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)