BMO reports higher Q4 net income but misses earnings per share due to increased credit losses.

Bank of Montreal (BMO) reported a higher Q4 net income of $2.3 billion compared to $1.7 billion last year, driven by a $1.18 billion legal judgment reversal. However, adjusted earnings per share of $1.90 missed analyst expectations of $2.41, primarily due to a significant rise in credit loss provisions to $1.52 billion from $446 million a year ago. BMO plans to increase its quarterly dividend to $1.59 per share and intends to repurchase up to 20 million shares. The bank expects credit provisions to moderate in 2025.

December 05, 2024
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