Canada's TD Bank Q1 profit beats expectations on record domestic business

Toronto-Dominion Bank

26/02/2026 11:39

Overview

Canada's Toronto-Dominion Bank Q1 revenue beats analyst expectations

Adjusted EPS for Q1 beat analyst expectations

Company completed restructuring program, incurring $200 mln in charges

Outlook

TD expects US$500 mln pre-tax spending on U.S. BSA/AML remediation in fiscal 2026

Global economy forecast to slow in 2026 due to trade barriers and cyclical momentum

TD deploying AI applications to enhance client experiences and operational efficiency

Result Drivers

CANADIAN BANKING GROWTH - Canadian Personal and Commercial Banking achieved record revenue and earnings, driven by increased loan and deposit volumes and lower credit loss provisions

U.S. BANKING MOMENTUM - U.S. Banking reported significant net income growth due to balance sheet restructuring and lower provisions for credit losses

WEALTH MANAGEMENT RECORD - Wealth Management and Insurance delivered record earnings, driven by strong transaction revenue and insurance premiums growth

Company press release: ID:nCNWyNTmJa

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q1 Revenue
Beat
C$16.59 bln
C$14.62 bln (4 Analysts)
Q1 Adjusted Revenue
C$16.63 bln
Q1 Adjusted EPS
Beat
C$2.44
C$2.26 (13 Analysts)
Q1 EPS
C$2.34
Q1 Adjusted Net Income
C$4.22 bln
Q1 Net Income
C$4.04 bln
Q1 Net Interest Income
C$8.79 bln
Q1 CET1 Capital Ratio
14.50%
Q1 Credit Loss Provision
C$1.04 bln


Analyst Coverage

The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 8 "strong buy" or "buy", 6 "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$136.00, about 2.3% above its February 25 closing price of C$132.96

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.)