Stock news for investors: Air Canada profit drops more than 50% in Q2 amid “challenging environment”

Air Canada says that on an adjusted basis, it had a net income of $207 million in the quarter compared to $369 million in the same quarter last year. Adjusted earnings worked out to 60 cents per diluted share in the quarter, compared to 98 cents per share last year. Analysts on average had expected an adjusted profit of 72 cents per diluted share according to LSEG Data & Analytics.

Despite the challenges, the airline reaffirmed its financial guidance for the year that it issued in May.

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George Weston reports $258 million Q2 profit, announces stock split

George Weston Ltd. says its second-quarter profit available to common shareholders amounted to $258 million, down from $400 million in the same quarter last year. 

The company, which holds large interests in Loblaw Cos. Ltd. and Choice Properties REIT, says the drop in profit from last year came in part because of a fair value adjustment of a trust unit liability.

On an adjusted basis, the company says it earned $401 million or $3.06 per diluted share for the quarter, up from an adjusted profit of $394 million or $2.93 per diluted share a year ago.

Analysts on average had expected an adjusted profit of $3.37 per diluted share, according to LSEG Data & Analytics. 

Revenue for the quarter totalled $14.82 billion, up from $14.09 billion in the same quarter last year.

George Weston, whose shares stand at around $260 each, also announced a three-for-one stock split in a move it says will ensure common shares remain accessible to retail investors and employees, and to improve liquidity.

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Lightspeed Commerce reports US$49.6 million loss in Q1, revenue US$304.9 million

Lightspeed Commerce Inc. says it lost US$49.6 million in its first quarter of 2026 compared with a net loss of US$35 million in the same quarter last year.

The Montreal-based company says on an adjusted basis, it made US$7.9 million in the quarter compared to US$16.1 million in the period last year. Adjusted net income for the period ended June 30 worked out to six cents per diluted share, compared to 10 cents per diluted share last year.

It says revenue totalled US$304.9 million, up from US$266.1 million last year.

The company says it added 1,700 customer locations across retail in North America and hospitality in Europe to make for five per cent growth from the previous year. Lightspeed says it expects revenue growth of between 10 and 12 per cent for its 2026 fiscal year.

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Bombardier reports second quarter income of $178 million

Bombardier Inc. says it had a net income of $178 million in the second quarter, up from $19 million in the same quarter last year.

The company says its adjusted net income for the quarter ending June 30 was $117 million, up from $111 million last year. Adjusted earnings per share came in at $1.11 each, compared with $1.04 per share last year.

Revenue totalled $2.03 billion in the quarter, down from $2.2 billion in the same period last year. The Montreal-based manufacturer says the quarter saw a sharp increase in orders, including in its defence division, while service revenue also rose.  

The company reported a backlog of $16.1 billion at the end of the quarter, up $1.9 billion from the end of the previous quarter.

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Gildan Activewear Inc. reports US$137.9 million profit for second quarter

Gildan Activewear Inc. says its earnings rose in the second quarter as it reaffirmed its full-year guidance after considering the impact of tariffs. The clothing manufacturer, which reports in U.S. dollars, says it earned US$137.9 million in the quarter ending June 29, up from US$58.4 million in the same quarter last year. 

The Montreal-based company says its adjusted earnings worked out to US$145.9 million, up from US$124.7 million last year. It says adjusted earnings were 97 cents per diluted share, up from 74 cents per diluted share last year. Net sales totalled US$918.5 million in the quarter, up from US$862.2 million in the period last year. 

Gildan says in reaffirming its guidance after weighing the impact of tariffs along with the options available to it to mitigate the effects, including pricing and its flexible business model.

Trucking firm TFI sees second-quarter profit dip as market weakness persists

TFI International Inc. has reported a drop in second-quarter profit as weak demand took a toll on the volume of goods it hauls. 

Canada’s largest trucking firm reported net income of US$98.2 million for the three months ended June 30, down from US$115.7 million a year earlier. That amounted to earnings of US$1.17 per diluted share, a decrease from US$1.36 during the same 2024 period. 

Revenue was US$2.04 billion versus US$2.26 billion in the prior-year quarter. 

Montreal-based TFI says the decrease was mainly due to reduced volumes driven by weaker end-market demand. 

Chief executive Alain Bédard says the company was able to perform despite still-subdued market conditions and he’s pleased that during the quarter TFI was able to pay a dividend and buy back shares.

Algoma Steel reports net loss of $110.6M in Q2 amid tariff pressures

Algoma Steel Group Inc. says lower steel shipment volumes and tariffs weighed on its bottom line during the second quarter. 

The steel maker reported a net loss of $110.6 million during the quarter compared with net income of $6.1 million a year earlier. Algoma Steel says it paid $64.1 million in tariffs during the quarter, compared to none during the same 2024 period. 

Revenue during the second quarter came in at $589.7 million, lower than $650.5 million the year before. 

Algoma Steel CEO Michael Garcia says the firm’s operational results met its expectations for the quarter, but were affected by tariff uncertainty and weak steel demand. 

Last week, the company said it is seeking $500 million in federal support as it faces continued uncertainty from U.S. tariffs on Canadian steel.

Read more about investing:

• Best ETFs in Canada
• Canadian companies facing supply-chain challenges in wake of U.S. tariffs
• Buying your first stocks in Canada

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