Canadian Tire Corp Ltd

CTC

Equity

ISIN CA1366811034 / Valor 682670

Toronto Stock Exchange (2024-12-24)

CAD 199.00-1.51%

Canadian Tire Corp Ltd
UMushroom community rating:

5.00 1 votes No rating yet

NegativeNeutralPositive

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 recognized and trusted brands. Canadian Tire operates approximately 1,700 retail locations across the country, offering a diverse array of goods including automotive, hardware, sports, leisure, and home products. In addition to its physical stores, the company has a strong e-commerce presence, providing customers with the convenience of online shopping. Canadian Tire also offers financial services to its customers, further expanding its portfolio. The company's leadership team is comprised of experienced professionals from various disciplines, all working towards maintaining Canadian Tire's position as the leading retail brand in Canada.

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

Revenue Decline

Canadian Tire Corp Ltd reported a revenue of $4,132.7 million for the second quarter of 2024, marking a 2.9% decrease compared to $4,255.8 million in the same period last year. Excluding Petroleum, the revenue was $3,581.8 million, a 3.4% decline from the prior year.

Comparable Sales

Consolidated comparable sales for Canadian Tire Corp Ltd in Q2 2024 were down 4.6%. This decline was attributed to challenging consumer demand and adverse weather conditions, which affected sales across all regions except Atlantic Canada.

Income Before Taxes

Canadian Tire Corp Ltd's consolidated income before income taxes for Q2 2024 was $295.8 million, a significant increase from $173.9 million in the prior year. On a normalized basis, the income before taxes was up by $14.0 million compared to the previous year.

Earnings Per Share

For the second quarter of 2024, Canadian Tire Corp Ltd reported diluted earnings per share (EPS) of $3.56. This is a notable increase from $1.76 in the same quarter of the previous year, and $3.08 on a normalized basis.

Dividends

Canadian Tire Corp Ltd declared a quarterly dividend of $1.750 per share for holders of Class A Non-Voting Shares and Common Shares. The dividend is payable on December 1, 2024, to shareholders of record as of October 31, 2024, and is considered an "eligible dividend" for tax purposes.

Summarized from source with an LLMView Source

Key figures

-28.9%1Y

-39.1%3Y

12.0%5Y

Performance

108%1Y

123%3Y

104%5Y

Volatility