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MarketScreener Homepage  >  Equities  >  Toronto Stock Exchange  >  Canadian Tire Corporation, Limited    CTC.A   CA1366812024

CANADIAN TIRE CORPORATION, LIMITED

(CTC.A)
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Canadian Tire quarterly profit misses on lower fuel margins

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08/08/2019 | 07:29am EDT

(Reuters) - Department store and online retailer Canadian Tire Corp Ltd reported lower-than-expected quarterly profit on Thursday, hurt mainly by lower margins in its petroleum retail business.

The company said net fuel margins per litre fell in a competitive market, which has also been hit by the implementation of a carbon tax in some regions.

Net income rose to C$203.8 million, or C$2.87 per share, in the second quarter ended June 30 from C$ 174.4 million, or C$2.38 per share, a year earlier.

Excluding items, it earned C$2.97 per share, missing the average analyst estimate of C$3.01, according to Refinitiv IBES.

The Toronto-based company's revenue of C$3.69 billion ($2.78 billion) also missed analysts' estimate of C$3.71 billion.

Canadian Tire has been spending to broaden its retail offerings by including private labels in addition to rolling out options like home delivery and aggressively pushing e-strategies as it looks to compete with global ecommerce giants like Amazon.com and Walmart Inc to win back market share.

Separately, Canadian Tire also said it agreed to buy Party City Holdco Inc Canadian business for C$174.4 million ($131.23 million), a deal that would immediately add to its earnings.

(Reporting by Arunima Kumar in Bengaluru; Editing by Anil D'Silva)


Stocks mentioned in the article
ChangeLast1st jan.
CANADIAN TIRE CORPORATION, LIMITED 3.05% 152.41 Delayed Quote.5.83%
LINE CORPORATION 0.00% 5370 End-of-day quote.0.37%
PARTY CITY HOLDCO INC. -5.60% 2.36 Delayed Quote.0.85%
THE GLOBAL LTD. 7.39% 218 End-of-day quote.-53.72%
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Financials
Sales 2020 14 376 M 10 900 M 10 900 M
Net income 2020 493 M 374 M 374 M
Net Debt 2020 6 074 M 4 605 M 4 605 M
P/E ratio 2020 21,8x
Yield 2020 2,99%
Capitalization 9 468 M 7 194 M 7 178 M
EV / Sales 2020 1,08x
EV / Sales 2021 1,04x
Nbr of Employees 22 439
Free-Float 94,1%
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Technical analysis trends CANADIAN TIRE CORPORATION, LIMITED
Short TermMid-TermLong Term
TrendsBullishBullishNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 12
Average target price 138,83 CAD
Last Close Price 152,41 CAD
Spread / Highest target 10,2%
Spread / Average Target -8,91%
Spread / Lowest Target -35,7%
EPS Revisions
Managers
NameTitle
Greg Hicks President, Chief Executive Officer & Director
Maureen Joanne Sabia Non-Executive Chairman
Gregory Craig Chief Financial Officer & Executive Vice President
Rex William Lee Chief Information Officer & Senior Vice President
Owen G. Billes Non-Independent Director
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