The Daily Chase: TSX earnings bonanza; Toronto home sales plummet
BNN Bloomberg
Once every quarter, Corporate Canada throws a wild assortment of quarterly reports at us. This feels like that day for Q2.
Canadian Natural Resources is rolling in dough, and it’s sharing that wealth with investors. The titan of the oil patch announced it will pay a special dividend of $1.50 per share later this month. That news came alongside second-quarter results showing cash flow doubled to almost $5.9 billion.
Who’d have thought years ago, back when there were fears for its future, that we’d be talking about Bombardier crushing cash flow estimates. The private-jet maker this morning hiked its full-year free cash flow forecast to more than US$515M from the earlier call for “greater than” US$50 million. It also reported an unexpected jump in second-quarter cash flow. President and CEO Éric Martel joins us shortly after 1 p.m. ET.
BCE beat second-quarter profit expectations and reaffirmed its full-year outlook today. One nugget that stood out to me in the results: record-low churn for postpaid wireless subscribers (0.75 per cent). Given Rogers’ network mishap last month, churn could shape up to be the most compelling metric among the big wireless companies in the coming quarters. BCE, of course, owns BNN Bloomberg through its Bell Media division. President and CEO Mirko Bibic joins us at 3 p.m. ET.
