Laurentian Bank Earnings Miss Estimates Amid Restructuring Charges

Laurentian Bank of Canada reported third-quarter adjusted earnings per share (EPS) of $0.51, missing the analyst consensus estimate of $0.63 by 19.05%. The result marked a 34.62% decline from $0.78 per share in the same period last year.

The bank's quarterly sales of $241.734 million missed the analyst consensus estimate of $251.700 million by 3.96%, representing a 2.06% decrease from sales of $246.809 million in the prior year period.

Laurentian Bank's financial performance was impacted by higher provisions for credit losses, which more than doubled to $25.6 million from $11.1 million a year earlier.

The bank's Common Equity Tier 1 (CET1) capital ratio edged down 10 basis points to 11.2%, remaining well above regulatory minimums.