Canadian Stocks Weekly: Dividend Hikes and Earnings

Suncor posts record production in fourth quarter; adjusted profit inches lower

Oilsands giant Suncor Energy Inc. reported net earnings of $1.48 billion for the fourth quarter of 2025, up from $818 million a year earlier. That equates to $1.23 per share versus $0.65 per share in the prior-year period.

On an adjusted basis — which excludes unusual items and is the company’s preferred measure of underlying performance — Suncor posted adjusted operating earnings of $1.33 billion, or $1.10 per share. That compares with adjusted operating earnings of $1.57 billion, or $1.25 per share, in the same quarter of 2024.

Operating revenues, after royalties, were $12.04 billion for the quarter, slightly below the $12.53 billion reported a year earlier. Suncor recorded a record total upstream production of 909,000 barrels per day, up from 875,000 bpd in the comparable quarter of 2024.

ATS reports stronger quarter as revenue climbs

ATS Corp. reported third-quarter net income of $30.0 million, up from $6.5 million a year earlier, as revenue rose nearly 17% year over year. The quarterly profit translated to $0.30 per diluted share, compared with $0.07 per diluted share in the prior-year quarter.

On an adjusted basis, ATS earned $0.48 per share in the quarter, improving from an adjusted $0.32 per share a year earlier.

Quarterly revenue reached $760.7 million, up from $652.0 million. ATS credited the results to solid organic growth across its portfolio, including continued momentum in services.

The company reported an order backlog of $2.05 billion at quarter end, essentially flat relative to $2.06 billion a year earlier.

CGI posts modest profit increase; announces OpenAI collaboration

CGI Inc. reported a first-quarter profit of $442.0 million, up from $438.6 million a year earlier, with revenue rising nearly 8% to $4.08 billion from $3.79 billion. The company said the profit amounted to $2.03 per diluted share for the quarter ended Dec. 31, up from $1.92 per diluted share a year earlier.

On an adjusted basis, CGI earned $2.12 per diluted share in the quarter, versus $1.97 per diluted share in the same quarter last year. The firm also announced a collaboration with OpenAI intended to expand the use of artificial intelligence across its services and help clients adopt AI in their operations.

CGI employs approximately 94,000 consultants and professionals worldwide who provide business and technology consulting services.

Thomson Reuters posts Q4 profit, increases quarterly dividend by 10%

Thomson Reuters reported fourth-quarter profit of US$332 million, down from US$587 million a year earlier, and announced a 10% increase to its quarterly dividend. The company said it will pay US$0.655 per share each quarter, up from US$0.595.

Profit per diluted share for the quarter was US$0.74, down from US$1.30 in the prior-year period. Revenue rose to US$2.01 billion from US$1.91 billion in the fourth quarter of 2024. On an adjusted basis, the company reported earnings of US$1.07 per share, up from US$1.01 a year earlier.

The adjusted result slightly exceeded the average analyst estimate compiled by LSEG Data & Analytics, which was roughly US$1.06 per share.

BCE reports $594M Q4 profit; Crave subscribers rise sharply

BCE Inc. reported fourth-quarter profit attributable to common shareholders of $594 million, or $0.64 per share, up from $461 million, or $0.51 per share, a year earlier. Total operating revenue was $6.40 billion, slightly below $6.42 billion reported in the fourth quarter of 2024.

On an adjusted basis, BCE earned $0.69 per share in the quarter, compared with $0.79 per share a year earlier. Analysts had expected about $0.63 adjusted per share, according to data compiled by LSEG Data & Analytics.

Net postpaid wireless additions were 56,124 last quarter, a small decline from 56,550 a year earlier. BCE cited a less active market, slower population growth related to immigration policy changes and a focus on higher-value subscribers as contributors to the decline.

Customer churn improved to 1.49%, marking the third consecutive quarter of year-over-year improvement. Average revenue per user for mobile was $56.72, down 0.8% from a year ago, reflecting competitive pricing pressures, lower overage revenue as more customers moved to larger or unlimited data plans, and reduced roaming revenue.

Subscriptions to BCE’s Crave streaming service rose 26% in the quarter to 4.6 million, helped by the November debut of the original series “Heated Rivalry.” The company said its 2026 guidance aligns with the three-year financial outlook shared last year and expects revenue growth of 1% to 5% year over year.

Canada Goose Q3 profit slips while revenue grows 14%

Canada Goose Holdings Inc. reported third-quarter profit attributable to shareholders of $134.8 million, down from $139.7 million a year earlier. The company said profit amounted to $1.36 per diluted share for the quarter ended Dec. 28, compared with $1.42 per share in the prior-year period.

Revenue for the quarter rose 14.2% to $694.5 million from $607.9 million. Direct-to-consumer sales were $591.0 million, up from $517.8 million, while wholesale revenue increased to $88.3 million from $75.7 million. Other revenue was $15.2 million versus $14.4 million a year earlier.

On an adjusted basis, Canada Goose reported earnings of $1.43 per diluted share, down from $1.51 a year earlier. Analysts had expected an adjusted profit of approximately $1.66 per share and revenue near $658.5 million, according to LSEG Data & Analytics.

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