Canadian Western Bank will report its fiscal second-quarter results on Tuesday morning. The good news is that a consensus of analysts expects the Edmonton-based lender will show a profit of 57.3 cents per share.
That's up more than 40 per cent, from 40 cents per share last year, when the company was struggling with rising loan-loss provisions related to low crude oil prices.
Now, though, CWB has another issue that will warrant close attention from investors: Its funding costs – in the form of higher rates paid on guaranteed investment certificates – have risen in the wake of Home Capital Group Inc.'s recent run on deposits. That could weigh on the bank's net interest margins and, ultimately, profit.
Saputo Inc., meanwhile, is projected to report adjusted quarterly earnings on Thursday of 48.4 cents, up 18 per cent from a year earlier, on revenue of $2.85-billion.
And also look for earnings from Canaccord Genuity Group Inc. Analysts project adjusted profit of 12 cents a share in its fourth quarter, with revenues rising 11.5 per cent from a year earlier to $224-million.
All three Canadian stocks have beaten analyst consensus adjusted profit estimates in five of the past eight quarters.
In the United States, it could be a rough trading day for shares of Hewlett Packard Enterprise Co. The company posted disappointing fiscal second-quarter results after the bell Wednesday, with adjusted profits per share of 25 cents and revenues of $7.45-billion well below the 35 cents and $9.73-billion, respectively, that analysts had forecast.