Canadian Tire Corp Ltd

CTC.A

Equity

ISIN CA1366812024 / Valor 682672

Toronto Stock Exchange (2024-12-24)

CAD 152.11-0.87%

Canadian Tire Corp Ltd
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About company

Canadian Tire Corp Ltd is a prominent retail company based in Canada, known for its extensive range of products and services tailored to the Canadian lifestyle. With a history spanning over a century, the company has grown to become one of Canada's most recognizable and trusted brands. Canadian Tire operates approximately 1,700 retail locations across the country, offering a diverse product lineup that includes automotive, hardware, sports, leisure, and home products. In addition to its physical stores, the company has a strong e-commerce presence, providing customers with an accessible and convenient shopping experience. Canadian Tire Corporation also offers financial services and operates under various banners, including Canadian Tire Retail, SportChek, Mark's, and PartSource, among others. The company's leadership team is focused on maintaining its position as the leading retail brand in Canada, emphasizing customer service, innovation, and operational excellence.

Summarized from source with an LLMView SourceSector: Non-Energy Materials

Revenue Overview

In the third quarter of 2024, Canadian Tire Corp Ltd reported a revenue of $4,192.9 million, which represents a decrease of 1.4% compared to the same period last year. Excluding Petroleum, the revenue was $3,639.8 million, marking a slight decrease of 0.4% from the previous year.

Earnings Per Share

Canadian Tire Corp Ltd's diluted earnings per share (EPS) for Q3 2024 was $3.59, a significant improvement from $(1.19) in Q3 2023. On a normalized basis, the EPS increased by 21.3% from $2.96 in the previous year.

Retail Segment Performance

The retail segment of Canadian Tire Corp Ltd saw a decline in sales, with retail sales down 2.2% to $4,539.5 million in Q3 2024 compared to the same quarter in 2023. Excluding Petroleum, retail sales decreased by 1.4%, and consolidated comparable sales were down 1.5%.

Dividend Increase

Canadian Tire Corp Ltd announced an increase in its annual dividend for the 15th consecutive year, raising it to $7.10 per share. This represents an increase of approximately 1.4% over the previous year. The quarterly dividend declared was $1.775 per share, payable on March 1, 2025.

Financial Services Segment

The Financial Services segment reported an income before income taxes of $110.3 million in Q3 2024, a decrease of $15.4 million from the prior year. This decline was due to higher net write-offs and operating expenses, which were only partially offset by increased revenues.

Summarized from source with an LLMView Source

Key figures

8.67%1Y

-15.9%3Y

7.83%5Y

Performance

20.0%1Y

22.8%3Y

31.1%5Y

Volatility