Canada's TD Bank Q3 revenue beats estimates on strength in Canadian, wholesale banking
TD•Key quarterly figures and analyst view
| Metric | Beat/Miss | Actual | Consensus Estimate |
|---|---|---|---|
| Q3 Revenue | Beat | C$16.89 bln | C$15.28 bln (5 Analysts) |
| Q3 Adjusted Revenue | C$16.93 bln | ||
| Q3 Adjusted EPS | Beat | C$2.77 | C$2.47 (12 Analysts) |
| Q3 EPS | C$2.74 | ||
| Q3 Adjusted Net Income | C$4.67 bln | ||
| Q3 Net Income | C$4.62 bln | ||
| Q3 Net Interest Income | C$9.30 bln | ||
| Q3 CET1 Capital Ratio | 14.30% | ||
| Q3 Credit Loss Provision | C$917 mln |
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 9 "strong buy" or "buy", 5 "hold" and 1 "sell" or "strong sell".
The average consensus recommendation for the banks peer group is "buy".
Wall Street's median 12-month price target for Toronto-Dominion Bank is C$180.00, about 8.5% above its August 26 closing price of C$165.87.
The stock recently traded at 16 times the next 12-month earnings versus a P/E of 15 three months ago.
Outlook includes higher remediation costs
TD expects fiscal 2026 U.S. BSA/AML remediation costs to be about US$550 million pre-tax, up from US$500 million.
The company said the global economic outlook for late 2026 remains shaped by an oil price shock and inflation. TD Economics forecasts U.S. real GDP to expand by 2.2% in calendar 2026.
