Bank of Montreal (NYSE:BMO) reported third-quarter net income of C$1.75 billion, down 25% from a year earlier, while company-defined non-GAAP adjusted net income increased 19% to C$2.86 billion. Reported diluted EPS fell 24% to C$2.38, but company-defined non-GAAP adjusted diluted EPS rose 22% to C$3.96.
The divergence primarily reflected Bank of Montreal's (NYSE:BMO) announced sale of its Transportation Finance and Vendor Finance businesses to Stonepeak. The transaction produced a C$1.09 billion pretax charge, or C$962 million after tax, primarily related to a reduction in goodwill.
Including costs **** ociated with the separate sale of 138 U.S. branches, Bank of Montreal (NYSE:BMO) reported aggregate after-tax divestiture adjustments of C$973 million. The rounded components—C$962 million and C$10 million—do not sum exactly to the reported total.
The finance-business transaction includes related loan portfolios in Canada and the United States. Bank of Montreal (NYSE:BMO) plans to retain a 19.9% equity interest, while the sale is expected to close in the fourth quarter of fiscal 2026, subject to regulatory approvals.
The adjusted results show that Bank of Montreal's (NYSE:BMO) operating businesses strengthened during the quarter. The bank said every business segment generated record pre-provision, pre-tax earnings, a company-defined performance measure.
#million #finance #quarter
The divergence primarily reflected Bank of Montreal's (NYSE:BMO) announced sale of its Transportation Finance and Vendor Finance businesses to Stonepeak. The transaction produced a C$1.09 billion pretax charge, or C$962 million after tax, primarily related to a reduction in goodwill.
Including costs **** ociated with the separate sale of 138 U.S. branches, Bank of Montreal (NYSE:BMO) reported aggregate after-tax divestiture adjustments of C$973 million. The rounded components—C$962 million and C$10 million—do not sum exactly to the reported total.
The finance-business transaction includes related loan portfolios in Canada and the United States. Bank of Montreal (NYSE:BMO) plans to retain a 19.9% equity interest, while the sale is expected to close in the fourth quarter of fiscal 2026, subject to regulatory approvals.
The adjusted results show that Bank of Montreal's (NYSE:BMO) operating businesses strengthened during the quarter. The bank said every business segment generated record pre-provision, pre-tax earnings, a company-defined performance measure.
#million #finance #quarter
2 days ago
