TORONTO — A slew of Canadian companies report their second-quarter earnings this week. Here are five sectors to watch:
Oil and gas: A number of oilpatch companies that have been battered by the slump in crude prices are out with their results this week. They include Imperial Oil, Suncor, Cenovus, Enbridge and TransCanada. The price of oil has slumped below the US$50 mark in recent days, grim news for Canada's oil companies, not to mention the Canadian dollar.
Food: Restaurant Brands International, the owner of Tim Hortons and Burger King, reports its second-quarter results on Monday, one of several Canadian food/restaurant giants reporting over the week. Maple Leaf Foods, the country's largest food producer, and baked-goods giant George Weston are also out with their results on Thursday and Friday respectively. Maple Leaf reported a profit in the first quarter as it neared the completion of a long-term plan to replace old meat-processing plants with modern facilities.
Media: Torstar is out with results on Wednesday, followed by Quebecor a day later. Quebecor recently announced its intention to make a bid for an NHL expansion team and return the Nordiques to Quebec City.
Gold: Some big Canadian gold miners report this week with the price of the precious metal in its worst slump in years. On Wednesday, Agnico-Eagle Mines is out with results, as are Detour Gold and Kinross Gold. Goldcorp Inc. will have its results on Thursday.
Jets: One flies them, the other builds them. WestJet is out with its Q2 results on Tuesday as the airline's pilots currently vote on whether to unionize, while struggling Bombardier reports on Thursday. The Montreal aircraft-maker's widely traded Class B shares have been in a dismal slump, falling to their lowest level in two decades last week as global demand for business aircraft wanes. WestJet, however, a Bombardier customer, has publicly thrown its support behind the company.
The Canadian Press