Stock market news: Shopify and Suncor profits climb, RioCan hits occupancy record
From Shopify's revenue growth to Suncor's higher dividend, here's what happened in Canadian markets over the last week.
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From Shopify's revenue growth to Suncor's higher dividend, here's what happened in Canadian markets over the last week.
Numbers for its third quarter:
Shopify Inc. reported US$462 million in third-quarter net income, up from US$264 million in the same quarter last year, as its revenue rose more than 30%.
The e-commerce company, which keeps its books in U.S. dollars, says the profit amounted to 36 cents US per diluted share for the quarter ended Sept. 30 compared with a profit of 20 cents US per diluted share a year earlier.
On an adjusted basis, Shopify says its profit amounted to 49 cents US per diluted share in its latest quarter, up from an adjusted profit of 34 cents per diluted share in the third quarter of 2025.
Revenue for the quarter totalled US$3.74 billion, up from $2.84 billion in the same quarter last year. The results included US$836 million in subscription solutions revenue, up from US$699 million a year ago, while merchant solutions revenue totalled $2.91 billion, up from $2.15 billion in the same quarter last year.
In its outlook for its fourth quarter, Shopify says it expects revenue to grow at a low-thirties percentage rate on a year-over-year basis.
Numbers for its third quarter:
Oilsands giant Suncor Energy Inc. reported net earnings of $3.8 billion during the third quarter, up from $1.6 billion during the same period last year. On a per share basis, its profit amounted to $3.27, compared with $1.34 during the prior-year quarter.
Adjusted operating earnings, which Suncor considers a better gauge of its underlying performance because it filters out the effects of unusual items, were $4.6 billion, or $3.97 per share. That’s up from last year’s third quarter, when Suncor had adjusted operating earnings of $1.8 billion, or $1.48 per share.
Total upstream production was 852.5 million barrels per day in the third quarter, down year-over-year from 870 million.
Subsequent to its third quarter, Suncor’s board of directors approved a dividend increase of 10 per cent to 66 cents per common share.
Numbers for its third quarter:
Thomson Reuters Corp. reported a third-quarter profit of US$339 million, down from US$423 million in the same quarter last year, as its revenue rose 10%. The company, which keeps its books in U.S. dollars, says the profit amounted to 78 cents US per diluted share for the quarter ended Sept. 30, down from a profit of 94 cents US per diluted share a year ago.
On an adjusted basis, Thomson Reuters says it earned 81 cents US per share in its latest quarter, up from an adjusted profit of 71 cents US per share in the third quarter of 2025.
Revenue for the quarter totalled US$1.83 billion, up from US$1.66 billion a year earlier.
On Oct. 1, Thomson Reuters completed its deal to sell a 51% stake in its global print business to investment firm KKR for US$500 million. The business, now a joint venture between Thomson Reuters and KKR, now operates as Westbridge Print.
Numbers for its third quarter:
RioCan Real Estate Investment Trust reported its retail committed occupancy rate hit a record high of 98.9% in its third quarter, driven by low supply of new space and robust demand from retailers. The rate marked an increase from 98.4% in the same quarter a year earlier.
Chief executive Jonathan Gitlin says there’s been little new supply that’s come online over the past decade, largely because it hasn’t been economically viable to build new retail space. That has left limited existing space for new retailers to move into.
He also says the company’s strategy of focusing on necessity-based tenants, like grocery stores and pharmacies, continues to pay off for its retail portfolio.
RioCan reported a profit of $122.6 million during the third quarter, compared with a loss of $120.3 million a year earlier. The profit amounted to diluted net income per unit of 42 cents, up from a diluted loss per unit of 41 cents last year.
Numbers for its third quarter:
Maple Leaf Foods Inc., which spun off its pork business as Canada Packers Inc. last year, reported a third-quarter profit from continuing operations of $22.3 million as its sales edged higher compared with a year ago. The poultry and prepared foods company says its profit amounted to 18 cents per share for the quarter ended Sept. 30.
The result compared with a profit of $23.3 million or 19 cents per share in the same quarter last year.
On an adjusted basis, Maple Leaf says it earned 36 cents per share in its latest quarter up from an adjusted profit of 21 cents per share a year ago.
Sales for the quarter totalled $1.03 billion, up from $1.01 billion in the third quarter of 2025. Maple Leaf says poultry sales increased by 4.3 per cent, while prepared food sales rose by 1.3 per cent.
Numbers for its third quarter:
Canfor Corp. reported a third-quarter loss of $88.2 million compared with a loss of $172.4 million in the same quarter last year. The forestry company says the loss amounted to 75 cents per diluted share for the quarter compared with a loss of $1.48 per diluted share in the third quarter of 2025.
Sales for the quarter totalled $1.28 billion, up from $1.26 billion a year earlier.
On an adjusted basis, Canfor says it saw an operating loss of $43.8 million in its latest quarter compared with an adjusted operating loss of $188.5 million a year ago.
Canfor CEO Susan Yurkovich said the company anticipates market conditions will remain challenging through the balance of the year, with softer seasonal demand for lumber and continued pressure in global pulp markets.
During the quarter, the company announced the permanent closure of its sawmill in Fox Creek, Alta., and the Northwood pulp mill in Prince George, B.C.
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