Canadian Tire reports Q4 profit and revenue up, beats expectations

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TORONTO — Canadian Tire Corp. Ltd. beat expectations as it reported its fourth-quarter profit and revenue both rose significantly compared with a year ago.

The retailer says its net income attributable to shareholders totalled $488.8 million or $7.97 per diluted share for the quarter ended Jan. 2.

The result was up from $334.1 million in net income attributable to shareholders or $5.42 per diluted share in its fourth quarter a year earlier.

Revenue was $4.87 billion, up from $4.32 billion.

On an adjusted basis, Canadian Tire says it earned $8.40 per diluted share, up from $5.53 a year earlier.

Analysts on average had expected an adjusted profit of $6.69 per share and $4.83 billion in revenue, according to financial data firm Refinitiv.

Companies in this story: (TSX:CTC.A)

1 COMMENT

  1. Canadian Tire.
    It used to be place where you could find a good selection at a reasonable price.
    Now they are in the top 5% of the worst gougers anywhere.
    You need to be very careful and do your research before buying anything at all there any more as the prices can be 400% higher than elsewhere.

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