Barrick Leads Q3 Gains as Canadian Firms Report Mixed Results

Barrick reports Q3 profit up from year ago, raises base quarterly dividend

Barrick Mining reported a strong third quarter, with net income of US$1.3 billion, more than doubling from the prior-year period. Earnings per diluted share rose to US$0.76 from US$0.28 a year earlier. Revenue climbed to US$4.15 billion. On an adjusted basis the company reported US$0.58 per share, up from US$0.30 a year ago.

Gold output declined to 829,000 ounces from 943,000 ounces year-over-year, but the company realized an average gold price of US$3,457 per ounce versus US$2,494 previously. Copper production rose to 55,000 tonnes and realized copper prices increased slightly to US$4.39 per pound. Reflecting improved results and commodity pricing, Barrick raised its base quarterly dividend to US$0.125 per share and declared an additional performance dividend of US$0.05, bringing the total payout for the quarter to US$0.175 per share.

Management update: Mark Hill was named interim president and CEO in September following the sudden departure of Mark Bristow. Barrick is working with an executive search firm to appoint a permanent replacement.

MEG Energy reports $159M in Q3 profit, down from last year

MEG Energy’s net earnings dipped to $159 million in Q3. Diluted EPS was unchanged at $0.62. Revenue decreased to $1.18 billion despite record production of 108,166 barrels per day, up from 103,298 bpd in the prior-year quarter. Shareholders recently approved Cenovus Energy’s proposed $8.6-billion takeover, which is expected to close after final court approval and customary closing conditions.

Loblaw sees Q3 profit and revenue rise as discount banners gain traction

Grocery and pharmacy operator Loblaw reported higher profit and revenue for the 16-week quarter. Profit attributable to common shareholders was $794 million, or $0.66 per diluted share, compared with $777 million a year earlier. Revenue rose to $19.40 billion.

The company noted stronger performance from its hard-discount and Real Canadian Superstore banners, while food same-store sales climbed 2% and drug retail same-store sales increased 4%. On an adjusted basis Loblaw reported $0.69 per diluted share, up from $0.62.

Manulife posts $1.8B Q3 earnings; core earnings increase

Manulife reported net income attributable to shareholders of $1.8 billion. Its adjusted or “core” earnings rose to $2.0 billion from $1.83 billion a year earlier. Strong contributions from Asia and Canada were noted: core earnings in Asia reached US$550 million and Canada delivered $428 million.

The insurer also launched a Longevity Institute platform and pledged $350 million in funding through 2030 to support initiatives aimed at improving longevity and financial security.

Linamar posts higher Q3 profit despite slightly lower revenue

Auto parts manufacturer Linamar reported net earnings of $169.2 million, with diluted earnings of $2.82 per share versus $2.24 a year earlier. Sales were $2.5 billion. The company emphasized continued compliance with the Canada–U.S.–Mexico trade agreement, helping to keep many U.S.-bound shipments tariff-free.

Linamar also signalled an acquisitive stance in a low-growth environment and announced a US$300 million deal to buy select North American assets from Aludyne Inc. to expand its U.S. manufacturing footprint.

Brookfield reports profit attributable to shareholders up year-over-year

Brookfield reported a higher net income attributable to shareholders, at US$219 million for the quarter. Profit per diluted share was US$0.08. Revenue declined year-over-year but distributable earnings rose to US$0.63 per share. Management credited record results in asset management, growth in wealth solutions and resilient operating businesses, and the company finished the quarter with a record US$178 billion of deployable capital.

Hydro One Q3 profit up; CEO returns from compassionate leave

Hydro One reported higher third-quarter net income, with earnings attributable to common shareholders of $421 million or $0.70 per diluted share. Revenue rose modestly to $2.30 billion. The utility also confirmed that David Lebeter has resumed his role as president and CEO after a compassionate care leave.

MDA Space posts revenue growth as profit dips slightly

MDA reported a 45% year-over-year increase in revenue to $409.8 million, while net income fell to $24.4 million. Adjusted EPS improved to $0.35 from $0.28. Satellite systems drove most of the revenue gain, supported by growth in robotics and space operations. The company reported a backlog of $4.4 billion at quarter end.

George Weston reports strong Q3 profit and nearly 5% revenue growth

George Weston reported a significant year-over-year increase in net profit, with $477 million attributable to shareholders and adjusted earnings of $1.37 per diluted share. Revenue rose nearly 5% to $19.55 billion. Management noted stronger customer traffic at Loblaw and robust tenant demand at Choice Properties, positioning the company for continued growth.

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