45.6 million compared to fiscal year 2019. The telecommunications division’s revenues increased, unlike those for the media and entertainment sectors. Who retreated. Quebecor will pay quarterly earnings ranging from $ 0.20 a share to $ 0.27 USD.
The Bank 💰 (TD.TO, $ 79.40) recorded net income in the first quarter of the current fiscal year of $ 3.277 billion, or $ 1.77 per diluted share, compared to $ 2.989 billion, or $ 1.61 per diluted share in the corresponding quarter of the fiscal year. 2020. Thus, net income increased by 10%. Total revenue was $ 10.81 billion, up from $ 10.61 billion the previous year. The financial institution specifies that the result of Canada’s retail services sector was $ 2.037 billion, up 14% from the first quarter of the previous year.
The CIBC Bank (CM-PQ.TO, $ 22.98) records a sharp 34% increase in first-quarter net income, which increased from $ 1.212 billion in the first three-month period of fiscal 2020 to $ 1.625 billion in the first quarter of this year. . During the same period, diluted earnings per share jumped from $ 2.63 to $ 3.55, an increase of 35%. Adjusted net income increased from $ 1.483 billion to $ 1.640 billion. The Commercial International Bank reported that its capital markets division recorded first-quarter net income of $ 493 million, an increase of $ 115 million, or 30%, over the first quarter of 2020. Withholding provision for credit losses was $ 147 million, down $ 114 million. Or 44% from the first quarter of last year.
Engineering services company WSP Global (WSP.TO, $ 117.46) Wednesday posted a 70% net profit for the fourth quarter, which however turned out to be below analysts’ expectations. The Montreal-based company reported net shareholder-attributable income of $ 68.9 million, or 61 cents per share, for the quarter ending December 31. By comparison, it posted a profit of $ 40.5 million, or 38 cents per share, for the same period last year. This growth in net income is mainly attributed to the increase in income before net financing fees and taxes, as well as to a decrease in net financing expenses. After adjusting to exclude some items, WSP had $ 81.1 million, or 71 cents per share, earnings compared to $ 55.3 million, or 52 cents per share, for the fourth quarter of 2019. Analysts had expected an average adjusted earnings per share of 83 cents. Plus $ 1.74 billion in sales, according to forecasts compiled by financial data company Refinitiv. In addition, the company’s board of directors approved a quarterly dividend of 37.5 cents per share, which will be paid around April 15th to registered shareholders effective March 31.
Sophie Laurent is a contributor to Vaughantoday.ca, covering a wide range of topics including local news, politics, business, technology, sports, entertainment, and lifestyle. She focuses on delivering clear, balanced reporting that helps readers stay informed about current events and issues that matter to their communities. Sophie is committed to presenting accurate information, practical insights, and relevant stories in a straightforward and reader-friendly manner, making complex topics accessible to a broad audience.