Canadian Tire Corp. Ltd. raised its dividend as it reported its third-quarter profit fell compared with a year ago on restructuring and other transformation and advisory costs. The retailer says it will pay a quarterly dividend of $1.80 per share, up from $1.775 per share. The increased payment to shareholders came as Canadian Tire reported its net income attributable to shareholders from continuing operations amounted to $169.1 million or $3.13 per diluted share for the quarter ended Sept. 27. The result compared with a profit of $198.5 million or $3.55 per diluted share in the same quarter last year. On an normalized basis, the company says it earned $3.78 per diluted share in its latest quarter, up from an normalized profit of $3.55 per diluted share a year ago. Revenue for the quarter totalled $4.11 billion, up from $3.99 billion a year ago, as consolidated comparable sales rose 1.8 per cent. Comparable sales at Canadian Tire stores were up 1.2 per cent, while SportCheck comparable sales gained 4.2 per cent. Mark’s comparable sales rose 2.5 per cent. This report by The Canadian Press was first published Nov. 6, 2025. Companies in this story: (TSX:CTC.A)
Category: Uncategorized
-
Sun Life Financial reports $1.1-billion in quarterly profit, down year-over-year
Sun Life Financial Inc. SLF-T -3.03%decrease reported $1.1 billion in net income during the third quarter, down from $1.35-billion during the same period a year earlier.
Earnings for the period ended Sept. 30 worked out to $1.97 per share, down from $2.33 per share a year ago.
The Toronto-based insurer says assets under management reached $1.6-trillion, rising by seven per cent from the same period last year.
The company also raised its common share dividend to 92 cents per share, up from 88 cents per share.
Sun Life CEO Kevin Strain says the company’s latest results reflect strong underlying net income in both Canada and Asia.
But he says U.S. businesses were “challenged.”
-
Nutrien considers selling phosphate business in bid to boost long-term value
Nutrien Ltd. NTR-T +4.00%increase has announced that it is putting its phosphate business up for strategic review in a bid to enhance the company’s long-term value.
Saskatchewan-based Nutrien’s phosphate division is worth around US$2.4-billion, according to Royal Bank of Canada analyst reports.
The global fertilizer major has six facilities across the United States, making it the second-largest producer in North America after the Florida-based Mosaic Co.
But of the four divisions within the company, phosphate is the smallest. In 2024, the division generated US$384-million in adjusted EBITDA, or earnings before interest, taxes, depreciation and amortization. Nitrogen and potash each generated upward of US$1.8-billion. The agricultural retail side of the business generated US$1.7-billion.
Nutrien to sell stake in Argentine nitrogen producer Profertil for $600-million
The move, announced Wednesday with the release of Nutrien’s third-quarter earnings, is therefore in keeping with the company’s commitment to streamline operations, pare back its portfolio and generate cash flow.
“We continue to progress our strategic initiatives and take actions to simplify our portfolio,” Ken Seitz, Nutrien’s president and chief executive officer, said in a press release Tuesday. He said the moves are aimed at “enhancing earnings quality, improving cash conversion and supporting growth in free cash flow per share over the long term.”
Phosphate is mined from underground deposits formed by marine sediment. It is essential to plant photosynthesis, maturing and reproduction. It is one of three key fertilizers used in major agricultural operations, alongside nitrogen and potassium. Phosphate is also used in animal feed for muscle repair and skeletal development, and it is used in soft drinks and food additives.
Globally, the largest phosphate producer is China, accounting for 36 per cent of worldwide output. North American producers mine 11 per cent of the world’s phosphate.
Mosaic is the largest producer on the continent, supplying two-thirds of the phosphate fertilizer used by American farmers. Nutrien is the only other major North American producer. It is also the continent’s largest producer of purified phosphoric acid, which it processes into solid and liquid fertilizers, feed and industrial acids.
Nutrien’s primary phosphate market is North America, and it reaches farmers through the company’s downstream network of agricultural retail operations. It owns 1,300 stores across North America, 200 in South America and 400 in Australia.
The company’s phosphate division suffered from a poor 2024 performance. Last year, sales volumes fell from almost US$2-billion to around US$1.7-billion, in part because Hurricane Helene temporarily shuttered Nutrien’s White Springs, Fla., facility in late September, stalling production. The hurricane also led to increased water treatment costs, which boosted production expenses.
This is not the first strategic review for Nutrien’s phosphate division. In 2019, the company closed facilities in Redwater, Alta., and Geismar, La., to focus production in its two major U.S. operations in Aurora, N.C., and White Springs. Nutrien said it was focused on fully integrating its assets. It wanted to mine rock onsite, which was possible in its U.S. operations.
The current review is part of Nutrien’s company-wide plans to generate strong cash flow and simplify its portfolio. At an investor day in June, 2024, the company rolled out plans to reduce controllable costs across operations and corporate functions by US$200-million by 2026 and maintain capital expenditures of US$2.2-billion to US$2.3-billion through to 2026. This would allow the company to “pursue high conviction capital deployment opportunities,” it said in a statement at the time.
This past September, Nutrien announced it would sell its 50-per-centequity position in Argentina-based nitrogen producer Profertil SA for approximately US$600-million.
Potential buyers for Nutrien’s phosphate operations could include Mosaic, and other fertilizer heavyweights such as Israel’s ICL Group Ltd. and Germany’s K+S AG, alongside private equity funds.
-
Kinaxis Inc. Reports Third Quarter 2025 Results
Kinaxis ® (TSX:KXS), a global leader in end-to-end supply chain orchestration, reported results for its third quarter ended September 30, 2025. All amounts are in U.S. dollars. All figures are prepared in accordance with International Financial Reporting Standards (IFRS) unless otherwise indicated.
“Our momentum continues as record new business for a third quarter drove accelerated ARR growth and allows us to confidently target even stronger results for fiscal 2025. Our AI-powered orchestration message is resonating well with exciting new global brands, the installed base, and business partners looking to work with a leader in the supply chain space” said Bob Courteau, interim chief executive officer at Kinaxis . “We just launched our initial Maestro Agents, which creates the opportunity for a new revenue stream for Kinaxis and allows for faster and better outcomes for our customers. One early adopter of the agents, a top-10 global pharmaceutical company, boosted planner productivity as much as tenfold in its work to identify inventory risks. We will be rolling out additional capabilities in coming months, reflecting a strong AI product pipeline.”
Q3 2025 Highlights
$ USD thousands, except as otherwise indicated Q3 2025 Q3 2024 Change Total Revenue 134,592 121,528 11% (constant currency 1 ) 132,296 9% SaaS 91,955 78,621 17% (constant currency 1 ) 90,509 15% Subscription term licenses 79 2,250 (96)% Professional services 37,022 35,471 4% Maintenance and support 5,536 5,186 7% Gross profit 85,949 76,365 13% Margin 64% 63% Profit 16,846 6,751 150% Per diluted share $0.58 $0.23 Adjusted EBITDA 1 33,922 30,013 13% Margin 25% 25% Cash from operating activities 33,645 29,945 12% (1) “Adjusted EBITDA” and constant currency metrics are non-IFRS measures that are not a recognized, defined or standardized measure under IFRS. These measures as well as any other non-IFRS financial measures reported by Kinaxis are defined in the “Non-IFRS Measures” section of this news release. Key Performance Indicators
The company’s Annual Recurring Revenue 2 (ARR), which includes subscription amounts related to both SaaS and on-premise contracts, rose to $407 million at the end of the quarter, or 17% growth as-reported and 17% in constant currency 1 .
$USD millions Q3 2025 Q3 2024 Change Annual recurring revenue 2 407 347 17% (2) Annual Recurring Revenue (ARR) is the total annualized value of recurring subscription amounts (ultimately recognized as SaaS, Subscription term licenses and Maintenance and support revenue) of all subscription contracts at a point in time. Annualized subscription amounts are determined solely by reference to the underlying contracts, normalizing for the varying revenue recognition treatments under IFRS 15 for cloud-based versus on-premise subscription amounts. It excludes one-time fees, such as for non-recurring professional services, and assumes that customers will renew the contractual commitments on a periodic basis as those commitments come up for renewal, unless such renewal is known to be unlikely. We believe that this measure provides a more current indication of our performance in the growth of our subscription business than other metrics. The nature of the company’s long-term contracts provides visibility into future, contracted revenue. The following table presents revenue expected to be recognized in the future related to performance obligations that are unsatisfied (or partially unsatisfied) at September 30, 2025.
$USD millions 2025 2026 2027 and later Total SaaS 92.3 314.5 403.2 810.0 Maintenance and support 5.3 14.6 15.3 35.2 Subscription term licenses 0.8 0.1 — 0.9 Total 98.4 329.2 418.5 846.1 Financial Guidance
Kinaxis is updating its fiscal 2025 financial guidance, as follows.
FY 2025 Guidance Total revenue $535-550 million Constant currency 1 $535-550 million SaaS 15-17% growth Constant currency 1 14-16% growth Subscription term license $15-16 million Adjusted EBITDA 1 margin 24-26% “Q3 was an outstanding quarter for Kinaxis. Ongoing strength in winning new business positions us well to exit 2025 with a higher ARR growth rate than we did last year, and to target our normalized 25% adjusted EBITDA target a full year ahead of plan. Our updated subscription term license revenue guidance reflects our success converting on-premise business to SaaS, so customers can take advantage of exciting new innovations that are only available in our cloud environments,” said Blaine Fitzgerald, chief financial officer at Kinaxis . “Overall, I am very pleased with the momentum in our business. We’ve been successful in simultaneously improving growth and profitability in recent quarters, which is testimony to demand in our space, and our company-wide efforts to achieve scalability and focus on our very best opportunities.”
Guidance in this press release is provided to enhance visibility into Kinaxis’ expectations for financial targets for the periods indicated. Please refer to the section regarding forward-looking statements that forms an integral part of this release. This press release along with the financial statements and MD&A for the quarter ended September 30, 2025 are available on Kinaxis’ website and on SEDAR+ at www.sedarplus.ca .
-
TC Energy misses profit estimates on weakness in U.S .operations, power business
TC Energy TRP-T -0.40%decrease missed estimates for third-quarter profit on Thursday, hurt by weakness in the pipeline operator’s U.S. operations and in its power and energy solutions business.
AI-driven power demand, industrial applications and LNG exports are driving up natural gas consumption, yet price pressures and competition from coal remain ongoing market challenges.
U.S. natural gas futures fell over 4 per cent sequentially, extending a decline that began in the second quarter after snapping four consecutive quarters of gains.
The drop in prices weighed on TC Energy’s transport volumes.
Net income from the company’s U.S. natural gas pipelines, its largest segment, fell to $801-million in the third quarter, from $1.3-billion a year ago.
Adjusted core profit in the power and energy solutions business was $266-million in the quarter, down 18.4 per cent from a year ago.
However, its Canadian natural gas pipelines saw adjusted core earnings rise to $913-million in the quarter ended Sept. 30, from $845-million a year ago.
Climate activists say B.C. needs to conduct new assessment for natural gas pipeline
The company operates a 58,100 mile-long network of pipelines, supplying more than 30 per cent of the clean-burning natural gas consumed daily across North America.
The company expects adjusted core profit for 2026 to be in the range of US$11.6-billion to US$11.8-billion, nearly 6 per cent to 8 per cent growth year-over-year.
It also anticipates 2028 core profit to be in the range of US$12.6-billion to US$13.1-billion, representing a 5 per cent to 7 per cent annual growth rate between 2025 and 2028.
On an adjusted basis, the Calgary-based company earned 77 Canadian cents per share for the three months, compared with analysts’ average expectation of 80 Canadian cents, according to data compiled by LSEG.
-
Canadian Natural tops profit estimates as production strength offsets weak oil prices
Canadian Natural Resources CNQ-T -0.67%decrease on Thursday posted quarterly earnings that narrowly beat analysts’ estimates, as record oil and gas production helped offset a decline in crude prices.
The country’s oil sands producers, including Canadian Natural Resources, have shown resilience during the global oil industry downturn, buoyed by years of investment that have made them among the lowest-cost operators in North America.
Quarterly production jumped about 19 per cent from a year earlier to a record 1.62 million barrels of oil equivalent per day (boepd), driven by both acquisitions and strong operational performance.
The Calgary-based company raised its 2025 production guidance to between 1.56 million and 1.58 million boepd from a prior range of 1.51 million to 1.55 million boepd, citing newly integrated assets and stable field performance.
Following its asset swap with Shell Canada SHEL-N -0.05%decrease on Nov. 1, Canadian Natural now fully owns and operates the Albian oil sands mines and associated reserves, and holds an 80-per-cent non-operated stake in the Scotford Upgrader and Quest facilities.
The deal adds about 31,000 barrels per day of low-decline bitumen output, further strengthening its oil sands business.
The company kept its annual capital budget steady at about $5.9-billion.
While weaker Western Canadian Select differentials and maintenance work have tempered margins at times, Canadian producers remain well-positioned heading into 2026 with disciplined capital spending.
For Canadian Natural, realized price of exploration and production liquids fell 8.3 per cent in the reported quarter to $72.57 per barrel.
The quarter included a $700-million charge related to updated cost estimates for its Ninian and T-Block assets in the North Sea.
On an adjusted profit of 86 cents a share for the three months ended Sept. 30, compared with analysts’ average estimate of 85 cents, according to data compiled by LSEG.
-
BCE revenue flat as focus shifts to expanding AI division
BCE Inc. BCE-T +2.75%increase posted flat revenue and fewer net new mobile customers in its third quarter, year-over-year, as it focused on expanding its artificial intelligence division.
The telecom and media company also raised doubts Thursday about a proposed $1-billion divestiture, first announced more than a year ago.
Still, the company could stand to gain from new measures introduced in the federal budget Tuesday, executives said.
BCE reported revenue of $6-billion in the quarter ended Sept. 30, up 1.3 per cent from the same period last year and in line with analyst consensus.
It added 68,000 net new mobile phone subscribers in the quarter,below last year’s results and analyst expectations of about 85,000.
Net new internet additions were 26,100, down from 42,000 last year, reflecting aggressive promotional offers by competitors offering cable, wholesale fibre, fixed wireless and satellite internet services.
“The market is growing, but it is growing at a slower rate across the board,” BCE chief executive officer Mirko Bibic said in an interview Thursday morning. However, he noted that the company’s fibre segments in Canada and the United States gained 65,000 new customers during the quarter.
Meanwhile, BCE’s legacy businesses continue to decline, losing 46,000 home phone subscribers and 16,100 video customers during the quarter. Advertising revenue was down 11.5 per cent.
While the sector continues to face headwinds, including lower immigration, a mature market and macroeconomic uncertainty, analysts broadly believe the Canadian telecom industry is moving beyond the trough – the lowest point in the economic cycle – in terms of mobile subscription pricing and stock valuations.
“The Canadian telco business unsurprisingly continued to exhibit weakish results, but we expect the recent price ups in wireless to begin to support results in 2026,” said Scotiabank analyst Maher Yaghi in a note to investors Thursday morning.
BCE is betting on its AI solutions business to feed that growth. Revenue from that division was up 34 per cent in the quarter, Mr. Bibic said in the interview, putting the company on track for approximately $700-million for the segment in 2025.
Selling BCE for the tax loss? Read this first
He said he was encouraged by measures in the federal budget, which provides some new funding for major AI projects and commits Ottawa to engaging industry to seek new projects.
“I think we’ll be able to capitalize on that, in general terms, because that’s a measure to increase adoption in a sovereign way,” he said in a call with analysts Thursday morning.
The budget also included tax changes that will allow companies to write down capital expenditures more quickly. Mr. Bibic said in the interview that those measures could affect BCE investment decisions, given that the company spends billions on such expenditures each year.
However, one major potential source of cash for the company is dragging.
On the call with analysts, Mr. Bibic said the proposed $1-billion sale of the company’s northern division, Northwestel Inc., would “more likely” close in 2026, as the buyers are still working with the federal government to secure funding.
“I think given the amount of time this has taken, it’s worth saying the following: We want to close the deal, for sure, but we’re also happy to operate Northwestel and to serve residents in the North. It’s a good, healthy, strong asset. And look, close or not close, it has a minimal impact on deleveraging,” Mr. Bibic said.
When BCE first announced the plan to sell Northwestel to an Indigenous coalition in 2024, it said it intended to use the proceeds to pay down debt. But Mr. Bibic said Thursday that BCE wasn’t trying to dispose of Northwestel for the purposes of deleveraging but rather for “altogether different reasons.”
The company had $35-billon in long-term debt as of Sept. 30.
-
Canadian Tire profit falls on restructuring costs amid upbeat discretionary spending
Canadian Tire Corp. Ltd. CTC-A-T +6.50%increase reported sales growth in its third quarter, even amid concerns about softening consumer spending, while expenses related to a major restructuring plan led to a decline in profits.
The Toronto-based retailer reported on Thursday that sales increased across its store banners. Sales growth was slowest at the flagship Canadian Tire chain, which saw stronger demand in Ontario and Quebec, offset by weaker sales in Alberta.
Consumer demand also shifted, with growth in discretionary purchases – such as seasonal and entertainment products – outpacing the growth of essential purchases for the first time since 2021. Shoppers have been more conservative about non-essential spending in recent years, as inflation and concerns about the health of the economy have led many households to cut back.
The company’s SportChek banner had the strongest growth in the quarter ended Sept. 27, which was boosted by back-to-school shopping and hockey equipment purchases. Mark’s stores benefited from demand for workwear, jeans and fall seasonal products.
Canadian Tire to launch limited Hudson’s Bay holiday collection next month
Comparable sales – which measures growth at stores open for more than a year, to monitor growth not driven by new store openings – increased by 1.8 per cent compared to the same period last year. Sales at the company’s retail stores grew by 3.2 per cent in total. Not including sales at the company’s gas stations, retail sales were up 5.9 per cent.
Canadian Tire reported that net income attributable to shareholders fell to $169.1-million or $3.13 in diluted earnings per share in the third quarter, compared to $198.5-million or $3.55 per share a year ago.
The dip in earnings was largely attributed to expenses related to the company’s True North strategy – a $2-billion plan to strip out inefficiencies in the business, reorganize the operations, expand the Triangle loyalty program, update stores, and improve digital performance. Not including that and other factors, normalized net income attributable to shareholders grew to $204.3-million or $3.78 in normalized diluted earnings per share.
As part of that strategy, Canadian Tire cut an unspecified number of corporate jobs during the quarter. On Thursday, the company reported that it expects to see its first quarter of cost savings from its restructuring in the fourth quarter.
The company announced a dividend increase to $7.20 per share on an annualized basis, up from $7.10.
Consolidated revenue grew by 3 per cent year-over-year to $4.1-billion.
-
US Private payrolls rose 42,000 in October, more than expected and countering labor market fears, ADP says
- Private companies added 42,000 jobs in October, following a decline of 29,000 in September and topping the Dow Jones consensus estimate for a gain of 22,000.
- All of the job creation came from companies employing at least 250 workers. That category added 76,000 jobs, while smaller businesses lost 34,000.
- The ADP count comes out the first Wednesday of the month and usually takes a back seat to the official nonfarm payrolls report, which won’t be released because of the government shutdown.