Stock news for investors: Quarterly profits up at Shopify, Brookfield; down at Suncor, Reuters

The Ottawa-based e-commerce software company’s net earnings for the second quarter compared with a US$171 million profit it posted a year ago.

The firm, which keeps its books in U.S. dollars, says the profit amounted to 69 cents US per diluted share attributable to shareholders compared with a loss of 13 cents US per diluted share a year earlier.

Shopify says its net income excluding the impact of its equity investments for the quarter ended June 30 amounted to US$338 million, up from US$291 million a year ago.

Revenue totalled US$2.68 billion for the quarter, up from US$2.04 billion in the same quarter last year. 

Subscription solutions revenue reached US$656 million, up from US$563 million a year ago, while merchant solutions revenue was US$2.02 billion, up from US$1.48 billion.

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Suncor reports $1.13 billion Q2 net income, revises down spending estimate

Suncor Energy Inc. says its second-quarter earnings were down from last year, largely on lower oil prices, as it also revised down its expected capital spending for the year. The oilsands producer says it had a net income of $1.13 billion for the quarter ending June 30, down from $1.57 billion in the same quarter last year. The lower profit came despite record second-quarter production and refinery throughput after completing major maintenance work.

Suncor says adjusted operating earnings worked out to $873 million, down from $1.63 billion in the same quarter last year. Adjusted earnings were 71 cents per share, down from $1.27 last year, while the mean analyst estimate was for 69 cents per share, according to LSEG Data & Analytics.

The company says it has reduced its expected capital spending for the year by $400 million to between $5.7 billion and $5.9 billion.

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Brookfield Asset Management reports second-quarter profit up from year ago

Brookfield Asset Management Ltd. reported its second-quarter profit rose compared with a year ago.

The alternative asset manager, which keeps its books in U.S. dollars, says net income for the period ending June 30 totalled US$620 million, an increase from US$495 million in the second quarter of 2024.

The earnings amounted to 38 cents US per diluted share, compared with 31 cents US per diluted share a year ago.

Its revenue for the quarter totalled US$1.09 billion, up from $916 million from the same period last year.

Its distributable earnings for the quarter amounted to US$613 million or 38 cents US per share, compared with US$548 million or 34 cents US per share a year earlier.

Brookfield Asset Management president Connor Teskey says the company will extend its partnerships with governments, businesses and institutions as trends including decarbonization, deglobalization and digitalization continue to accelerate.

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Parkland Corp. reports second-quarter earnings up ahead of Sunoco takeover

Parkland Corp. says its second-quarter net earnings were up as the fuel refiner prepares for a takeover by U.S. company Sunoco LP. The Calgary-based company says net earnings for the period ending June 30 were $172 million, up from $70 million a year ago. Parkland says net earnings amounted to 97 cents per diluted share compared with 39 cents per diluted share a year earlier.

On an adjusted basis, the company says it earned $508 million, an increase from $504 million in the second quarter of 2024.

Chief executive Bob Espey says the firm’s Burnaby refinery helped deliver above mid-cycle refining margins, which reflect Parkland’s potential to grow as it merges with Sunoco. The takeover is expected to be completed during the second half of this year.

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Thomson Reuters reports Q2 earnings down from a year ago

Thomson Reuters says its second-quarter net earnings were down from a year ago. The company, which keeps its books in U.S. dollars, reported second-quarter net earnings of US$313 million, down from US$841 million a year ago. 

Its earnings for the quarter ended June 30 amounted to 69 cents US per diluted share compared with US$1.86 per diluted share a year earlier. Revenue for the quarter totalled US$1.79 billion, up from US$1.74 billion a year ago.

On an adjusted basis, Thomson Reuters says it earned 87 cents US per share in its latest quarter, up from an adjusted profit of 85 cents US per share a year ago.

Chief executive Steve Hasker says the company remains focused on innovation and investing in advanced agentic AI technology for its legal, tax and accounting services. 

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