The Toronto-Dominion Bank

TD: XTSE (CAN)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
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Toronto-Dominion Earnings: Provisioning Expense Increased and US Segment Continued to Drag

Maoyuan Chen

May 22, 2025

Toronto-Dominion reported fiscal second-quarter results that were basically in line with our expectations. Adjusted EPS came in at CAD 1.97, down 3% from a year ago. That said, investors should be aware that the trajectory of the Canadian economy still has heightened uncertainty related to tariffs.

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The Toronto-Dominion Bank

Toronto-Dominion Earnings: Provisioning Expense Increased and US Segment Continued to Drag

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