BMO Financial Group (BMO) Tops Q1 EPS by 48c, Beats on Revenues

Note: EPS may not be comparable

BMO Financial Group (NYSE: BMO) reported Q1 EPS of $2.12, $0.48 better than the analyst estimate of $1.64. Revenue for the quarter came in at $5.32 billion versus the consensus estimate of $4.46 billion.

First Quarter 2018 Compared with First Quarter 2017:

• Net income of $973 million, down 35% reflecting a revaluation of the U.S. net deferred tax asset of $425 million related to U.S. tax reform and a net gain in the prior year
• Adjusted net income1 of $1,422 million, down 7% reflecting the net gain in the prior year
• EPS2 of $1.43, down 36%; adjusted EPS1,2 of $2.12, down 7%
• Good operating performance in retail businesses
• Provisions for credit losses (PCL) of $141 million, including a $33 million recovery of credit losses on performing loans3, compared with $167 million in the prior year
• Common Equity Tier 1 Ratio of 11.1%

For earnings history and earnings-related data on BMO Financial Group (BMO) click here.

You May Also Be Interested In

• Korn Ferry (KFY) Tops Q4 EPS by 2c, Beats on Revenue; Offers Q1 Guidance
• RBC initiates GE HealthCare as it sees AI-led innovation cycle driving growth
• Deutsche Bank Starts Tandem Diabetes Care (TNDM) at Hold