Air Canada Q3 Profit Plummets as Strike Hits Earnings

Air Canada reports Q3 profit of $264M, down from a year ago as labour stoppage weighs

Air Canada posted net income of $264 million for the third quarter, a sharp decline from $2.04 billion in the comparable period last year. Diluted earnings per share were 88 cents, down from $5.38 per share a year earlier. Operating revenue slipped to $5.77 billion, roughly 5% below the prior-year quarter.

The results reflect the impact of a three-day work stoppage by more than 10,000 flight attendants in August, which led to over 3,000 cancelled flights and disrupted peak summer travel. Management said the results aligned with the company’s revised guidance after adjusting for the labour disruption; Air Canada previously estimated the strike cost at about $375 million and lowered its full-year outlook in September.

Fortis reports $409-million third-quarter profit, raises dividend

Fortis reported third-quarter net income of $409 million and announced an increase to its quarterly dividend, now 64 cents per share (up from 61.5 cents). Earnings per share were 81 cents compared with 85 cents a year earlier; on an adjusted basis the company earned 87 cents per share, slightly higher than the prior-year adjusted result.

Revenue rose to $2.94 billion, driven by regulated utility operations. As part of its outlook, Fortis unveiled a new five-year capital plan for 2026–2030 totaling $28.8 billion, an increase of $2.8 billion over the previous plan, intended to support grid upgrades and reliability projects.

Thomson Reuters reports third-quarter profit and revenue up from year ago

Thomson Reuters reported net income of US$423 million for the quarter ended Sept. 30, with adjusted EPS of US$0.85 versus US$0.80 a year earlier. Revenue rose about 3% to US$1.78 billion. The company continued to expand its AI and tax solutions capabilities, acquiring Additive AI Inc., which specializes in AI-powered tax document processing, and divesting a minority stake in Elite, a practice management provider.

Suncor reports decline in third-quarter profits, record production

Suncor reported net earnings of $1.62 billion for the quarter, down from $2.02 billion a year earlier as oil prices remained subdued. Despite the lower profit, the company hit record upstream production of 870,000 barrels of oil equivalent per day and increased refinery throughput to 491,700 barrels per day.

CEO Rich Kruger emphasized the benefits of Suncor’s integrated model in delivering steadier free cash flow and reduced volatility. The company also raised its quarterly dividend by 5% to 60 cents per share.

Uranium miner Cameco raises annual dividend, reports small Q3 loss

Cameco posted a small net loss of $158,000 for the quarter and announced an increase in its annual dividend to 24 cents per share from 16 cents. Revenue from products and services declined to $614.6 million. On an adjusted basis the company reported seven cents of earnings per diluted share, up from six cents a year earlier.

The company also confirmed a partnership with Brookfield Asset Management and the U.S. government aimed at supporting new nuclear reactor builds, reinforcing its strategic role in the growing clean-energy nuclear sector.

Maple Leaf Foods reports $43.1M Q3 profit, sales up 8% from year ago

Maple Leaf Foods delivered a strong year-over-year improvement, reporting Q3 net income of $43.1 million and total sales of $1.36 billion, an 8% increase. Adjusted earnings per share were 49 cents, up from 18 cents the previous year. Prepared foods, poultry and pork all contributed to sales growth, though higher input costs—particularly for beef and turkey—squeezed margins.

The company completed the spin-off of its pork business as Canada Packers Inc., which began reporting results separately this quarter.

Insurance giant Sun Life Financial reports $1.1B in Q3 profit, down year-over-year

Sun Life reported net income of $1.1 billion for Q3, with EPS of $1.97 compared to $2.33 a year earlier. Assets under management grew to $1.6 trillion, up 7% year-over-year. The company increased its common share dividend to 92 cents from 88 cents. Management noted strong performance in Canada and Asia while citing challenges in certain U.S. operations.

Cineplex reports $1.2M third-quarter profit, revenue down from year ago

Cineplex returned to a small profit of $1.2 million after a year-ago loss, while revenue declined about 9% to $348.9 million. Attendance fell to 12.1 million patrons from 13.3 million, though box-office revenue per patron edged higher. Cineplex recently agreed to sell its digital signage arm, Cineplex Digital Media, to a U.S. buyer for $70 million as part of ongoing strategic adjustments.

Corus Entertainment announces recapitalization deal, will swap debt for shares

Corus Entertainment Inc. has reached a recapitalization agreement under which holders of $500 million in senior notes will receive roughly 99% of the restructured company’s equity, with existing shareholders retaining about 1%. The transaction is designed to meaningfully reduce third-party indebtedness and related liabilities by more than $500 million and to generate up to $40 million in annual cash interest savings.

Corus said the deal strengthens the company’s balance sheet and supports its long-term strategy. The broadcaster operates television networks, radio stations and digital and streaming platforms, including Global Television.

Canadian quantum company Xanadu Quantum Technologies going public

Photonic quantum computing company Xanadu Quantum Technologies Inc. has agreed to go public via a business combination with special purpose acquisition company Crane Harbor Acquisition Corp., with planned listings on the Toronto Stock Exchange and Nasdaq. The transaction values the combined company at an estimated pro forma enterprise value of about US$3.1 billion.

Gross proceeds are expected to be roughly US$500 million, including a US$275 million private placement, subject to redemptions. Proceeds will support development and deployment of Xanadu’s photonic quantum systems and its PennyLane software platform. Founded in 2016, Xanadu already counts customers such as Volkswagen, Mitsubishi Chemical Group and Rolls-Royce.

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