TD Bank Group provides insights on anticipated effects of Charles Schwab Corporation’s Fourth Quarter performance

TD Bank Group has shared its insight on the anticipated impact of the fourth-quarter earnings of The Charles Schwab Corporation. The Bank expects that Schwab’s earnings will result in approximately CDN $231 million of reported equity in net income from an investment in Schwab for the Bank’s fiscal first quarter of 2025. Excluding the after-tax amortization of acquired intangibles, which amounts to around CDN $26 million, the adjusted equity in net income from the investment in Schwab is expected to be approximately CDN $257 million.

For more detailed financial results, TD Bank Group will unveil its first-quarter figures and conduct an earnings conference call on February 27, 2025. The specifics of the conference call and the audio webcast will be disclosed closer to the scheduled date.

It is important to note that the Bank’s financial outcomes are prepared following International Financial Reporting Standards (IFRS) and the generally accepted accounting principles (GAAP). The Bank categorizes results prepared under IFRS as “reported” results but also uses non-GAAP financial measures, termed “adjusted” results, to evaluate its businesses and overall performance. These adjusted results exclude “items of note” from reported results, which are considered by management as not reflective of the underlying business performance. By presenting adjusted results, the Bank aims to offer readers a clearer perspective of how management appraises the Bank’s performance. Nevertheless, it must be recognized that adjusted results differ from reported results based on IFRS guidelines, making it challenging to compare them to similar terms used by other entities. A thorough reconciliation between the Bank’s reported and adjusted results can be found in the “Financial Results Overview – How the Bank Reports” section of the Bank’s 2024 Management’s Discussion and Analysis report.

Moreover, it is emphasized that the Bank routinely makes forward-looking statements in various forms, such as written documents, oral presentations, regulatory filings with Canadian regulators or the U.S. Securities and Exchange Commission (SEC), and other communications. These statements, made within the “safe harbor” provisions and in adherence to applicable Canadian and U.S. securities legislation, include insights into the Bank’s objectives and priorities for 2025 and beyond, strategies to achieve them, the regulatory setting, and projected financial performance. Typically identified by key phrases like “will”, “should”, “believe”, “expect”, “anticipate”, and others, these forward-looking statements are intrinsically based on assumptions and subject to both general and specific risks and uncertainties.

In conclusion, with a firm grasp on the expected implications of Charles Schwab Corporation’s fourth-quarter performance and a transparent approach to financial reporting, TD Bank Group continues to navigate the dynamic landscape of the financial sector, fostering clarity and accountability in its operations.