Canadian Tire revenue, profit edges up in Q2

BUSINESS

Canadian Tire revenue, profit edges up in Q2

The Canadian Press Published Thursday, August 13, 2015 9:01AM EDT

Canada's largest Canadian Tire in Edmonton, Alta.

Text:

TORONTO - Canadian Tire Corp. (TSX:CTC.A) says its net income for the second quarter rose to $186.2 million, or $2.15 per diluted share.

That was up from $178.9 million or $2.12 per diluted share in the second quarter of 2014 but below analyst estimates.

The average estimate was $2.20 per share, according to Thomson Reuters.

The company's total revenue was $3.26 billion, up $91.6 million or three per cent from the same time last year and about $7 million above the consensus estimate.

Nearly $3 billion of the total was generated by Canadian Tire's retail segment, which includes Canadian Tire, SportChek and Mark's banners.

Most of the retail segments showed increases from the same time last year but revenue from petroleum sales dropped 13.8 per cent to $463.5 million, from $538.0 million as lower fuel prices outweighed higher volume.