Canada's Scotiabank Q3 adjusted profit beats estimates

The Bank of Nova Scotia

25/08/2026 13:40

Overview
Canada bank's Q3 adjusted EPS and adjusted net income beat analyst expectations
Q3 revenue rose to C$10.54 bln, driven by strong results across all business lines
Company repurchased 8.6 mln shares during the quarter

Outlook
Scotiabank did not provide specific guidance or outlook for future quarters or the full year

Result Drivers
CANADIAN BANKING - Higher revenues, margin expansion, and fee income growth drove earnings, partly offset by higher expenses and credit loss provisions
GLOBAL WEALTH MANAGEMENT - Higher mutual fund fees, brokerage revenues, and net interest income boosted results, partly offset by higher expenses
GLOBAL BANKING AND MARKETS - Record earnings driven by strong capital markets revenue and record underwriting and advisory fees

Company press release: ID:nCNWNRLfqa

Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
Q3 Revenue
 
C$10.54 bln
 
Q3 Adjusted EPS
Beat
C$2.28
C$2.10 (13 Analysts)
Q3 EPS
 
C$2.27
 
Q3 Adjusted Net Income
Beat
C$2.97 bln
C$2.55 bln (9 Analysts)
Q3 Net Income
 
C$2.95 bln
 
Q3 Net Interest Income
 
C$5.87 bln
 
Q3 Adjusted ROE
 
14.2%
 
Q3 CET1 Capital Ratio
 
13.1%
 
Q3 Provision for credit losses
 
C$1.08 bln
 

Analyst Coverage
The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 5 "strong buy" or "buy", 9 "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 The Bank of Nova Scotia is C$126.50, about 5.2% above its August 24 closing price of C$120.29
The stock recently traded at 13 times the next 12-month earnings vs. a P/E of 12 three months ago

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Aug 24 - Deutsche Bank's €500 million buyback to begin on Tuesday

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)