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Canadian companies post mixed updates, with earnings gains at RBI and Parkland, losses at Algoma and Corus, and major announcements from Cameco and Wealthsimple.
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Numbers for its third quarter of 2025.
Restaurant Brands International Inc. says its third-quarter profit rose compared with a year ago helped by strength in its Tim Hortons and international operations.
The company, which keeps its books in U.S. dollars, says its net income attributable to common shareholders amounted to US$315 million or 96 cents US per diluted share for the quarter ended Sept. 30. The result compared with a profit of US$252 million or 79 cents US in the same quarter last year.
Revenue for the quarter totalled US$2.45 billion, up from US$2.29 billion a year ago.
On an adjusted basis, RBI says it earned US$1.03 per diluted share in its latest quarter, up from 93 cents US per diluted share in the same quarter last year.
In addition to Tim Hortons, RBI is the company behind the Burger King, Popeyes, and Firehouse Subs brands.
Numbers for its third quarter of 2025.
Parkland Corp. reported a third-quarter profit of $129 million, up from $91 million a year ago, as it prepared to complete its deal to be acquired by U.S. company Sunoco. The Calgary-based company says its profit amounted to 73 cents per diluted share for the quarter ended Sept. 30, up from 52 cents per diluted share a year earlier.
On an adjusted basis, Parkland says it earned $1.02 per diluted share in its latest quarter compared with an adjusted profit of 60 cents per diluted share in the same quarter last year.
Sales and operating revenue totalled $7.35 billion, up from $7.13 billion a year earlier.
Parkland owns the Ultramar, Chevron and Pioneer gas station chains as well as several other brands in 26 countries. It also runs a refinery in Burnaby, B.C., which supplies nearly one-third of the region’s domestically supplied gasoline and jet fuel.
The company says it expects to close its deal with Sunoco on Friday, subject to the satisfaction or waiver of customary closing conditions.
Wealthsimple Inc. says it is raising up to $750 million in capital in an effort to accelerate its growth. The equity raise will bring its valuation to $10 billion upon completion.
The equity round includes a $550 million primary offering and secondary offering of up to $200 million and is co-led by U.S.-based Dragoneer Investment Group and Singaporean sovereign wealth fund GIC.
Wealthsimple says the round will also include the Canada Pension Plan Investment Board, a new investor, along with existing investors Power Corporation of Canada, IGM Financial Inc. and others. Wealthsimple CEO Michael Katchen says in a press release that it was intentional in choosing partners committed to its long-term future.
Last week, Wealthsimple announced its assets under administration reached $100 billion, roughly doubling from a year ago.
Shares of Cameco Corp. (TSX:CCO) rose more than 20 per cent after the company and Brookfield Asset Management Ltd. (TSX:BAM) announced a partnership agreement with the U.S. government to help build nuclear reactors in the United States.
Under the deal, the U.S. government will arrange financing and facilitate the permitting and approvals for at least US$80 billion worth of new Westinghouse nuclear reactors in the U.S. Brookfield and Cameco acquired Westinghouse in November 2023.
“We expect that the new build commitments from the U.S. will bolster broader confidence in the durable growth profile for nuclear power, and support increased demand for Westinghouse’s and Cameco’s products, services and technologies,” Cameco chief executive Tim Gitzel said in a statement. “This new partnership highlights the role that Westinghouse’s reactor technologies, based on fully designed, licensed and operating reactors, are expected to play in the planned expansion of nuclear capacity and diversification of global nuclear supply chains.”
Cameco shares were up C$25.36 at C$146.62 in trading on the Toronto Stock Exchange, while Brookfield Asset Management class A shares gained C$1.50 at C$77.91.
U.S. Commerce Secretary Howard Lutnick said the government is focused on ensuring the rapid development, deployment, and use of advanced nuclear technologies. “This historic partnership supports our national security objectives and enhances our critical infrastructure,” he said in a statement.
The partnership agreement will see the U.S. government receive a participation interest, which, once vested, will entitle it to 20 per cent of any cash distributions in excess of US$17.5 billion made by Westinghouse after its granting.
For the participation interest to vest, the U.S. government must make a final investment decision and enter into definitive agreements to complete the construction of at least US$80 billion in new Westinghouse nuclear reactors in the U.S.
The U.S. government will also be entitled under certain circumstances to convert the participation interest into a warrant to buy shares in an initial public offering by Westinghouse equivalent to 20 per cent of the public value of the company at the time after deducting US$17.5 billion.
Numbers for its third quarter of 2025.
Algoma Steel Group Inc. announced that its CEO Michael Garcia will retire from the company at the end of the year as it reported its earnings for the third quarter. The company said Garcia will be succeeded by its current chief financial officer Rajat Marwah, effective on Jan. 1. Algoma said in a press release that Garcia had informed the board of directors late last year that he was considering retirement. Garcia was appointed as the CEO in June of 2022 and has more recently been leading the business through uncertainty as it has been hit hard by U.S. tariffs.
The announcement came as the company reported a net loss of $485.1 million during the third quarter, compared with a net loss of $106.6 million during the same period a year earlier. The loss amounted to $4.46 per share, widening from a loss of 98 cents per share during the same period last year.
The Sault Ste. Marie-based steel producer says it earned consolidated revenues of $523.9 million during the three months ended Sept. 30, down from $600.3 million a year earlier.
The company says its direct tariff expense amounted to $89.7 million during the third quarter, a cost it did not incur last year.
Algoma says its steel shipments amounted to 419,173 tons during the quarter, down from 520,443 a year earlier.
Marwah said in a press release that the $500 million in liquidity support announced by the federal and Ontario governments will provide the company with long-term financial flexibility.
Numbers for its fourth quarter of 2025.
Corus Entertainment Inc. reported a loss of $277.1 million attributable to shareholders in its latest quarter as it took a $263.6-million non-cash impairment charge and saw its revenue fall 14 per cent. The radio and television broadcaster says the loss amounted to $1.39 per diluted share for the quarter ended Aug. 31 compared with a loss of $25.7 million or 13 cents per diluted share in the same quarter last year.
On an adjusted basis, Corus says it lost 36 cents per share in its latest quarter compared with a loss of two cents per share a year earlier.
Revenue for what was the company’s fourth quarter totalled $232.1 million, down from $269.4 million a year earlier.
Corus also said that it has reached an agreement to amend its credit facility to increase the maximum amount the company may request as an advance on a “revolving” basis to $125 million from $75 million.
Corus owns specialty television services, radio stations, and conventional television stations, as well as digital and streaming platforms.
Numbers for its third quarter of 2025.
Spin Master Corp. reported its third-quarter profit and revenue fell compared with a year ago as it said it faced an uncertain economic environment and a shift in retailer buying behaviour driven by the impact of tariffs.
The toy company, which keeps its books in U.S. dollars, said it earned $106.8 million or US$1.03 per diluted share for the quarter ended Sept. 30. The result compared with a profit of US$140.1 million or US$1.32 per diluted share in the same quarter last year.
Revenue totalled US$734.7 million for the quarter, down from US$885.7 million a year ago. Toys revenue for the quarter amounted to US$650.4 million in the quarter, down from US$810.9 million a year ago, while entertainment revenue totalled US$32.8 million, down from US$37.1 million. Digital games revenue rose to US$51.5 million from US$37.7 million a year ago.
On an adjusted basis, Spin Master says it earned US$1.11 per diluted share in its latest quarter compared with an adjusted profit of US$1.60 per diluted share in the same quarter last year.
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