Laurentian Bank of Canada (LB.TO) reported a net loss of C$117.5 million and a loss per share of C$2.71 for the second quarter of 2024, compared with net income of C$49.3 million and profit per share of C$1.11, prior year. Adjusted net income was C$40.5 million and adjusted profit per share were C$0.90, compared with C$51.7 million and C$1.16. On average, 11 analysts polled by Thomson Reuters expected the company to report profit per share of C$0.88, for the quarter. Analysts' estimates typically exclude special items.
Total revenue was C$252.6 million for the second quarter of 2024, compared with C$257.2 million, previous year. Net interest income decreased to C$179.6 million, compared with C$184.2 million, last year. The company said the decrease was mainly due to lower net interest income from lower loan volumes. Analysts on average had estimated C$250.76 million in revenue.
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