Q4 Earnings Roundup: Manulife, Sun Life, Air Canada Stocks

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Manulife reports $1.5 billion in Q4 earnings, raises dividend by 10%

Manulife reported net income of $1.5 billion attributable to shareholders in the fourth quarter, a decline from $1.64 billion in the same period the previous year. The company also announced a dividend increase of just over 10%, bringing the new quarterly payout to $0.49 per common share.

On a per-share basis, quarterly earnings were $0.83, down roughly 6% from $0.88. Management highlighted stronger core or adjusted earnings, which rose to $2 billion from $1.9 billion a year earlier. Core earnings were supported by improved results in both the Asia and Canada segments, with Asia contributing about US$564 million and Canada contributing $413 million in the quarter.

Manulife’s CEO described the year as an important milestone, noting record core earnings that underpinned the company’s capital strength and the decision to raise the dividend.

Sun Life Financial reports $722M Q4 profit, up from $237M last year

Sun Life reported net income of $722 million for the quarter, a sharp improvement from $237 million a year earlier. The prior-year quarter had been affected by a $186 million writedown and weaker investment income, which helped explain much of the swing in profit.

Earnings per share rose to $1.96 from $1.68. Underlying net income in the asset management and wealth business reached $534 million, while the health and protection business generated $308 million in underlying net income. Assets under management increased modestly during the period.

Sun Life’s management pointed to healthy earnings and strong sales momentum in Asia and steady wealth sales in Canada as contributors to the improved results.

Cineplex reports $369,000 Q4 profit, down from $3.3M a year earlier

Cineplex reported a much smaller fourth-quarter profit of $369,000 versus $3.3 million a year earlier, and revenue dipped to $334.8 million from $340.9 million. Per-share earnings were roughly one cent, compared with five cents per diluted share in the previous year’s quarter.

The company saw attendance fall to 10.1 million from 11.1 million year over year, although box office revenue per patron increased, as did concession revenue per patron—indicating higher spend among those who attended.

Separately, Cineplex announced a board change: longtime director Robert Bruce has retired and will be replaced by former Scotiabank executive Sean McGuckin.

Air Canada posts Q4 profit of $296M, up from loss a year earlier

Air Canada reported a return to profitability with net income of $296 million in the fourth quarter, reversing a loss of $644 million from the previous year. Diluted earnings per share were $1.00. The airline posted record operating revenue of $5.8 billion for the quarter, higher than the prior year.

Management noted that results came amid shifting demand patterns and ongoing macroeconomic and geopolitical uncertainty. The airline also announced a major fleet investment, acquiring eight Airbus A350-1000 wide-body aircraft with purchase rights for additional planes.

Operationally, Air Canada took a short-term measure to suspend flights to Cuba due to a reported fuel shortage affecting that destination.

Brookfield Corp. Q4 profit rises; company raises quarterly dividend

Brookfield reported higher fourth-quarter net income attributable to shareholders at US$743 million, up from US$432 million a year earlier. Revenue grew to US$20.16 billion. In response to improved results, the company raised its quarterly dividend to US$0.07 per share from US$0.06.

Distributable earnings metrics were steady with distributable earnings before realizations at US$0.63 per share and total distributable earnings at US$0.67 per share, both roughly in line with the prior year. Brookfield continued to report a substantial pool of capital available for investment, reflecting its scale and private fund commitments.

Fortis posts $422M Q4 profit, revenue rises to $3.08B

Fortis reported fourth-quarter net income of $422 million, an increase from $396 million a year earlier. Diluted earnings per share rose to $0.83, while adjusted earnings were $0.90 per share. Revenue for the quarter totaled $3.08 billion, up from $2.95 billion the previous year. Fortis continues to serve customers across multiple provinces, U.S. states and in the Caribbean.

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