Earnings call transcript: BMO tops Q3 2026 estimates as profit rises 22%
BMO Financial Group reported stronger-than-expected Q3 2026 results, with adjusted earnings per share (EPS) of CAD 3.96, beating analyst expectations of CAD 3.74 by 5.88%. Revenue for the quarter also exceeded forecasts at CAD 9.96 billion, rising 11% from the previous year. Adjusted net income climbed 22% to CAD 2.9 billion, while return on equity reached 14%, nearing the bank's 15% target.
Every business segment contributed to record pre-provision, pre-tax earnings, with a CET1 capital ratio of 13.0%, unchanged from the prior quarter. Management noted progress toward a 15% ROE by the end of fiscal 2027. Revenue growth stemmed from higher net interest income and non-interest revenue, with the latter increasing 15% year-over-year.
Despite the positive outlook, BMO shares declined slightly in pre-market trading due to a CAD 973 million goodwill charge tied to planned divestitures.
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