Canadian corporations reported operating profit of $205.6 billion in the fourth quarter, up $2.0 billion (+1.0%) from the third quarter. This increase was driven by the non-financial industries and supported by the financial industries. Compared with the same quarter one year earlier, Canadian corporations’ operating profit increased by $14.1 billion (+7.4%), reported Statistics Canada on Wednesday.
In the fourth quarter, operating profit for the non-financial industries rose by $1.3 billion (+1.3%) to $105.9 billion. Gains were recorded in 24 of 39 non-financial industries, said the federal agency, adding that the financial industries also reported higher operating profits in the fourth quarter, up by $638 million (+0.6%) to $99.8 billion. Quarterly gains were reported in 8 of 13 financial industries.
“The mining and quarrying (except oil and gas) industry recorded the strongest gain in operating profit in the fourth quarter, rising by $601 million (+28.8%) from the previous quarter. This increase was attributed to higher precious metal prices and stronger gold exports, driven by elevated safe-haven demand amid heightened global trade frictions and broader economic uncertainty,” said Statistics Canada.
“The primary metal and fabricated metal product and machinery manufacturing industry recorded a rise in operating profit, up $157 million (+4.0%) in the fourth quarter. This increase was supported by higher sales of primary metal products in the period.”
Consolidated results for the telecommunication industry, which includes their sports and media segments, recorded an increase in operating profit of $481 million (+14.2%) in the fourth quarter. This gain reflects stronger performance in those segments, with growth in advertising and subscriber revenues, said the report.
It said operating profit in the arts, entertainment and recreation, and accommodation and food services industry rose by $129 million (+5.0%), partly driven by stronger sales in special food services and drinking establishments.
“In the fourth quarter, operating profit for the banking and other depository credit intermediation industry increased by $2.0 billion (+6.8%). The gain was driven primarily by higher interest income (+7.1%), supported by an increase in interest revenues (+0.4%) and a decline in interest expenses (-2.5%). Non-interest income (+3.2%) also rose, largely reflecting stronger investment-related activities. The increases in interest income and non-interest income were partially offset by higher provisions for credit losses (+24.4%),” explained Statistics Canada.
Mario Toneguzzi
Mario Toneguzzi is Managing Editor of Canada’s Entrepreneur. He has more than 40 years of experience as a daily newspaper writer, columnist, and editor. He was named in 2021 and 2024 as one of the top business journalists in the world by PR News. He was also named by RETHINK to its global list of Top Retail Experts 2024, 2025 and 2026.
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