Quarterly Earnings: Shopify and Brookfield Up, Suncor Down

Shopify records US$906 million profit in Q2 as revenue jumps by 31%

Shopify Inc. reported a net profit of US$906 million for the quarter ended June 30, a significant rise from the US$171 million it earned in the same period last year. The company, which reports in U.S. dollars, said this equates to a diluted earnings per share of US$0.69 versus a diluted loss of US$0.13 a year earlier.

Excluding the impact of equity investments, Shopify’s net income for the quarter was US$338 million, up from US$291 million in the prior year. Total revenue rose 31% to US$2.68 billion. Subscription solutions revenue grew to US$656 million from US$563 million, while merchant solutions revenue increased to US$2.02 billion from US$1.48 billion.

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Suncor reports $1.13 billion Q2 net income, revises down spending estimate

Suncor Energy reported second-quarter net income of US$1.13 billion for the period ended June 30, down from US$1.57 billion in the same quarter last year. The decline was largely driven by lower oil prices, despite record second-quarter production and increased refinery throughput following major maintenance work.

Adjusted operating earnings were US$873 million, down from US$1.63 billion a year earlier. Adjusted earnings per share stood at US$0.71, compared with US$1.27 in the prior-year quarter; the mean analyst estimate had been US$0.69 per share, according to LSEG Data & Analytics. Suncor also reduced its full-year capital spending guidance by US$400 million, revising the range to US$5.7 billion–US$5.9 billion.

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Brookfield Asset Management reports second-quarter profit up from year ago

Brookfield Asset Management Ltd. reported net income of US$620 million for the quarter ended June 30, up from US$495 million a year earlier. That equates to US$0.38 per diluted share, compared with US$0.31 in the same quarter of 2024. Revenue rose to US$1.09 billion from US$916 million.

Distributable earnings were US$613 million, or US$0.38 per share, up from US$548 million or US$0.34 per share a year earlier. Brookfield’s president, Connor Teskey, said the firm plans to extend partnerships with governments, businesses and institutions as trends such as decarbonization, deglobalization and digitalization continue to accelerate.

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Parkland Corp. reports second-quarter earnings up ahead of Sunoco takeover

Parkland Corp. reported net earnings of US$172 million for the quarter ending June 30, up from US$70 million a year earlier. This equals US$0.97 per diluted share compared with US$0.39 the previous year. On an adjusted basis, Parkland earned US$508 million, slightly higher than US$504 million in the second quarter of 2024.

CEO Bob Espey highlighted the contribution of Parkland’s Burnaby refinery, which delivered above mid-cycle refining margins. He noted that these results illustrate the company’s growth potential as it prepares to merge with Sunoco LP; the takeover is expected to close in the second half of the year.

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Thomson Reuters reports Q2 earnings down from a year ago

Thomson Reuters reported net earnings of US$313 million for the quarter ended June 30, down from US$841 million a year earlier. Diluted earnings per share were US$0.69 versus US$1.86 in the prior-year quarter. Revenue rose modestly to US$1.79 billion from US$1.74 billion.

On an adjusted basis, the company earned US$0.87 per share, a slight improvement over an adjusted US$0.85 per share a year ago. CEO Steve Hasker emphasized the company’s ongoing focus on innovation, including investments in advanced AI technology for legal, tax and accounting services.

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