TD's Q3 2024 Report: $3.57B set aside for U.S. fines leading to negative income for this quarter!
Key Highlights:
- Adjusted earnings: $2.05/share vs. $2.07 expected, as wealth management underperformed.
- TD branches: More U.S. branches (1,150) compared to Canada (1,060).
- Net quarterly income: -$181M, compared to $2.88B in Q3 2023.
- Biggest hit: $3.56B set aside for a potential U.S. government fine related to money laundering, on top of $615M provisioned last quarter, suggesting a possible $4B+ fine.
- Net loan write-offs: $788M (+53%⬆️Yearly & -12%⬇️Quarterly)
- PCL (Provision for Credit Losses): $1.1B (+40%⬆️Yearly, the highest since Q3 2020)
Other Info for $TD (as of Aug 21, 2024):
- Dividend yield: 5%
- P/E: 13.6
- Market Cap: $143B
- Share price support: Supported by significant buybacks after the collapse of the First Horizon deal, which released a substantial amount of capital.
Follow us on social media for more posts
Disclaimer:
- Any analysis or commentary reflects the opinions of WOWA.ca analysts and should not be considered financial advice. Please consult a licensed professional before making any decisions.
- The calculators and content on this page are for general information only. WOWA does not guarantee the accuracy and is not responsible for any consequences of using the calculator.
- Financial institutions and brokerages may compensate us for connecting customers to them through payments for advertisements, clicks, and leads.
- Interest rates are sourced from financial institutions' websites or provided to us directly. Real estate data is sourced from the Canadian Real Estate Association (CREA) and regional boards' websites and documents.