Overview
Canada bank's Q1 revenue rose 15%, beating analyst expectations
Adjusted EPS for Q1 beat analyst expectations
Adjusted net income for Q1 beat analyst expectations
Outlook
Company did not provide specific guidance for future quarters or full year
Result Drivers
CANADIAN PERSONAL AND BUSINESS BANKING - Higher net interest margin and loan growth drove revenue increase, partially offset by higher expenses
CANADIAN COMMERCIAL BANKING AND WEALTH MANAGEMENT - Revenue rose due to volume growth and higher net interest margin, offset by higher expenses
CAPITAL MARKETS - Higher trading and underwriting revenue contributed to growth, despite increased expenses
Company press release: ID:nCNW3ZltKa
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q1 Revenue | Beat | C$8.40 bln | C$7.69 bln (10 Analysts) |
Q1 Adjusted EPS | Beat | C$2.76 | C$2.40 (13 Analysts) |
Q1 EPS | C$3.21 | ||
Q1 Adjusted Net Income | Beat | C$2.69 bln | C$2.23 bln (11 Analysts) |
Q1 Net Income | C$3.10 bln | ||
Q1 Adjusted ROE | 17.40% | ||
Q1 CET1 Capital Ratio | 13.40% | ||
Q1 Provision for Credit Losses | C$568 mln |
Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 9 "strong buy" or "buy", 7 "hold" and no "sell" or "strong sell"
The average consensus recommendation for the banks peer group is "buy"
Wall Street's median 12-month price target for Canadian Imperial Bank of Commerce is C$136.00, about 1.3% below its February 25 closing price of C$137.85
The stock recently traded at 14 times the next 12-month earnings vs. a P/E of 13 three months ago
For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.
(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)
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