RBC Leads Record Earnings Surge as TD, Dollar General, Best Buy, Burlington & More Beat Estimates in Market Rally

Mumbai, Aug 28: A wave of robust corporate earnings swept through financial markets today, with several major companies reporting stronger-than-expected results and upbeat outlooks. The positive earnings updates across the banking, retail and consumer sectors helped support broader market activity, as investors assessed corporate performance and the strength of underlying business conditions. 

RBC Delivers Record C$6,024M Net Income as Wealth Management and Capital Markets Drive 11% YoY Growth 

Royal Bank of Canada reported record third-quarter net income of C$6.024 billion, up 11% year-over-year, while adjusted net income reached C$6.101 billion. Revenue rose 9%, supported by 5% growth in net interest income and 13% growth in non-interest income. Reported return on equity was 17.9%, while adjusted ROE stood at 18.1%. RBC maintained its CET1 ratio at 13.5% and returned C$4 billion to shareholders through dividends and share repurchases.  

Wealth Management delivered particularly strong growth, with net income rising 32% to C$1.442 billion. Capital Markets generated record revenue of C$4.2 billion, up 12%, while pre-provision, pre-tax earnings rose 21% to C$2 billion. Personal Banking revenue reached a record C$5.3 billion, although net income slipped 1% to C$1.923 billion. RBC also maintained its full-year outlook, with year-to-date all-bank net interest income excluding trading up 7%. RBC shares traded at C$203.74, down 1.67%, despite gaining nearly 24% year-to-date. 

TD Bank Shares Rise 1.4% as Adjusted EPS Climbs to C$2.77 and Earnings Strengthen Across Segments 

Toronto-Dominion Bank reported third-quarter adjusted diluted EPS of C$2.77, compared with C$2.20 a year earlier. Adjusted net income increased to C$4.67 billion from C$3.87 billion, while revenue rose to C$16.92 billion from C$16.03 billion.  

Provision for credit losses declined to C$917 million from C$1 billion, helping adjusted ROE improve to 16% from 14.4%. Canadian Personal and Commercial Banking net income rose 7% to C$2.10 billion, supported by higher revenue, loan and deposit volumes and margins. U.S. Banking net income increased 12% to C$1.07 billion, while Wealth Management and Insurance rose 20% to C$841 million.  

Wholesale Banking was a standout, with adjusted net income jumping 76% to C$743 million. TD shares rose 1.4% in U.S. premarket trading, reaching US$166.35. 

Dollar General Shares Surge 4.7% as $2.48 EPS Beats Estimates by $0.48 

Dollar General reported second-quarter EPS of $2.48, beating the $2.00 analyst estimate by $0.48. Revenue reached approximately $11.29 billion, up 5.2% year-over-year and slightly above consensus. Same-store sales increased 3.5%, ahead of the 2.6% expected increase. Consumables generated $9.26 billion in sales, up 5%, while Seasonal sales increased 7.4% to $1.19 billion.  

The retailer ended the quarter with 21,148 stores and 161.52 million square feet of selling space. For fiscal 2027, Dollar General expects EPS of $7.80-$8.00, above the analyst consensus of $7.39. The earnings beat translated into a strong market response, with Dollar General shares closing at $122.78, up 4.70%. The stock was also up 11% over three months and 9.91% over 12 months. 

Dollar Tree Gains 4.58% as $2.70 EPS Includes $1.31 Tariff Refund Benefit 

Dollar Tree reported second-quarter sales of approximately $4.9 billion, up 7%, while comparable-store sales increased 3.7%. Diluted EPS reached $2.70, including a $1.31 benefit from tariff refunds.  

Operating income margin expanded by 900 basis points, with 650 basis points attributable to tariff refunds. Gross margin increased 850 basis points to 42.9%, also benefiting significantly from refunds, while lower tariff rates, favourable shrink and occupancy leverage supported the remaining improvement.  

The company returned $605 million through share repurchases and opened 75 new stores. It ended the quarter with approximately 6,600 multi-price stores. Dollar Tree raised fiscal 2026 adjusted EPS guidance to $7.70-$8.05, including an estimated $0.60 tariff-refund benefit. Shares traded at $158.34, up 4.58% on the day. 

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Burlington Stores Advances 4.2% as Adjusted EPS Jumps 38% on Sales and Margin Expansion 

Burlington Stores reported second-quarter sales of $2.998 billion, up 11%, while comparable-store sales increased 2%. Net income was $184 million, and diluted EPS was $2.88. Excluding tariff refunds and certain bankruptcy-related lease expenses, adjusted EPS increased 38% to $2.37, marking the company’s 15th consecutive quarter of double-digit EPS growth.  

Gross margin improved to 46.2% from 43.7%, while adjusted EBIT margin increased 100 basis points. Adjusted EBITDA reached $324 million, compared with $257 million a year earlier. Burlington ended the quarter with $1.646 billion in liquidity. The company expects fiscal 2026 sales growth of 10%-11% and adjusted EPS of $11.77-$11.97. Shares closed at $284.56, up 4.2%. 

Best Buy Raises FY27 EPS Guidance to $6.70-$6.90 as Comparable Sales Rise 4.1% 

Best Buy reported second-quarter enterprise comparable sales growth of 4.1%, while diluted EPS increased 70% to $1.48 and adjusted diluted EPS rose 15% to $1.47. Revenue increased to $9.779 billion from $9.438 billion a year earlier. Domestic comparable sales rose 4.5%, supported by computing, home theatre and emerging categories such as AI glasses and trading cards.  

Domestic online revenue increased 5.1% to $3 billion. Domestic gross profit margin improved to 24% from 23.4%, partly reflecting Marketplace and Best Buy Ads growth and approximately $34 million of tariff refunds. Best Buy raised fiscal 2027 guidance, forecasting revenue of $42.3-$42.8 billion and adjusted EPS of $6.70-$6.90. Shares traded at $96.78, up 2.1%. 

Harmony Gold Falls 5.84% Despite Record ZAR30B Profit as Production Transition Weighs on Outlook 

Harmony Gold reported a record financial year, with revenue rising 34% to ZAR99.2 billion and net profit doubling 102% to ZAR30 billion. Headline EPS increased 87% to ZAR43.63, while adjusted free cash flow reached a record ZAR17 billion. Gold production was 1.43 million ounces, meeting guidance for the 11th consecutive year, while copper production reached 18,200 tonnes.  

The average gold price received increased 35%, although all-in sustaining costs rose 13%. Harmony ended the year with only ZAR852 million in net debt and declared a record final dividend of ZAR7.50 per share. For FY2027, gold production is expected at 1.3-1.4 million ounces, while capital spending is projected at approximately ZAR28 billion, up 64%.  Shares nevertheless fell 5.84% to $21.12, as the market weighed higher spending and production-transition risks. 

Hormel Foods Shares Slip 1.2% as Foodservice Growth Offsets Pressure on Retail and International Sales 

Hormel Foods reported third-quarter fiscal 2026 net sales of $2.96 billion, while adjusted operating income reached $266 million. Adjusted diluted EPS was $0.37, and operating cash flow rose 54% to $241 million. The company raised its fiscal 2026 adjusted EPS guidance to $1.45-$1.51, representing 6%-10% growth.  

Foodservice recorded its 12th consecutive quarter of organic sales growth, rising 2%, while Retail organic sales declined 3% and International sales fell 4%. Results included significant charges related to the Brazil divestiture, an Indonesian investment impairment and a litigation settlement. Hormel returned $161 million to shareholders through dividends. Shares traded at $32.45, down 1.2% on the day. 

HealthEquity Drops 11.24% Despite EPS Beat as FY27 Guidance Offers Limited Upside 

HealthEquity reported second-quarter EPS of $1.24, beating the $1.19 analyst estimate, while revenue reached $350.73 million, slightly above the $349.22 million consensus. The company expects fiscal 2027 revenue of $1.41-$1.42 billion, broadly in line with the $1.41 billion consensus, while EPS guidance of $4.66-$4.73 compares with an analyst estimate of $4.72.  

Despite the earnings beat, the stock fell sharply, suggesting the outlook did not provide enough upside relative to expectations. HealthEquity shares closed at $92.68, down 11.24%. The stock had gained 18.67% over the previous three months before the decline. 

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Bilibili Gains 2.8% as Net Profit Jumps 55% and Advertising Revenue Rises 28% 

Bilibili reported second-quarter revenue of RMB7.94 billion, up 8% year-over-year, while advertising revenue increased 28% to RMB3.13 billion. Gross profit rose 10% to RMB2.95 billion, lifting gross margin to 37.2%.  

Net profit jumped 55% to RMB339.1 million, while adjusted net profit increased 25% to RMB703.6 million. Average daily active users reached 116.5 million, up 7%, while average daily time spent rose to 113 minutes. Value-added services revenue increased 5% to RMB2.97 billion, although mobile games revenue declined 14% to RMB1.39 billion.  

The company held RMB24.3 billion in cash, time deposits and short-term investments at quarter-end. Bilibili shares were trading at US$18.24, up 2.8% after the earnings announcement. 

Hyperliquid Strategies Rises 1.8% as HYPE Treasury Expands to 29.3M Tokens 

Hyperliquid Strategies reported fiscal-year net income of $305.5 million, primarily reflecting $709.9 million in unrealised gains on HYPE tokens. The company more than doubled its HYPE treasury to approximately 29.3 million tokens and ended June with $149.9 million in cash and cash-like instruments and no debt.  

Total assets stood at $2.06 billion, including approximately $1.904 billion of HYPE tokens. The company raised about $646.6 million through its committed equity facility and subsequently deployed $773.4 million to acquire approximately 16.5 million HYPE tokens.  

It also repurchased about 5.8 million PURR shares for $27.8 million. Hyperliquid Strategies shares traded at $4.95, up 1.8% on the day. 

Canadian Solar Falls 3.2% Despite $1.2B Revenue and 82% QoQ Surge in Energy Storage Shipments 

Canadian Solar reported second-quarter revenue of approximately $1.2 billion, at the high end of its guidance, with gross margin of 13.9%. Energy storage shipments reached 3.7 GWh, up 82% quarter-over-quarter and 73% year-over-year, exceeding guidance. Solar module shipments recognised as revenue rose 25% sequentially to 3.1 GW but remained down 60% year-over-year. The company recorded a net loss of $77 million, compared with $32 million in the previous quarter.  

Its e-STORAGE contracted backlog stood at $3.5 billion, while its global battery-storage development pipeline reached 84 GWh. Canadian Solar expects third-quarter revenue of $1.3-$1.5 billion and maintained its 2026 U.S. shipment guidance. Shares traded at $15.67, down 3.2%. 

Lotus Technology Drops 4.5% as Revenue Rises 23%, but Losses Remain 

Lotus Technology reported first-half 2026 deliveries of 3,904 vehicles, up 39% year-over-year, with China deliveries increasing 60%. Revenue rose 23% to $268 million, while gross profit reached $26 million and gross margin expanded to 10%. Operating loss narrowed 63% to $97 million, while net loss declined 52% to $151 million.  

The company received $128 million in funding from Geely during the first half. It also completed the acquisition of Lotus UK and announced plans for a new V8 hybrid supercar. The Eletre X has launched in China and six international markets, with mainland European deliveries expected in the fourth quarter. Lotus Technology shares traded at $3.89, down 4.5%. 

Malibu Boats Rises 3.8% as Q4 Sales Jump 42.7% to $295.5M 

Malibu Boats reported fourth-quarter fiscal 2026 net sales of $295.5 million, up 42.7%, supported by $61.2 million from the newly acquired Saxdor segment, higher unit volumes and a favourable product mix. Unit volumes increased 19.2% to 1,456, while gross profit rose 59.4% to $52.2 million.  

Adjusted EBITDA jumped 72.7% to $33.9 million, and adjusted EPS increased 119% to $0.92. Full-year sales rose 13.3% to $914.6 million, although GAAP net income fell sharply to $1.7 million. The company refinanced its credit facility through July 2031 and authorised a $70 million share repurchase programme. For FY2027, Malibu expects sales of $1.08-$1.12 billion and adjusted EBITDA of $101-$109 million. Shares traded at $41.23, up 3.8%. 

Build-A-Bear Falls 5.4% as Revenue Outlook Drops to $500M-$525M 

Build-A-Bear reported second-quarter revenue of $115.3 million, down from $124.2 million, while pre-tax income declined to $11.6 million from $15.3 million. Diluted EPS fell to $0.70 from $0.94, while EBITDA declined to $15.2 million from $18.8 million.  

The company lowered its fiscal 2026 revenue outlook to $500-$525 million and pre-tax income outlook to $60-$68 million, citing weaker-than-expected second-quarter results and delays in certain wholesale opportunities.  

Tariffs and related costs were approximately $1 million, while higher promotional activity and occupancy costs pressured margins. Build-A-Bear had 674 global locations at quarter-end and returned $22.7 million through share repurchases and dividends during the first half. Shares traded at $28.76, down 5.4%. 

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Titan Machinery Drops 2.1% as Revenue Falls but Gross Margin Improves to 18.6% 

Titan Machinery reported second-quarter revenue of $496.4 million, down from $546.4 million a year earlier. Gross profit was $92.4 million, with gross margin expanding 150 basis points to 18.6%, helped by stronger equipment margins, lower aged inventory and a higher mix of parts and service revenue.  

Net loss increased to $9.2 million, or $0.40 per diluted share, while adjusted EBITDA declined to $4.6 million. Agriculture revenue fell to $310.2 million, with same-store sales down 8.4%, although its pre-tax loss narrowed to $3.3 million. Construction revenue increased, with same-store sales up 9.2%.  

Titan reaffirmed its profitability guidance while expecting Agriculture revenue to decline 15%-20% and Construction revenue to increase 5%-10%. Shares traded at $14.28, down 2.1%. 

Materialise Gains 2.3% as Q2 Revenue Rises 8.1% and Adjusted EBIT Guidance Increases 

Materialise reported second-quarter revenue of €70.1 million, up 8.1% year-over-year. Adjusted EBITDA increased 15.7% to €9.6 million, while adjusted EBIT rose 26.9% to €3.88 million. Net profit increased sharply to €3.33 million from €0.2 million a year earlier.  

The Medical segment led growth, with revenue increasing 12.2% to €36.9 million, while Manufacturing revenue rose 6.7% to €23.6 million. Software revenue declined 2.7% to €9.6 million. Operating cash flow improved to €8.15 million, and the company invested €2.9 million in share buybacks. Materialise maintained its full-year revenue guidance of €273-$283 million and raised adjusted EBIT guidance to €12-$14 million from €10-$12 million. Shares traded at €7.82, up 2.3%. 

The earnings season delivered a broadly mixed picture across banking, retail, technology, consumer and industrial companies. Strong revenue and profit growth supported gains in several retail and technology names, while weaker outlooks, higher spending, tariff-related effects and production transitions weighed on others. The varying share-price reactions also highlighted the importance of forward guidance and the quality of earnings alongside headline results. 

Source 

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• https://www.nyse.com/index 

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• https://www.spglobal.com/spdji/en/indices/equity/dow-jones-transportation-average/ 

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