Bank of Montreal Stock Tumbles After Earnings—Here's Why
Shares of Bank of Montreal or BMO Financial Group (BMO) plunged over 8% in intraday trading Wednesday after the Canadian financial firm posted worse-than-expected results. The money it set aside to cover bad loans rose from the prior quarter and it also reported that its U.S. business weakened.
Bank of Montreal (BMO) Q2 2024 Earnings Call Transcript
Bank of Montreal (NYSE:BMO ) Q2 2024 Earnings Conference Call May 29, 2024 8:00 AM ET Company Participants Christine Viau - IR Darryl White - CEO Tayfun Tuzun - CFO Piyush Agrawal - Chief Risk Officer Ernie Johannson - Head of BMO North American Personal and Business Banking Nadim Hirji - Head of BMO Commercial Banking Conference Call Participants Ebrahim Poonawala - Bank of America Matthew Lee - Canaccord Doug Young - Desjardins Capital Markets Meny Grauman - Scotiabank John Aiken - Jefferies Gabriel Dechaine - National Bank Financial Lemar Persaud - Cormark Securities Nigel D'Souza - Veritas Investment Research Mario Mendonca - TD Securities Mike Rizvanovic - Keefe, Bruyette, & Woods Darko Mihelic - RBC Capital Markets Paul Holden - CIBC Operator Good morning and welcome to the BMO Financial Group's Q2 2024 Earnings Release and Conference Call for May 29, 2024. Your host for today is Christine Viau.
BMO shares fall as credit loss provisions, weak US business performance hit 2Q profits
Bank of Montreal (CSE:BMO) shares fell almost 8% after the Canadian bank's fiscal second quarter profits failed to meet Street expectations. For the quarter ended April 30, the company's adjusted net income fell to C$2.03 billion from $2.19 billion in the year-ago period.
Bank of Montreal (BMO) Misses Q2 Earnings and Revenue Estimates
Bank of Montreal (BMO) came out with quarterly earnings of $1.91 per share, missing the Zacks Consensus Estimate of $2.01 per share. This compares to earnings of $2.16 per share a year ago.
Analysts Estimate Bank of Montreal (BMO) to Report a Decline in Earnings: What to Look Out for
Bank of Montreal (BMO) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.
