Surging energy prices boost Canadian corporate profits, with oil and coal leading a 121% increase; strong performance hides underlying risks

智通财经2026/08/24 13:36

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(1) The latest data from Statistics Canada shows that in the second quarter, the total operating profit of enterprises nationwide reached approximately CAD 228.2 billion, an increase of nearly 10% compared to the previous quarter and a year-on-year rise of 15%. (2) Non-financial enterprises performed exceptionally well, with the oil and natural gas sector seeing operating profits surge by about 68%, becoming the core driving force behind overall profitability. (3) Profits of oil and coal manufacturers soared by about 121%, marking the highest level since the first quarter of 2020, while pipeline transport companies' profits simultaneously increased by approximately 31%. (4) Overall profits in the manufacturing sector grew by about 31%, totaling CAD 28.2 billion. However, excluding the oil and coal segments, the growth rate in other manufacturing industries slowed significantly to around 4%, highlighting the highly concentrated contribution of energy-related sectors to the overall data. (5) The operating profit of the financial sector grew by 5%, recording a total of CAD 101.6 billion, displaying relatively steady performance but falling far short of the explosive growth seen in the energy sector. (6) Against the backdrop of ongoing global political tensions and supply disruptions, rising energy prices have become the main driver behind this round of corporate earnings exceeding expectations, giving a short-term boost to market sentiment. (7) Trump’s tariff comments have triggered concerns about deteriorating trade conditions in the market, and the potential cost transmission pressure from persistently high energy prices adds further complexity. Moving forward, attention should be paid to inflation trends and the impact of major central bank policy expectations on the sustainability of Canadian corporate profitability.

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October 7 - Shares of food and animal safety solutions company Neogen (NEOG.O) rose 11.5% in pre-market trading to $13.30. The company reported (link) adjusted earnings per share of 8 cents for the first quarter, outperforming analysts' expectations of a 7-cent loss per share, according to data compiled by LSEG. The profit growth was attributed to increased EBITDA and lower interest and income tax expenses. The company expects fiscal 2027 revenues to be between $885 million and $890 million, above the expected $883.2 million. Of five brokerages, three rated the stock as “Buy” or higher, and two as “Hold”, with a median target price of $14. As of the previous trading day's close, the stock has risen 71.1% so far this year. (For the convenience of non-English speakers, Reuters automatically translates its reports into several other languages. Since automated translations may be incorrect or lack required context, Reuters does not guarantee the accuracy of such translations, which are provided for reader convenience only. Reuters accepts no liability for any harm or loss arising from use of automated translation.)

路透社•2026/10/07 10:51

Citi has added TSMC to its 90-day upside catalyst watch list

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智通财经•2026/10/07 10:45

Analyst: Gold falls back to the $4,100 to $4,200 range, $4,000 remains an important price level

Phillip Nova analyst Priyanka Sachdeva stated in a report that despite the recent correction in gold prices, the structural drivers supporting gold have not disappeared. This week, spot gold has retreated to the $4,100–4,200 per ounce range. Sachdeva noted that although gold prices have adjusted recently, geopolitical uncertainty and continued vulnerability in Middle Eastern oil supplies are maintaining investor interest in gold. She believes that $4,000 per ounce remains a key level. If the long-term structural logic for gold remains intact, any further move of gold prices towards this level may attract conviction-driven investors to adopt a phased buying approach. She added that the future trend of gold will depend more on how geopolitical risks affect oil prices, inflation expectations, and U.S. Treasury yields.

智通财经•2026/10/07 10:41