Bullboard - Stock Discussion Forum 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... see more

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Canadian Tire Ord Shs > Earnings out,

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Post by MrDales62 on May 11, 2023 7:44am

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.