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Toronto-Dominion Bank Second Quarter 2024 Earnings: Revenues Beat Expectations, EPS Lags

Toronto-Dominion Bank (TSE:TD) Second Quarter 2024 Results

Key Financial Results

  • Revenue: CA$12.7b (up 8.3% from 2Q 2023).

  • Net income: CA$2.37b (down 24% from 2Q 2023).

  • Profit margin: 19% (down from 27% in 2Q 2023). The decrease in margin was driven by higher expenses.

  • EPS: CA$1.34 (down from CA$1.72 in 2Q 2023).

earnings-and-revenue-growth
earnings-and-revenue-growth

All figures shown in the chart above are for the trailing 12 month (TTM) period

Toronto-Dominion Bank Revenues Beat Expectations, EPS Falls Short

Revenue exceeded analyst estimates by 12%. Earnings per share (EPS) missed analyst estimates by 13%.

Looking ahead, revenue is forecast to grow 3.1% p.a. on average during the next 3 years, compared to a 5.0% growth forecast for the Banks industry in Canada.

Performance of the Canadian Banks industry.

The company's share price is broadly unchanged from a week ago.

Balance Sheet Analysis

Just as investors must consider earnings, it is also important to take into account the strength of a company's balance sheet. We have a graphic representation of Toronto-Dominion Bank's balance sheet and an in-depth analysis of the company's financial position.

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.