$EQB.TO

EQB Announcing Executive Appointments and Elevations As It Prepares To Close Its Acquisition of PC Financial from Loblaw on July 1, 2026

EQB Price Target Lowered By $9 at TD

TD Securities lowered its price target on EQB Inc. (EQB.TO) to $123 from $132 on Thursday.Analyst Mario Mendonca maintained a Buy rating on shares of the Canadian digital financial services company following its Q2 results."EPS beat consensus by $0.05 (lower by $0.05 vs. our estimate) on much better operating leverage," Mendonca said in a note to clients. "However, the credit picture deteriorated. PCLs were up 16% q/q.""We think investors will focus on impaired PCLs and sizeable adjustments to operating expenses," the analyst said."We like EQB on strong buying activity (buybacks/Loblaw) & PC deal, but acknowledge that credit and loan growth are an issue."(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www..com/contact-us)

EQB Reports Q2 Adjusted Earnings Miss as Revenue Falls; Raises Dividend, Advances PC Financial Acquisition

EQB (EQB.TO), which is in the process of acquiring PC Financial from Loblaw (L.TO), on Wednesday after market close reported a 17% year-over-year drop in its fiscal second-quarter adjusted earnings, as lower revenue weighed on results and earnings missed analysts' estimates.Adjusted net income, excluding most one-time items, dropped to C$78.31 million, or $2.03 per share, from $94.21 million, or $2.31. Analysts polled by FactSet had expected $2.07 per share.Quarterly revenue contracted to $302.36 million, from $315.95 million, just below the $304.4 million forecast.The company also declared a dividend of $0.61 per common share payable on June 30, 2026, to shareholders of record as of June 15, 2026, representing 3% and 15% increases from the dividends paid in March 2026 and June 2025, respectively."The second quarter reflected solid performance during a persistently uncertain economic environment and our team performed well against this backdrop, continuing to demonstrate operating discipline, renewed focus, and financial resilience," said CEO Chadwick Westlake."As we look ahead to the second half of the year, our business will meaningfully shift with the anticipated July 1 close of our PC Financial transaction - positioning us to serve millions of Canadians as a challenger at scale. Through a new loyalty-linked banking ecosystem, we will provide Canadians with better value, better products, more rewards and new channels, putting real choice and control back into their hands and giving every Canadian the opportunity to get ahead, every day," added Westlake.EQB said it secured final approval for the acquisition of PC Financial from the Minister of Finance and National Revenue on May 5. Through the acquisition, the company aims to expand its customer base to 3.3 million Canadians, add approximately $5.8 billion in assets and $800 million in direct retail deposits.EQB's provision for credit losses were up 16% quarter-over-quarter, "reflecting higher performing and impaired provisions", the company said.The company said it purchased and cancelled 1,226,734 shares through its active Normal Course Issuer Bid, supporting a return of capital for shareholders.EQB shares closed down $3.23 to $114.09 on the Toronto Stock Exchange.

Earnings Flash (EQB.TO) EQB Inc. Announcing Expected July 1, 2026 Closing of PC Financial

EQB Inc Q2 Revenue $302.4M

EQB Inc Q2 Adjusted diluted EPS $2.03

EQB Gets Federal Govt Approval to Acquire Loblaw's PC Financial

EQB (EQB.TO) has received Federal approval to proceed with its acquisition of PC Financial from Loblaw Companies (L.TO), the company said on Tuesday.The approval follows a recommendation from the Office of the Superintendent of Financial Institutions (OSFI), and Competition Bureau clearance in March.EQB announced last December that it was acquiring PC Financial in a deal valued at $800 million, in cash and shares. Loblaw would take a minimum 17% equity stake in the company, and EQB would become the exclusive financial partner of the PC Optimum loyalty program.The acquisition will see EQB expand its total customer base to 3.3 million Canadians and add $5.8 billion in assets and $800 million in direct retail deposits. EQB said it will be able to offer everyday banking, lending, payments, and rewards through a single integrated ecosystem to the more than 18 million active PC Optimum loyalty members.The acquisition is expected to close in the summer.EQB shares were last seen up $0.98, to $122.24, on the Toronto Stock Exchange. Loblaw shares are up $0.58, to 62.56.Price: $122.37, Change: $+1.11, Percent Change: +0.92%

EQB Inc. Said To Issue 6.760% Limited Recourse Capital Notes in $200M Offering