Bank of Montreal

BMO: XTSE (CAN)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	CAD 399.00	Bftpz	Yycbxtdrn

Bank of Montreal Earnings: Weak First-Quarter Results From Higher Provisioning

Michael Miller ,

Feb 27, 2024

Narrow-moat Bank of Montreal reported disappointing fiscal first-quarter earnings. Adjusted net income was CAD 1.9 billion, falling 12% from last year and down 16% from last quarter. Adjusted earnings per share were CAD 2.81, a decrease of 16% year over year and 13% sequentially. The decrease in earnings was primarily driven by credit provisioning and weak capital markets revenue.

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