Air Canada Leads TSX as Guidance Paused Amid Fuel Risk

Air Canada suspends 2026 full-year guidance amid uncertain jet fuel costs

Air Canada has paused its guidance for the full 2026 fiscal year, citing continued volatility in jet fuel costs driven by geopolitical tensions in the Middle East. The airline did, however, provide a more focused outlook for the second quarter.

For the first quarter, Air Canada reported net income of $48 million, a notable improvement from a $102 million loss in the same period last year. Diluted earnings per share were 16 cents, compared with a 40-cent loss per diluted share in the prior-year quarter. The airline also posted a record first-quarter operating revenue of $5.8 billion, up from $5.2 billion a year earlier.

CEO Michael Rousseau said the company expects to offset roughly 50 to 60 percent of incremental fuel costs in the second quarter through a combination of commercial measures and cost actions. Air Canada now anticipates adjusted earnings before deductions in the second quarter to range between $575 million and $725 million.

Canada Packers reports Q1 earnings of $43.8M as sales fell

Canada Packers Inc. reported a first-quarter profit of $43.8 million, or $1.46 per diluted share, compared with $34.1 million, or $1.15 per diluted share, in the same quarter a year earlier. Sales declined to $428.3 million from $452 million in the prior-year period.

On an adjusted basis, the company recorded earnings of $0.54 per share, down from $0.89 per share a year earlier. Chief Executive Dennis Organ noted that strong operating performance helped mitigate currency headwinds experienced year over year.

Canada Packers represents the pork operations of Maple Leaf Foods Inc., which were spun off in October 2025 to form a standalone company. Management emphasized operational resilience amid softer sales, focusing on margin management and cost discipline as the business integrates into its independent structure.

Bombardier reports Q1 profit and revenue up from year ago

Bombardier Inc., which reports in U.S. dollars, posted a first-quarter profit of US$53 million, up from US$44 million in the same period last year. Diluted earnings were US$0.45 per share, compared with US$0.37 per share a year earlier. On an adjusted basis, Bombardier earned US$1.81 per share, a significant increase from US$0.61 per share the prior year.

Revenue rose 5 percent to US$1.60 billion. The company delivered 24 aircraft in the quarter, up from 23, and reported an order backlog of US$20.3 billion at March 31. Bombardier highlighted steady demand and disciplined delivery execution as drivers of the quarter’s improvement.

Toy company Spin Master reports US$32M Q1 loss, revenue down from year ago

Spin Master Corp. reported a first-quarter loss of US$32.0 million, or US$0.32 per share, compared with a loss of US$24.5 million, or US$0.24 per share, a year earlier. On an adjusted basis, the company lost US$0.24 per share versus a US$0.12 per-share loss in the prior-year quarter.

Revenue declined about 9 percent to US$328.5 million from US$359.3 million. Toy revenue fell to US$240.9 million from US$273.7 million, while entertainment revenue rose modestly to US$40.8 million from US$37.8 million. Digital games revenue was US$46.8 million, slightly below last year’s US$47.8 million.

Gildan reports Q1 loss as it works to integrate HanesBrands acquisition

Gildan Activewear reported a US$65.8 million loss for the quarter ended March 29, versus a US$84.7 million profit a year earlier. The result reflects acquisition and integration costs linked to the purchase of HanesBrands Inc. Diluted loss per share was US$0.36, compared with diluted earnings of US$0.56 per share in the prior-year period.

On an adjusted basis from continuing operations, Gildan reported US$0.43 per diluted share, down from US$0.59 a year earlier. Net sales rose to US$1.17 billion from US$711.7 million, reflecting the inclusion of HanesBrands in consolidated results for the first full quarter since the acquisition.

Shares traded higher after the results, and company management said integration progress is on track. Gildan reiterated expectations to realize approximately US$100 million in synergies in 2026 and to reach about US$250 million in annual run-rate cost synergies over the next three years, as integration advances.

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