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The airline beat estimates as it reported adjusted earnings before interest, taxes, depreciation and amortization of $1.2 billion, above the consensus of $919 million and more than $1 billion above the figure recorded in the second quarter of 2022.THIS CONTENT IS RESERVED FOR SUBSCRIBERS ONLYExclusive articles by Kevin Carmichael, Victoria Wells, Jake Edmiston, Gabriel Friedman and others.
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Manulife Reports 14% Jump in Adjusted Earnings Driven by Strong Insurance Sales in AsiaManulife, a leading financial services company, has reported a 14% increase in adjusted earnings, largely due to stronger insurance sales in Asia. The company's Asian business, which accounts for 35% of its overall profits, has seen a significant recovery in sales, particularly in Hong Kong, Singapore, mainland China, and Indonesia. The reopening of the border with China has contributed to the growth in Hong Kong sales, which have doubled compared to the previous year. This recovery is seen as a positive sign of future growth in the region.
Source: globeandmail - 🏆 5. / 92 Read more »
WSP Global raises earnings forecast as earnings climbIn the three months ended July 1, the engineering firm says net earnings attributable to shareholders rose to $150.7 million from $89.3 million in the same period a year earlier
Source: globeandmail - 🏆 5. / 92 Read more »
Air Canada Posts Strong Quarterly Earnings Despite Flight DelaysAir Canada reported quarterly earnings that reached pre-pandemic levels, with net income of $838 million compared to a loss of $386 million the previous year. The airline attributed the strong earnings to high travel demand and higher ticket prices. Despite tens of thousands of flight delays, Air Canada saw over 11 million customers in the quarter. However, the company's operations failed to meet expected levels due to severe weather and global supply chain issues, resulting in consistently late or cancelled flights.
Source: globebusiness - 🏆 31. / 66 Read more »
Quebecor Inc. Reports Boost in Earnings Following Freedom Mobile AcquisitionQuebecor Inc. has announced a significant increase in earnings after acquiring Freedom Mobile, adding over 1.8 million customers. The company reported a 10% rise in net income and a 25% jump in revenues in the second quarter. Quebecor's entry into the national wireless market through the purchase of Freedom Mobile has positioned it as Canada's fourth national wireless provider.
Source: BNNBloomberg - 🏆 83. / 50 Read more »
Martinrea International Inc. Reports Record Revenue and Earnings in Q2 2023Martinrea International Inc., a parts supplier based in Vaughan, Ontario, achieved record revenue and adjusted earnings in the second quarter of 2023. The company's sales reached $1.36 billion, up from $1.11 billion in the same quarter of 2022. Adjusted net earnings nearly doubled to 62 cents per share. The CEO, Pat D'Eramo, stated that these strong results indicate ongoing improvement in the auto sector. The company attributed the revenue and earnings gains to a less volatile production environment and positive commercial settlements with its customers. D'Eramo also highlighted the importance of regular negotiations with automakers to ensure fair part prices amidst fluctuating input costs and high inflation rates.
Source: AutoNewsCanada - 🏆 77. / 51 Read more »
Osisko Gold Royalties Reports Increase in Q2 2023 EarningsOsisko Gold Royalties has announced that it earned 24,645 gold equivalent ounces in Q2 2023, representing an 11% increase compared to Q2 2022. The company's revenues from royalties and streams reached C$60.5 million, with cash flows generated by operating activities amounting to C$47.4 million. Osisko also declared a quarterly dividend of C$0.06 per common share, marking a 9% increase over the previous quarter. Despite challenges faced by operating partners due to wildfires, the company remains optimistic about meeting its 2023 guidance.
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