Canadian Western Bank (CWB.TO) revealed a profit for third quarter that decreased from last year and missed the Street estimates.
The company's earnings came in at C$41.407 million, or C$0.43 per share. This compares with C$83.068 million, or C$0.86 per share, in last year's third quarter.
Excluding items, Canadian Western Bank reported adjusted earnings of C$58 million or C$0.60 per share for the period.
Analysts on average had expected the company to earn C$0.85 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.
The company's revenue for the quarter rose 5.3% to C$298.469 million from C$283.506 million last year.
Canadian Western Bank earnings at a glance (GAAP) :
-Earnings (Q3): C$41.407 Mln. vs. C$83.068 Mln. last year.
-EPS (Q3): C$0.43 vs. C$0.86 last year.
-Revenue (Q3): C$298.469 Mln vs. C$283.506 Mln last year.
-Guidance:
Next quarter EPS guidance: C$0.86 to C$0.91
Full year EPS guidance: C$3.20 to C$3.25
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