TMX caps stronger 2020 with fourth-quarter profits growing to $71.8 million

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TORONTO — TMX Group Ltd. reported a fourth-quarter profit of $71.8 million, which grew from a profit of $47.5 million in the same quarter a year earlier.

The company, which operates the Toronto Stock Exchange, says its profit for the quarter amounted to $1.26 per diluted share. That’s up from a profit of 84 cents per diluted share, which included a non-cash impairment charge of 32 cents per share.

Revenue totalled $219.5 million, up from $202.8 million.

On an adjusted basis, TMX says it had a profit of $81.3 million, compared with a profit of $74.3 million from the same time a year earlier.

TMX had an adjusted profit of $1.43 per diluted share, which grew from a profit of $1.31 per diluted share.

Analysts on average had expected revenue of $215 million and a profit of $1.45 per share for the quarter, according to financial data firm Refinitiv.

“TMX’s 2020 results … serve as strong affirmation of the vitality of Canada’s capital markets ecosystem and the crucial role that healthy, vibrant public markets play in fuelling a resilient and competitive world-class economy,” stated CEO John McKenzie.

“While significant challenges remain on the near-term horizon across all industries and in our business environment due to the COVID-19 pandemic, we move along into 2021 clear in purpose as we work to advance our global growth strategy and build Canada’s markets stronger for all of our stakeholders into the future.”

For the full-year, TMX says its adjusted profit was $5.88 per diluted share on $865.1 million of revenues, compared with $5.31 per share on $806.9 million in 2019.

TMX’s quarter and fiscal year ended Dec. 31.

Companies in this story: (TSX:X)

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