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Yahoo
28-05-2025
- Business
- Yahoo
Bank of Nova Scotia Q2 Earnings Fall on Higher Provisions & Expenses
The Bank of Nova Scotia's BNS second-quarter fiscal 2025 (ended April 30) adjusted net income was C$2.07 billion ($1.5 billion), which declined 1.6% year over year.A rise in expenses and provisions for credit losses hurt the results. Lower loan balances also acted as a dampener. Nevertheless, results benefited from higher revenues and solid capital considering non-recurring items, net income was C$2.03 billion ($1.48 billion), down 2.9% from the prior-year quarter. Total revenues were C$9.08 billion ($6.59 billion), up 8.8% year over interest income was C$5.27 billion ($3.83 billion), which increased 12.3%. Likewise, non-interest income grew 4.3% to C$3.81 billion ($2.77 billion).Non-interest expenses were C$5.11 billion ($3.71 billion), up 8.5% on a year-over-year basis. Provision for credit losses jumped 38.8% to C$1.4 billion ($1.02 billion). The rise reflects a deteriorating economic outlook. As of April 30, 2025, Bank of Nova Scotia's total assets were C$1.42 trillion ($1.03 trillion), down 1.6% on a sequential basis. Deposits were C$945.8 billion ($686.9 billion), which declined 2.1% from the previous loans were C$756.4 billion ($549.4 billion), down 1.3%. As of April 30, 2025, the Common Equity Tier 1 ratio was 13.2, which was stable with the prior-year quarter. Further, the total capital ratio was 17.1, which was stable with the prior-year return on equity was 10.4%, down from 11.3% in the year-earlier quarter. A diversified product mix and strong capital position are expected to continue supporting Bank of Nova Scotia. However, concerns related to macroeconomic conditions and rising expenses make us apprehensive. Bank of Nova Scotia (The) price-consensus-eps-surprise-chart | Bank of Nova Scotia (The) Quote BNS currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here. Toronto-Dominion Bank TD reported second-quarter fiscal 2025 (ended April 30) adjusted net income of C$3.6 billion ($2.63 billion), which declined 4.3% from the prior-year quarter. (Find the latest EPS estimates and surprises on Zacks Earnings Calendar.)TD's results were affected by higher provisions for credit losses and expenses. Also, lower loan balances were another negative. Nonetheless, growth in NII and non-interest income was Bank of Canada's RY second-quarter fiscal 2025 (ended April 30) numbers are scheduled to be announced on May the past seven days, the Zacks Consensus Estimate for RY's quarterly earnings has been revised marginally downward to $2.25 per share. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Toronto Dominion Bank (The) (TD) : Free Stock Analysis Report Royal Bank Of Canada (RY) : Free Stock Analysis Report Bank of Nova Scotia (The) (BNS) : Free Stock Analysis Report This article originally published on Zacks Investment Research ( Zacks Investment Research
Yahoo
23-05-2025
- Business
- Yahoo
Titan Machinery Earnings Beat Estimates in Q1, Revenues Fall Y/Y
Titan Machinery Inc. TITN incurred a loss of 58 cents in first-quarter fiscal 2026 (ended April 30, 2025), which was narrower than the Zacks Consensus Estimate of a loss of 79 cents. The company posted earnings of 41 cents per share in the year-ago quarter. Total revenues were $594 million, down 5.5% from the year-ago quarter. The top line, however, surpassed the consensus mark of $463 million. (Find the latest EPS estimates and surprises on Zacks Earnings Calendar.)Equipment revenues fell 6.7% year over year to $437 million and parts revenues were down 2.4% to $106 million. Revenues generated from service were $44 million, down 2.4% from the year-ago quarter. Meanwhile, rental revenues were $7.9 million compared with $7.3 million in the year-ago quarter. Titan Machinery Inc. price-consensus-eps-surprise-chart | Titan Machinery Inc. Quote The cost of sales edged down 0.7% year over year to $503 million. Gross profit fell 25.4% year over year to $91 million. The gross margin was 15.3% compared with 19.4% in the year-ago quarter. Margins were down due to lower equipment margins, driven by high levels of inventory and weak expenses decreased 2.8% from the year-ago quarter to $96 million. Loss from operations was $5.7 million against the prior year's income of $22.6 million in the year-ago EBITDA was a negative $3.9 million against the prior year's adjusted EBITDA of $24 million. Agriculture revenues fell 14.1% from the last-year comparable quarter to $384 million. The downside was led by a decline in net farm income and a same-store sales decrease of 14.1%. The segment's loss before taxes was $13 million against income of $13 million in the year-ago revenues were $72 million, up 0.9% from the prior-year comparable quarter, driven by a same-store sales increase of 0.9%. The segment incurred a loss before taxes of $4 million against the year-ago quarter's income of $0.27 revenues were $94 million, up 44.2% from the year-ago quarter's $74 million. The segment reported income before taxes of $4.7 million, up from $1.4 million in the first quarter of fiscal Australia segment reported revenues of $44 million, down 1% year over year. It incurred a loss before taxes of $0.5 million in the first quarter of fiscal 2026, down 15.4% year over year. The cash outflow for operating activities was $6 million against an inflow of $32 million in the first quarter of fiscal 2025. Titan Machinery ended the fiscal first quarter with a cash balance of $21.5 million compared with $36 million at the end of fiscal 2025. The company's long-term debt was $154 million compared with $158 million as of the end of fiscal 2025. The agriculture segment's revenues are predicted to decline 20-25% in fiscal 2026. The Construction segment's revenues are expected to see a decline of 5-10%. Europe's revenues are expected to rise 23-28% compared with fiscal 2025. The Australia segment's revenues are expected to decline 20-25%.The company expects to report a loss of $1.25-$2.00 per share in fiscal 2026, reflecting weak demand. In the past year, shares of Titan Machinery have gained 7.9% compared with the industry's 11.6% increase. Image Source: Zacks Investment Research TITN currently has a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here. Deere & Company DE reported second-quarter fiscal 2025 (ended April 27) earnings of $6.64 per share, beating the Zacks Consensus Estimate of $5.68. The bottom line decreased 22% from the prior-year quarter on lower shipment sales of equipment operations (comprising Agriculture, and Turf, Construction and Forestry) were $11.17 billion, down 17.9% year over year. However, net sales topped the Zacks Consensus Estimate of $10.65 billion. Total net sales (including financial services and others) were $12.76 billion, down 16% year over Corp. AGCO delivered adjusted earnings per share of 41 cents in first-quarter 2025 compared with the prior-year quarter's $2.32. The reported figure topped the Zacks Consensus Estimate of 3 cents. AGCO's net sales decreased 30% year over year to $2.05 billion in the March-end quarter. The top line beat the Zacks Consensus Estimate of $2.02 billion. Excluding the unfavorable currency-translation impacts of 2.4%, net sales fell 27.6% year over Industrial N.V. CNH reported first-quarter 2025 adjusted earnings per share of 10 cents, which declined from 33 cents in the prior-year quarter. The figure, however, surpassed the Zacks Consensus Estimate of earnings of 9 the first quarter, CNH Industrial's net sales declined nearly 21% from the year-ago level to $3.82 billion but topped the Zacks Consensus Estimate of $3.79 billion. The company's net sales from industrial activities were $3.17 billion, down 23% due to lower shipment volumes. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Deere & Company (DE) : Free Stock Analysis Report AGCO Corporation (AGCO) : Free Stock Analysis Report CNH Industrial N.V. (CNH) : Free Stock Analysis Report Titan Machinery Inc. (TITN) : Free Stock Analysis Report This article originally published on Zacks Investment Research ( Zacks Investment Research Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
