Oil and gas producer Cenovus Energy CVE-T -4.23%decrease posted a rise in first-quarter profit on Wednesday, helped by higher benchmark crude oil prices and as the acquisition of MEG Energy boosted its upstream production to record levels.
Cenovus’ acquisition of MEG last year added the Christina Lake oil sands assets to its portfolio, boosting production and strengthening its position as one of Canada’s largest heavy oil producers.
The Calgary-based company said total upstream production rose to a record 972,100 barrels of oil equivalent per day (boepd) in the quarter, from 818,900 boepd a year earlier.
Total downstream crude throughput was 458,500 barrels per day (bpd), compared with 665,400 bpd a year ago, though Cenovus achieved an overall crude unit utilization rate of 97 per cent.
Cenovus’ board also approved a 10-per-cent increase in its quarterly base dividend to 22 cents per share, beginning in the second quarter.
The company’s net earnings rose to $1.57-billion, or 83 cents per diluted share, in the three months ended March 31, from $859-million, or 47 cents per share, a year earlier.
Tim Hortons parent company Restaurant Brands International Inc. QSR-T -4.74%decrease reported a first-quarter profit attributable to common shareholders of US$338-million, up from US$159-million a year earlier.
The company, which keeps its books in U.S. dollars, says the profit amounted to 97 cents US per diluted share for the quarter ended March 31, up from 49 cents US per diluted share in the same quarter last year.
Revenue for the company, which includes Burger King, Popeyes, and Firehouse Subs, totalled US$2.26-billion, up from US$2.11-billion.
Overall comparable sales were up 3.2 per cent.
On an adjusted basis, Restaurant Brands says it earned 86 cents US per diluted share in its latest quarter, up from an adjusted profit of 75 cents US per diluted share in the first quarter of 2025.
Analysts on average had expected an adjusted profit of 82 cents US per share, according to LSEG Data & Analytics.
Loblaw Cos. Ltd. L-T -2.45%decrease reported a 6.8-per-cent increase in adjusted first-quarter profit and boosted its dividend paid to shareholders on Wednesday, as the country’s largest grocer continued to benefit from opening more No Frills and Maxi discount stores.
The Brampton, Ont.-based retailer reported that customers – who have been consistently shopping at lower-priced stores in recent years to cope with food inflation – have been “responding well” to its new store openings. Discount chains, which also include Real Canadian Superstore, are outperforming its full-price stores.
The company opened five new discount locations in the first quarter, and saw an increase in both the traffic to its stores and the amount customers purchased during each visit.
Loblaw is not alone in these efforts: Competitor Metro Inc. MRU-T -0.30%decrease has also said its Food Basics and Super C discount chains are growing, and last month reported that customer traffic had increased because of new store openings.
“We are very pleased that our strategic investments in opening new stores, and our focus on value, are resonating with Canadians and helping us to deliver strong financial results,” Loblaw president and chief executive officer Per Bank said in a press release Wednesday.
Loblaw’s net earnings available to common shareholders jumped to $594-million or 50 cents in diluted earnings per share in the quarter ended March 28, compared to $503-million or 42 cents per share in the same period last year.
The earnings numbers were affected by a number of factors, including lower amortization of assets related to the acquisitions of Shoppers Drug Mart and Lifemark; the sale of the Wellwise business and property last year; and fair-value adjustments on fuel, investments and foreign currency contracts. Accounting for those factors, adjusted net earnings amounted to $609-million or 52 cents in diluted earnings per share, compared to $570-million or 47 cents per share during the same quarter last year.
Loblaw also announced on Wednesday that it will increase its quarterly dividend paid to shareholders by 10 per cent, to15.5 cents per common share.
First-quarter revenue grew by 4.2 per cent to $14.7-billion.
Same-store sales – an important measure of sales growth in existing store locations, rather than growth tied to new store openings – rose by 2.4 per cent in the company’s grocery stores, and by 4.1 per cent in its Shoppers Drug Mart chain and other drugstores. Drugstore sales were driven by strength in prescription drug sales and health care services.
E-commerce sales grew by 20.3 per cent in the quarter, driven by growth in delivery orders as well as success with third-party delivery partnerships with services such as Uber Eats. Those partnerships continue to expand: Following the end of the first quarter last month, Toronto-based delivery service Skip also announced a new partnership with Loblaw.
Oilsands giant Suncor Energy Inc. says its first-quarter net earnings came in at $2.1 billion, up from $1.69 billion in the same period a year earlier.
The profit amounted to $1.77 per share, higher than the $1.36 it earned per share during the first three months of 2025.
However, the earnings were lower than the average analyst estimate of $1.79, according to LSEG Data & Analytics.
Gross revenues jumped to $15.42 billion for the three months ended March 31 from $13.33 billion in the same period a year earlier.
Suncor achieved record first-quarter upstream production of 875,200 barrels per day, up year-over-year from 853,200 barrels.
The Calgary-based company also said it had record refining throughput and refined product sales during the period.
This report by The Canadian Press was first published May 5, 2026.
Thomson Reuters Corp. (TRI) on Tuesday reported first-quarter earnings of $459 million.
On a per-share basis, the Toronto-based company said it had net income of $1.03. Earnings, adjusted for non-recurring costs and to account for discontinued operations, came to $1.23 per share.
The results surpassed Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of $1.21 per share.
The news and financial information company posted revenue of $2.09 billion in the period, also surpassing Street forecasts. Three analysts surveyed by Zacks expected $2.06 billion.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research.
Cameco Corp. reported its first-quarter profit and revenue rose compared with a year ago, helped by increased uranium sales and higher prices.
The company says it profit attributable to equity holders amounted to $131 million or 30 cents per diluted share for the quarter ended March 31.
The result was up from a profit of $70 million or 16 cents per diluted share in the first quarter of 2025.
Revenue totalled $845 million, up from $789 million in the same quarter last year.
On an adjusted basis, Cameco says it earned 47 cents per share in its latest quarter, up from an adjusted profit of 16 cents per diluted share a year earlier.
Analysts on average had expected an adjusted profit of 38 cents per share and $856.9 million in revenue, according to LSEG Data & Analytics.
This report by The Canadian Press was first published May 5, 2026.
RB Global, Inc. (NYSE & TSX: RBA, the “Company”, “RB Global”, “we”, “us”, “their”, or “our”) reported the following results for the three months ended March 31, 2026.
“We delivered broad-based GTV growth across all our sectors, underscoring the strength of our growth strategy, the commitment of our teammates, and the value we deliver as trusted partners to our customers,” said Jim Kessler, CEO of RB Global. “our focus remains on what we can control ensuring that we consistently overdeliver on our commitments, particularly in this fluid macroeconomic environment.”
“Our topline momentum translated into earnings growth, reflecting the durability of our operating model and our disciplined execution across the business,” said Eric J. Guerin, Chief Financial Officer.
First Quarter Financial Highlights 1,2,3 :
Total gross transaction value (“GTV”) increased 13% year over year to $4.3 billion.
Total revenue increased 11% year over year to $1.2 billion.
Service revenue increased 5% year over year to $897.7 million.
Inventory sales revenue increased 32% year over year to $336.9 million.
Net income increased 20% year over year to $135.6 million.
Net income available to common stockholders increased 21% year over year to $124.6 million.
Diluted earnings per share available to common stockholders increased 20% to $0.66 per share.
Diluted adjusted earnings per share available to common stockholders increased 13% year over year to $1.01 per share.
Adjusted earnings before interest, taxes, depreciation and amortization (“EBITDA”) increased 11% year over year to $362.7 million.
Thomson Reuters TRI-T reported a double-digit first-quarter revenue rise on Tuesday, boosted by gains in its “Big 3” business segments of legal professionals, corporates and tax, and audit and accounting, lifting its shares in early trading.
The Toronto-based content and technology company also reaffirmed its full-year 2026 revenue forecast of a rise of between 7.5 per cent and 8 per cent as it said customers were choosing its artificial intelligence products, which Thomson Reuters CEO Steve Hasker described as “fiduciary-grade AI.”
“Across law, tax, audit and compliance, professionals accountable for high-stakes outcomes are choosing our AI products, built to the standards their work demands – grounded in authoritative content, designed and tested by our domain experts, and created to produce results that can be verified and audited under real-world scrutiny,” Hasker said in a statement.
Shares in Thomson Reuters, which have fallen by nearly 30 per cent this year, underperforming a rise of 5.2 per cent in the S&P 500 index, rose by more than 5 per cent at the open on the Toronto Stock Exchange.
The stock has been hit by fears over the challenge that AI newcomers, including Anthropic, present to companies such as Thomson Reuters, which sparked a wider selloff in software, data and professional services shares earlier this year.
Hasker highlighted the role of Thomson Reuters in delivering AI to professionals such as lawyers, tax preparers or court officials in an interview following the results.
“The consequences of error and hallucination are too much to bear,” Hasker said, adding that to get something wrong would result in fines. “They result in loss of reputation, loss of license to practice, loss of clients and client relationships. And that’s where fiduciary-grade AI kicks in,” he said.
Hasker cited the 2,700 legal experts on staff creating legal content and hundreds of accountants ready to answer questions and proprietary data as major advantages for clients to rely on Thomson Reuters services over those of frontier AI models.
First quarter revenue, EPS exceed forecasts
“Thomson Reuters has done enough to calm the immediate AI concerns,” PP Foresight analyst Paolo Pescatore said, adding: “The company appears well placed for the AI era, but the focus remains on execution.”
“If it can embed trusted, auditable AI deeper into daily workflows, it strengthens customer loyalty, protects pricing power and builds a more defensible long-term position,” he said.
Thomson Reuters chief financial officer Michael Eastwood said in an interview that generative AI was responsible for about 30 per cent of the company’s underlying contract value, which breaks down a contract’s total value, in the first quarter, compared with 28 per cent in the fourth quarter.
Thomson Reuters said its first-quarter revenue rose 10 per cent to US$2.09-billion, surpassing estimates of US$2.04-billion. It said earnings per share excluding items rose to US$1.23. Wall Street had forecast earnings per share of US$1.20.
Revenue at Reuters, Thomson Reuters’ news division, rose 7 per cent as a result of higher agency revenue and a price increase from its business with the London Stock Exchange Group.
Thomson Reuters also said it completed a US$605-million return of capital to shareholders, reducing outstanding common shares by about 6.5 million. It also repurchased 2.5 million of common shares for about US$262-million.
Eastwood said the company had about US$9-billion of capital to spend on deals through 2028.
