TD Bank Group Reports First Quarter 2022 Results FIRST QUARTER FINANCIAL HIGHLIGHTS, compared with the first quarter last year:
- Reported diluted earnings per share were $2.02, compared with $1.77.
- Adjusted diluted earnings per share were $2.08, compared with $1.83.
- Reported net income was $3,733 million, compared with $3,277 million.
- Adjusted net income was $3,833 million, compared with $3,380 million.
FIRST QUARTER ADJUSTMENTS (ITEMS OF NOTE)
The first quarter reported earnings figures included the following items of note:
- Amortization of acquired intangibles of $67 million ($59 million after-tax or 3 cents per share), compared with $74 million ($65 million after-tax or 4 cents per share) in the first quarter last year.
- Acquisition and integration charges related to the Schwab transaction of $50 million ($41 million after-tax or 2 cents per share), compared with $38 million ($38 million after-tax or 2 cents per share) in the first quarter last year.
TORONTO, March 3, 2022 /CNW/ - TD Bank Group ("TD" or the "Bank") today announced its financial results for the first quarter ended January 31, 2022. Reported earnings were $3.7 billion, up 14% compared with the first quarter last year, and adjusted earnings were $3.8 billion, up 13%.
"TD started the year strong, delivering revenue growth across all our business segments as customer activity gained additional momentum," said Bharat Masrani, Group President and CEO, TD Bank Group. "With a focus on growth, we continue to make investments in technology and new capabilities, positioning us well to meet our customers' and clients' evolving needs."
"I am also pleased to have announced our deal with First Horizon earlier this week. A bold acceleration of our U.S. strategy to acquire a premier regional bank, with a strong presence in highly attractive markets across the U.S. Southeast – a terrific strategic fit for TD," added Masrani.