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Canadian Tire (CDNTF) Q3 2026 Earnings Report

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CDNTF Q3 2026 EPS Results

Actual EPS
$3.00
Consensus EPS
$2.67
Beat/Miss
Beat by +$0.33
One Year Ago EPS
$2.65

CDNTF Q3 2026 Revenue Results

Actual Revenue
$4.32B
Expected Revenue
$3.00B
Beat/Miss
Beat by +$1.32B
YoY Revenue Growth
+50.08%

Earnings Announcement Details

Quarter
Q3 2026
Date
11/12/2026
Time
Before Open
Conference Call
Thursday, November 12, 2026
CDNTF Upcoming Earnings

Canadian Tire's next earnings date is estimated for February 18, 2027, based on past reporting schedules.

Q3 2026 Earnings Call Audio

CDNTF Q3 2026 Earnings Call
0:00 / 0:00

Q3 2026 Earnings Slide Deck

Q3 2026 Earnings Call Summary

Q3 2026
Earnings Call Date:Nov 12, 2026|% Change Since:―|
Earnings Call Sentiment|Positive

The call was predominantly positive. Canadian Tire reported broad-based sales growth, 13% normalized EPS growth, improved retail profitability and returns, strong Financial Services performance, market-share gains and continued progress on True North initiatives. However, management highlighted meaningful macroeconomic uncertainty, weaker consumer sentiment, a slower Q4 start, difficult comparisons, expected margin and SG&A pressure, and transportation and fuel headwinds. The highlights significantly outweighed the lowlights.

Company Guidance

For 2026, Canadian Tire expects CapEx to be between $450 million and $500 million, anticipates completing its $400 million share repurchase intention by year-end after completing close to 80% as of quarter-end, and will increase its annual dividend to $7.30 per share beginning in March; management expects Q4 rate pressure, SG&A rate pressure, and no operating leverage like Q3, while Financial Services profitability is expected to continue improving if credit metrics remain stable and there are no major jumps in insolvencies. The company’s North Star retail gross margin rate of 35% plus remains a good long-term anchor, although fuel and transportation are expected to present a headwind in Q4 and ramp into at least the first half of '27; pricing is expected to remain in a very dynamic and very value-oriented price cycle for the next probably a year to 18 months. The longer-term financial framework targets revenue growth of 3% to 4% on a consistent basis with a supportive backdrop of 2% economic growth.

  • Broad-Based Q3 Sales and Earnings GrowthManagement described Q3 results as solid across the board, with sales growth in each CTC banner and CTR division. Diluted EPS was $4.27, up 13% year-over-year on a normalized basis, supported by broad-based sales growth, disciplined execution, a lower share count and a favorable blended tax rate.
  • Retail Sales, Revenue and Comparable Sales IncreasedRetail sales increased 4.4% and retail revenue increased 5% in Q3. Excluding Petroleum, retail sales rose 1.7% and revenue increased 1.5%. Comparable sales increased 3.2%, with all three banners growing more than 3%, supported by strong September results.
  • Canadian Tire Retail Delivered Broad-Based GrowthCTR comparable sales increased 3.2%, with both Essentials and discretionary categories up and all divisions growing. Living and Seasonal and Gardening led growth, benefiting from more consistent weather, while the back-to-class campaign supported food storage, kitchen appliances and cleaning products. Automotive extended its growth streak to 25 consecutive quarters.
  • E-Commerce Growth Accelerated at CTRCTR e-commerce sales increased 25% in Q3. Growth was supported by continued strength in pickup at store, the ramp-up of ship-to-home, free shipping for Triangle members, DoorDash same-day delivery and improvements to search, product pages and digital inspiration. The majority of stores now turn e-commerce orders around in less than an hour.
  • Mark's and SportChek Comparable Sales GrewSportChek comparable sales increased 3.2%, supported by targeted inventory investments, newness and athletic footwear; fanwear contributed approximately one-third of the growth, with team sports and hockey also performing well. Mark's comparable sales increased 3.3%, led by industrial footwear, workwear, Carhartt and Levi's.
  • New Store Formats Are Driving GrowthNew-format stores contributed 30% of year-to-date sales growth at Mark's and SportChek. Mark's BBB stores continued to outperform, including the newest and largest location in Thunder Bay. Management said the concept is generating strong consumer feedback, NPS and basket sizes, with better margin profiles and strong returns so far.
  • Loyalty Engagement and Traffic IncreasedTriangle loyalty sales increased 6% and traffic increased 3.6%. Loyalty sales grew more than twice as fast as retail sales in Q3, and spending increased across all purchasing-power segments. High-debt and low-income members recorded the highest spend increases.
  • Market Share Gains Across All Three BannersManagement said its independent market-share source suggested that Canadian Tire gained share in all three banners and at the aggregate CTC level during Q3. SportChek's loyalty penetration reached its highest level ever, including a 400-basis-point increase in the quarter.
  • Financial Services Profitability and Credit Metrics Remained ResilientFinancial Services IBT increased 18%, with record revenue and gross-margin expansion more than offsetting SG&A investments. GAAR increased 4.2%, average balances rose with higher card spend, and improved cardholder retention supported active-account growth. Aging declined slightly year-over-year to 3.4%, the net write-off rate held at 7.2%, and the $935 million allowance was unchanged.
  • Retail Profitability and Returns ImprovedRetail IBT increased nearly 3% to $198 million, normalized retail EBITDA increased 2% to $495 million, and retail ROIC improved 60 basis points year-over-year to 11.2%. Retail SG&A dollars were broadly flat despite higher revenue, and SG&A as a percentage of revenue excluding Petroleum improved 29 basis points to 24%.
  • Disciplined Cost Management ContinuedManagement said performance management and operating discipline, together with timing benefits and savings from last year's restructuring, supported operating leverage while the company continued investing in strategic priorities.
  • Capital Allocation Included Dividend Growth and BuybacksThe company expects 2026 CapEx to be between $450 million and $500 million. The annual dividend will increase to $7.30 per share beginning in March, marking the 17th consecutive year of dividend increases. By quarter-end, the company had completed close to 80% of its $400 million 2026 share repurchase intention and anticipated completing the program by year-end.
  • True North Transformation Is Moving From Planning to ExecutionManagement said True North has moved from vision and planning into execution, with omnichannel enhancements, loyalty, scaled partnerships and AI productivity capabilities beginning to create real value. The company is using platforms including MOSaiC and David to support assortment, pricing, promotions, merchandising and customer outcomes.
  • Omnichannel and Loyalty Capabilities ExpandedYear-to-date e-commerce sales were up 11%. The company added Tim Hortons as a major brand distributing Canadian Tire Money; 200,000 Canadians linked their accounts in the first four weeks, and that number more than doubled afterward. Over the last two years, active membership increased by one million Canadians.
  • Partnership Engagement GrewNearly 3 million unique members were engaged in Canadian Tire partnerships through offers, credit cards or account linking, up 50% from $2 million as corrected by management. Management said this progress supports its belief that partnership engagement could reach $4 million over time, although only 15% of members were linked to more than one partner.
  • Occasion-Based Strategy Showed Early ResultsThe Back to Class Lighthouse increased sales and share in a $3.4 billion market. For the holiday Lighthouse, management identified a greater-than-$5 billion addressable market and expanded assortments in value wrapping products, ornaments, Christmas lights, outdoor decorations and toys.
  • AI and Data Investments ContinuedMOSaiC guided the Back to School Lighthouse, David optimized the balance between price, promotions and margin, and the company continued developing a new AI platform with Microsoft and its dealers to bring more data and science to store operations. Management said its retail media business is small but growing and is currently focused on creating value within the retail system.
  • Triangle World Elite Mastercard Received RecognitionThe Triangle World Elite Mastercard was named customers' top-ranked no-fee card by J.D. Power for the third consecutive year.
  • Women's Sports Sponsorship Target AchievedThe company reached its goal that half of its professional sports sponsorships would support women's sport by the end of 2026, following a commitment made in 2023.

CDNTF Earnings History

CDNTF earnings history
Report DateFiscal QuarterForecast / EPSLast Year's EPSEPS YoY ChangePress Release
Feb 18, 20272026 (Q4)3.09-3.14――
Nov 12, 20262026 (Q3)2.673.002.6512.96% (+0.34)
Aug 13, 20262026 (Q2)2.772.762.5110.36% (+0.26)
May 14, 20262026 (Q1)1.271.421.41.00% (+0.01)
Feb 19, 20262025 (Q4)2.673.142.869.83% (+0.28)
Nov 06, 20252025 (Q3)1.992.652.525.29% (+0.13)
Aug 07, 20252025 (Q2)2.742.512.50.28% (+0.01)
May 08, 20252025 (Q1)0.861.400.9744.93% (+0.44)
Feb 13, 20252024 (Q4)3.002.862.3720.41% (+0.48)
Nov 07, 20242024 (Q3)2.122.522.0821.28% (+0.44)

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

Beat Missed