The Toronto-Dominion Bank (TSX:TD.PR.S.PFD)

C$ 24.98 (0%) Market Cap: - Enterprise Value: 11.34 Bil PE Ratio: 10.48 PB Ratio: 1.51 GF Score: 77/100

Q4 2024 Toronto-Dominion Bank Earnings Call Transcript

Dec 5, 2024 / 02:30 PM GMT

Transcript

Key Points

Positve

The Toronto-Dominion Bank (TD) reported strong revenue growth of 12% year over year, driven by higher fee income in market-related businesses and higher volumes in Canada.
The bank declared a $0.03 dividend increase, bringing the dividend to $1.05 per share, reflecting confidence in its earnings power.
Canadian personal and commercial banking delivered record revenues with robust loan and deposit growth, showcasing strong business fundamentals.
TD Securities demonstrated the power of the combined TD Securities and TD Cowen franchise, with significant revenue growth and strategic wins.
The bank's wealth management and insurance segments delivered record revenue, driven by higher insurance premiums, asset growth, and increased trades per day.

Negative

Earnings for the quarter were $3.2 billion, with EPS down 8% and 5% year over year, respectively, indicating profitability challenges.
The bank is undergoing a multiyear AML remediation effort, which is expected to impact expenses and operational focus.
Record catastrophic claims in the insurance business and increased impaired PCLs in non-retail lending portfolios negatively impacted financial performance.
The US retail segment saw a 13% decline in net income year over year, driven by higher PCLs and expenses.
The bank suspended its medium-term adjusted EPS growth, ROE, and operating leverage targets due to ongoing strategic review and remediation efforts.

Refinitiv StreetEvents Event Transcript
E D I T E D V E R S I O N

TD.TO - Toronto-Dominion Bank
Q4 2024 Toronto-Dominion Bank Earnings Call
Dec 05, 2024 / 02:30PM GMT

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Presentation
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Unidentified_1 [1]
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Again.

Good morning, everyone. Welcome to the TD Bank Group Q4 2024 earnings conference call.

I would now like to turn the meeting over to Miss Brooke Hills, head of investor relations. Please go ahead, Miss Hills.

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Unidentified_2 [2]
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Thank you, operator. Good morning and welcome to TD Bank Group's fourth quarter, 2024 investor presentation. Many of us are joining today's meeting from lands across North America. North America is known as Turtle Island by many indigenous communities. I am currently situated in Toronto as such. I would

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