Author: train2invest Admins

Hydro One Limited (TSX:H.TO), announced that its Board of Directors has declared a quarterly cash dividend to common shareholders of $0.3142 per share to be paid on December 31, 2024 to shareholders of record on December 11, 2024.

Read more at newswire.ca

BCE Inc. reported a loss in its latest quarter as it recorded $2.11 billion in asset impairment charges, mainly related to Bell Media’s TV and radio properties.

The company says its net loss attributable to common shareholders amounted to $1.24 billion or $1.36 per share for the quarter ended Sept. 30 compared with a profit of $640 million or 70 cents per share a year earlier.

On an adjusted basis, BCE says it earned 75 cents per share in its latest quarter compared with an adjusted profit of 81 cents per share in the same quarter last year.

Operating revenue for the quarter totalled $5.97 billion, down from $6.08 billion in its third quarter of 2023.

BCE also said it now expects its revenue for 2024 to fall about 1.5 per cent compared with earlier guidance for an increase of zero to four per cent.

The company says the change comes as it faces lower-than-anticipated wireless product revenue and sustained pressure on wireless prices.

This report by The Canadian Press was first published Nov. 7, 2024.

TC Energy Corporation (TRP) on Thursday reported third-quarter net income of $1.09 billion.

The Calgary, Alberta-based company said it had profit of $1.03 per share. Earnings, adjusted for non-recurring gains, came to 76 cents per share.

The results surpassed Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of 70 cents per share.

The energy infrastructure company posted revenue of $2.99 billion in the period.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on TRP at https://www.zacks.com/ap/TRP

Cameco Corp. increased its annual dividend as it reported a third-quarter profit attributable to equity holders of $7 million, down from $148 million a year ago.

The uranium miner says it will now pay an annual dividend of 16 cents per share, up from 12 cents per share.

Cameco chief executive Tim Gitzel also said the company has recommended to its board that it continue to grow the dividend to at least 24 cents per share over the fiscal periods 2024 through 2026, subject to annual consideration.

The increased payment to shareholders came as Cameo said its third-quarter profit amounted to two cents per diluted share compared with a profit of 34 cents per diluted share a year ago.

Revenue for the quarter totalled $721 million, up from $575 million in the same quarter last year.

On an adjusted basis, Cameco says it lost a penny per diluted share in its latest quarter compared with an adjusted profit of 32 cents per share a year earlier.

This report by The Canadian Press was first published Nov. 7, 2024.

Canadian Tire Corp. Ltd. raised its dividend as it reported a profit in its latest quarter compared with a loss a year ago when it took a large one-time charge.

The retailer says it will now pay a quarterly dividend of $1.775 per share, up from $1.75 per share.

The increased payment to shareholders came as Canadian Tire reported net income attributable to shareholders of $200.6 million, or $3.59 per diluted share. The result compared with a loss attributable to shareholders of $66.4 million or $1.19 per diluted share in the same quarter last year when it recorded a charge related to its deal to buy back the 20 per cent stake in Canadian Tire Financial Services that was owned by Scotiabank.

On a normalized basis, Canadian Tire says it earned $3.59 per diluted share in its latest quarter compared with a normalized profit of $2.96 per diluted share a year earlier.

Revenue for the quarter totalled $4.19 billion, down from $4.25 billion in the same quarter last year.

Consolidated comparable sales were down 1.5 per cent compared with a year earlier. Comparable sales at its Canadian Tire stores fell 2.2 per cent, while SportChek comparable sales rose 2.9 per cent. Mark’s comparable sales dropped 2.3 per cent.

This report by The Canadian Press was first published Nov. 7, 2024.

TORONTO, Nov. 5, 2024 /CNW/ – (TSX: IFC)  

Highlights

• Organic operating DPW^1,2 growth of 6%, excluding acquisitions and exits, led by continued momentum in Personal lines
• Combined ratio¹ of 103.9% included 22 points of catastrophe losses, offsetting otherwise strong underlying performances across all geographies
• Net operating income per share¹ was $1.01 (and EPS of $1.06), despite $5.03 of catastrophe losses, with double-digit growth in investment and distribution income
• Operating ROE¹ remained strong at 15.8% over the last 12 months, up 4 points year-over-year, with BVPS¹ of $90.60, up 3% sequentially, despite the unusually challenging operating environment 
• Strong and resilient balance sheet with $2.6 billion of total capital margin¹ and an adjusted debt-to-total capital ratio¹ of 20.3%

Charles Brindamour, Chief Executive Officer, said: 

“The devastating effects from severe weather events in the quarter have impacted the lives of tens of thousands of customers. Our employees were on the ground within the first hours of these events providing immediate assistance to affected communities. We are leveraging our competitive advantages, which include On Side Restoration and Intact Service Centres, to minimize losses for our customers. In this context, our operations have shown great financial resiliency, reflected by our strong capital position and mid-teens operating ROE over the last 12 months. It’s in these challenging moments that we demonstrate our purpose – to help people, businesses and society prosper in good times and be resilient in bad.”

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Intact Financial Corporation reports Q3-2024 results

 Premium Brands Holdings Corporation (TSX:PBH.TO), a leading producer, marketer and distributor of branded specialty food products, announced today its results for the third quarter of 2024.

Read more at newswire.ca

• Sales of $915 million compared to $949 million in prior year quarter
• Operating income of $130 million, a decrease of $36 million year over year
• EBITDA⁽¹⁾ of $162 million, or 17.7% margin⁽¹⁾
• Net income of $80 million or $1.42 per share
• Three-year objectives updated to sales of approximately $3.6 billion and EBITDA margin > 17%
• Normal Course Issuer Bid announced for 2024-2025

MONTREAL, Nov. 06, 2024 (GLOBE NEWSWIRE) — Stella-Jones Inc. (TSX: SJ) (“Stella-Jones” or the “Company”) today announced financial results for its third quarter ended September 30, 2024.

“Stella-Jones’ strategy is, as always, rooted in the long-term growth of our resilient infrastructure business. In the third quarter, despite strong long-term demand tailwinds, we witnessed a slower pace of purchases by our utility customers. Though total sales were lower than anticipated, we delivered a solid quarter EBITDA margin of 17.7% and strong operating cashflows,” said Eric Vachon, President and Chief Executive Officer of Stella-Jones. “Year-to-date, sales were higher and our profit margins remained above target levels. Based on utilities’ current purchasing behaviour and the Company’s solid margin performance, we are updating our three-year financial objectives to sales of approximately $3.6 billion by 2025 and an EBITDA margin of more than 17%.”

“Utilities continue to forecast meaningful increases in infrastructure investments, evidenced by the longer-term sales contracts secured from new and existing customers. These commitments support our confidence in the solid and sustained growth in demand for utility poles. With our compelling infrastructure offering, robust available capacity and strong balance sheet, we are enthusiastic about the opportunities for continued growth and enhanced profitability,” concluded Mr. Vachon.

CGI Group Inc. (GIB) on Wednesday reported fiscal fourth-quarter earnings of $319.5 million.

On a per-share basis, the Montreal-based company said it had profit of $1.40. Earnings, adjusted for non-recurring costs, came to $1.41 per share.

The results surpassed Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of $1.38 per share.

The information technology and business process services company posted revenue of $2.68 billion in the period, which also topped Street forecasts. Four analysts surveyed by Zacks expected $2.62 billion.

For the year, the company reported profit of $1.24 billion, or $5.37 per share. Revenue was reported as $10.79 billion.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on GIB at https://www.zacks.com/ap/GIB

Donald Trump’s victory in the race to become the next U.S. president will have economic consequences for the rest of the world that are likely to be deep and quite immediate.

If Trump enacts just a fraction of his pledges – from higher trade tariffs to deregulation, more oil drilling and more demands on America’s NATO partners – the strain on government finances, inflation, economic growth and interest rates will be felt in every corner of the world.

Trump recaptured the White House on Wednesday by securing more than the 270 Electoral College votes needed to win the presidency, Edison Research projected.

His Republican Party also secured the Senate and may even win the House of Representatives, which would make it easier for the president to legislate his proposals and push through key appointments.

“Trump’s fiscal pledges are seriously troublesome – for the U.S. economy and for global financial markets – as they promise to vastly expand an already excessive deficit at the same time as he threatens to undermine key institutions,” Erik Nielsen, UniCredit’s Group Chief Economics Advisor, said.

“One must conclude that Trump poses a serious – and so far vastly under-appreciated – threat to the U.S. Treasury market and thereby to global financial stability,” Nielsen said.

Import duties, including a 10 per cent universal tariff on imports from all foreign countries and a 60 per cent tariff on imports from China, are a key plank of Trump’s policies and likely to have the biggest global impact.

Tariffs inhibit global trade, lower growth for exporters, and weigh on public finances for all parties involved. They are likely to raise inflation in the United States, forcing the U.S. Federal Reserve to act with tighter monetary policy.

The International Monetary Fund has already characterized global growth as weak, with most nations producing “feeble” expansion. A further hit to global trade is likely to present a downside risk to its 3.2 per cent GDP growth projection for next year.

Firms mostly pass import costs onto the customer, so tariffs are likely to be inflationary for U.S. buyers, forcing the Fed to keep interest rates high for longer or to even reverse course and hike borrowing costs once again.

This will be even more likely if Trump keeps his spending and tax pledges, which could increase the U.S. debt by $7.75 trillion through 2035, according to the non-partisan Committee for a Responsible Federal Budget.

“Most damage would be done under a universal import tariff,” ABN Amro’s Rogier Quaedvlieg said. “If the ultimate implementation is non-universal, the hit to the global economy would be significantly weaker.

“The full Trump package, including a universal package, would likely hit the global economy hard.”

For emerging markets relying on dollar funding, such a policy mix will make borrowing more expensive, dealing a double blow on top of the lost exports.

The same forces that could push up U.S. inflation could weigh on prices elsewhere, especially if Trump slaps oversized duties on China as he has promised.

As the world’s largest exporter, China is desperate to resurrect growth, so it may seek new markets for goods squeezed out of the U.S. and dump products elsewhere, especially Europe.

Central banks are likely to react quickly as business sentiment, especially for trade-reliant open economies, will deteriorate quickly.

“Even before a fall in the surveys, the ECB could be tempted to accelerate its rate cuts to a 2 per cent neutral rate and, once the U.S. tariff policies become clearer, it would be reasonable to cut rates to below neutral,” JP Morgan’s Greg Fuzesi said.

Governments are also likely to retaliate against any U.S. import duty, inhibiting trade further and cutting deeper into global growth.

High Fed rates and lower borrowing costs elsewhere would also boost the dollar – as evidenced by the 1.5 per cent drop in the value of the euro and the yen overnight – dealing even more pain to emerging markets since over 60 per cent of international debt is denominated in dollars.

Mexico could be the hardest hit given Trump’s rhetoric on closing the border, which comes against an already deteriorating domestic outlook.

“Mexico is most at risk,” TS Lombard’s Jon Harrison said as the Mexican peso fell 3 per cent against the dollar.

Mexico is especially vulnerable because trade tensions and threats of deportations could exacerbate domestic problems like cartel activity and the government’s failure to curb violence, Harrison added.

Among potential winners, Brazil might enjoy greater trade with China given that Beijing replaced all its U.S. soybean imports with Brazilian ones when trade tensions flared during Trump’s first presidency.

But Europe could also suffer the added blow of increased defence costs if Trump reduces support for NATO.

The continent has relied on a U.S. military presence since the end of World War Two and with no end in sight to Russia’s war in Ukraine, Europe will be forced to fill any gap left by a U.S. retreat.

But government debt in Europe is already close to 90 per cent of GDP, so finances are stretched and governments will struggle to stimulate an economy suffering from trade barriers while funding military spending at the same time.

Trump’s deregulation efforts are likely to play out over a longer period but internationally-agreed proposals aimed at making banks more resilient, commonly known as Basel III, could be a first casualty.

The new rules are set to apply from Jan. 1 and policymakers are already debating whether they should go ahead even if the U.S. pulls out.