Canadian Tire Ord Shs CDNAF

Primary Symbol: T.CTC Alternate Symbol(s): T.CTC.A | CDNTF

Canadian Tire Corporation, Limited is a Canada-based retail goods and services provider. It operates through three segments: Retail, Financial Services, and CT REIT. The Retail segment is conducted under a number of banners, including Canadian Tire, Canadian Tire Gas+ (Petroleum), Mark’s, PartSource, Helly Hansen, Party City in Canada, and various SportChek banners. The Financial Services segment issues Canadian Tire's Triangle brand credit cards, including Triangle Mastercard and Triangle World Elite Mastercard. Financial Services also offers Cash Advantage Mastercard and Gas Advantage Mastercard products, markets insurance products, and provides settlement services to the Company’s affiliates. The CT REIT segment is a closed-end real estate investment trust. CT REIT holds a geographically diversified portfolio of properties in Canada, mainly comprising Canadian Tire banner stores, Canadian Tire anchored retail developments, mixed-use commercial property, and industrial properties.

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Canadian Tire Ord Shs

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Post by MrDales62on May 11, 2023 7:44am

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Post# 35442596

Earnings out,

OUCH!!!

Revenue was $3,707.2 million compared to $3,837.4 million in the same period last year; excluding the change in accounting estimate2, Revenue (excluding Petroleum)1 decreased 4.9%. Financial Services segment revenue growth partially offset the Retail segment decline, mainly due to the anticipated lower revenue at Canadian Tire Retail.
Consolidated income before income taxes was $66.6 million, a decrease of $228.3 million compared to the prior year, due in part to costs of $67.7 million relating to the distribution centre fire. Normalized income before income taxes was $134.3 million.
Diluted EPS was $0.13 compared to $3.03 in the prior year; Normalized diluted EPS was $1.00, down $2.06, or down $2.72 excluding the $0.66 favourable impact of the change in accounting estimate2, mainly attributable to a decline in earnings in the Retail segment.