TD Bank Group Expects C$194M Boost From Schwab's Q1 Earnings In Q2 2024, Forecasts C$229M In Adjusted Income

Author: Benzinga Newsdesk | April 16, 2024 06:42am

TORONTO, April 16, 2024 /CNW/ - TD Bank Group (the "Bank") announced today that it expects The Charles Schwab Corporation's ("Schwab") first quarter earnings to translate into approximately CDN $194 million of reported equity in net income of an investment in Schwab for the Bank's fiscal 2024 second quarter. Excluding acquisition-related charges of approximately CDN $5 million after-tax and amortization of acquired intangibles of approximately CDN $30 million after-tax, adjusted equity in net income of an investment in Schwab will be approximately CDN $229 million.

TD Bank Group will release its second quarter financial results and host an earnings conference call on May 23, 2024. Conference call and audio webcast details will be announced closer to that date.

Posted In: SCHW TD