Bank Of Montreal Reports Q3 Earnings Beat
Bank of Montreal (NYSE: BMO) reported third-quarter earnings of $1.80 per share, which beat the analyst consensus estimate of $1.67 by 8.32%. This is a 0.6% decrease over earnings of $1.82 per share from the same period last year.
The company reported quarterly sales of $5.066 billion, which beat the analyst consensus estimate of $4.21 billion by 20.33%. This is a 18.53% increase over sales of $4.274 billion the same period last year.
"BMO continued to deliver strong operating results this quarter demonstrating the resilience of our diversified North American platform, with adjusted earnings per share of $2.38, good revenue growth of 5% and positive operating leverage,” said CEO Darryl White. “Our Canadian and U.S. Personal and Commercial banking businesses together delivered 9% growth in pre-provision pre-tax profit contribution with good balance momentum... While provisions for credit losses increased this quarter from very low levels, overall credit quality remains strong."
Bank of Montreal shares were trading down 4.77% at $66.51 in Tuesday’s session. The stock has a 52-week high of $84.36 and a 52-week low of $62.79.
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