COMUNICADO: BMO Financial Group Reports Net Income of $1.25 Billion for Second Quarter of 2017 (3)

Publicado 24/05/2017 17:21:27CET

Non-GAAP Measures ----------------- (Canadian $ in millions, except as noted) Q2-2017 Q1-2017 Q2-2016 YTD-2017 YTD-2016 ---------------------------------------- ------- ------- ------- -------- -------- Reported Results Revenue 5,741 5,405 5,101 11,146 10,176 Insurance claims, commissions and changes in policy benefit liabilities (CCPB) (708) (4) (407) (712) (773) ----------------------------------------------------------------------------- ---- --- ---- ---- ---- Revenue, net of CCPB 5,033 5,401 4,694 10,434 9,403 Provision for credit losses (259) (173) (201) (432) (384) Non-interest expense (3,276) (3,379) (3,312) (6,655) (6,582) -------------------- ------ ------ ------ ------ ------ Income before income taxes 1,498 1,849 1,181 3,347 2,437 Provision for income taxes (250) (361) (208) (611) (396) -------------------------- ---- ---- ---- ---- ---- Net Income 1,248 1,488 973 2,736 2,041 EPS ($) 1.84 2.22 1.45 4.06 3.03 ====== ==== ==== ==== ==== ==== Adjusting Items (Pre-tax) Amortization of acquisition-related intangible assets (1) (43) (37) (40) (80) (83) Acquisition integration costs (2) (21) (22) (24) (43) (46) Cumulative accounting adjustment (3) - - - - (85) Restructuring cost (4) - - (188) - (188) --------------------- --- --- ---- --- ---- Adjusting items included in reported pre-tax income (64) (59) (252) (123) (402) =================================================== === === ==== ==== ==== Adjusting Items (After tax) Amortization of acquisition-related intangible assets (1) (34) (28) (31) (62) (64) Acquisition integration costs (2) (13) (14) (16) (27) (31) Cumulative accounting adjustment (3) - - - - (62) Restructuring cost (4) - - (132) - (132) --------------------- --- --- ---- --- ---- Adjusting items included in reported net income after tax (47) (42) (179) (89) (289) Impact on EPS ($) (0.08) (0.06) (0.28) (0.14) (0.45) ================ ===== ===== ===== ===== ===== Adjusted Results Revenue 5,741 5,405 5,101 11,146 10,260 Insurance claims, commissions and changes in policy benefit liabilities (CCPB) (708) (4) (407) (712) (773) ----------------------------------------------------------------------------- ---- --- ---- ---- ---- Revenue, net of CCPB 5,033 5,401 4,694 10,434 9,487 Provision for credit losses (259) (173) (201) (432) (384) Non-interest expense (3,212) (3,320) (3,060) (6,532) (6,264) -------------------- ------ ------ ------ ------ ------ Income before income taxes 1,562 1,908 1,433 3,470 2,839 Provision for income taxes (267) (378) (281) (645) (509) -------------------------- ---- ---- ---- ---- ---- Net income 1,295 1,530 1,152 2,825 2,330 EPS ($) 1.92 2.28 1.73 4.20 3.48 ====== ==== ==== ==== ==== ====

(1) These expenses were charged to the non-interest expense of the operating groups. Before and after- tax amounts for each operating group are provided on pages 13, 14, 15, 16, and 18 of our Second Quarter 2017 Report to Shareholders. (2) Acquisition integration costs related to F&C Asset Management plc (F&C) are charged to Wealth Management. Acquisition integration costs related to the acquired BMO Transportation Finance business are charged to Corporate Services, since the acquisition impacts both Canadian and U.S. P&C businesses. Acquisition costs are primarily recorded in non-interest expense. (3) Cumulative accounting adjustment recognized in other non-interest revenue related to foreign currency translation that largely impacted prior periods. (4) Restructuring cost is recorded in non-interest expense. Adjusted results and measures in this table are non-GAAP amounts or non-GAAP measures.

Caution Regarding Forward-Looking StatementsBank of Montreal's public communications often include written or oral forward-looking statements. Statements of this type are included in this document, and may be included in other filings with Canadian securities regulators or the U.S. Securities and Exchange Commission, or in other communications. All such statements are made pursuant to the "safe harbor" provisions of, and are intended to be forward-looking statements under, the United States Private Securities Litigation Reform Act of 1995 and any applicable Canadian securities legislation. Forward-looking statements may involve, but are not limited to, comments with respect to our objectives and priorities for fiscal 2017 and beyond, our strategies or future actions, our targets, expectations for our financial condition or share price, and the results of or outlook for our operations or for the Canadian, U.S. and international economies.

By their nature, forward-looking statements require us to make assumptions and are subject to inherent risks and uncertainties. There is significant risk that predictions, forecasts, conclusions or projections will not prove to be accurate, that our assumptions may not be correct and that actual results may differ materially from such predictions, forecasts, conclusions or projections. We caution readers of this document not to place undue reliance on our forward-looking statements as a number of factors could cause actual future results, conditions, actions or events to differ materially from the targets, expectations, estimates or intentions expressed in the forward-looking statements.

The future outcomes that relate to forward-looking statements may be influenced by many factors, including but not limited to: general economic and market conditions in the countries in which we operate; weak, volatile or illiquid capital and/or credit markets; interest rate and currency value fluctuations; changes in monetary, fiscal, tax or economic policy; the level of competition in the geographic and business areas in which we operate; changes in laws or in supervisory expectations or requirements, including capital, interest rate and liquidity requirements and guidance and the effect of such changes on funding costs; judicial or regulatory proceedings; the accuracy and completeness of the information we obtain with respect to our customers and counterparties; our ability to execute our strategic plans and to complete and integrate acquisitions, including obtaining regulatory approvals; critical accounting estimates and the effect of changes to accounting standards, rules and interpretations on these estimates; operational and infrastructure risks; changes to our credit ratings; political conditions, including changes relating to or affecting economic or trade matters; global capital markets activities; the possible effects on our business of war or terrorist activities; outbreaks of disease or illness that affect local, national or international economies; natural disasters and disruptions to public infrastructure, such as transportation, communications, power or water supply; technological changes; information and cyber-security; and our ability to anticipate and effectively manage risks arising from all of the foregoing factors.

We caution that the foregoing list is not exhaustive of all possible factors. Other factors and risks could adversely affect our results. For more information, please see the Enterprise-Wide Risk Management section on pages 79 to 112 of BMO's 2016 Annual Report, which outlines certain key factors and risks that may affect Bank of Montreal's future results. Investors and others should carefully consider these factors and risks, as well as other uncertainties and potential events, and the inherent uncertainty of forward-looking statements. Bank of Montreal does not undertake to update any forward-looking statements, whether written or oral, that may be made from time to time by the organization or on its behalf, except as required by law. The forward-looking information contained in this document is presented for the purpose of assisting our shareholders in understanding our financial position as at and for the periods ended on the dates presented, as well as our strategic priorities and objectives, and may not be appropriate for other purposes.

Assumptions about the performance of the Canadian and U.S. economies, as well as overall market conditions, and their combined effect on our business, are material factors we consider when determining our strategic priorities, objectives and expectations for our business. In determining our expectations for economic growth and financial services, we primarily consider historical economic data provided by the Canadian and U.S. governments, historical relationships between economic and financial variables, and the risks to the domestic and global economy. See the Economic Review and Outlook section of our Second Quarter 2017 Report to Shareholders.

INVESTOR AND MEDIA PRESENTATION

Investor Presentation Materials Interested parties are invited to visit our website at www.bmo.com/investorrelations [http://www.bmo.com/investorrelations] to review our 2016 Annual Report, quarterly presentation materials and supplementary financial information package.

Quarterly Conference Call and Webcast Presentations
Interested parties are also invited to listen to our quarterly conference call on Wednesday, May 24, 2017, at 2:00 p.m. (EST). At that time, senior BMO executives will comment on results for the quarter and respond to questions from the investor community. The call may be accessed by telephone at 416-641-2144 (from within Toronto) or 1-888-789-9572 Passcode: 5126346. A replay of the conference call can be accessed until Monday, August 28, 2017, by calling 905-694-9451 (from within Toronto) or 1-800-408-3053 and entering passcode 5740558.

A live webcast of the call can be accessed on our website at www.bmo.com/investorrelations [http://www.bmo.com/investorrelations]. A replay can also be accessed on the site.

(CONTINUA)

Mejora la comunicación de tu empresa con Europa Press Comunicación

Mejora la comunicación de tu empresa con Europa Press Comunicación

Esta web utiliza cookies propias y de terceros para analizar su navegación y ofrecerle un servicio más personalizado y publicidad acorde a sus intereses. Continuar navegando implica la aceptación de nuestra política de cookies -
Uso de cookies