Stock news for investors: Air Canada profit drops more than 50% in Q2 amid “challenging environment”

The company says its adjusted net income for the quarter ending June 30 was $117 million, up from $111 million last year. Adjusted earnings per share came in at $1.11 each, compared with $1.04 per share last year.

Revenue totalled $2.03 billion in the quarter, down from $2.2 billion in the same period last year. The Montreal-based manufacturer says the quarter saw a sharp increase in orders, including in its defence division, while service revenue also rose.  

The company reported a backlog of $16.1 billion at the end of the quarter, up $1.9 billion from the end of the previous quarter.

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Gildan Activewear Inc. reports US$137.9 million profit for second quarter

Gildan Activewear Inc. says its earnings rose in the second quarter as it reaffirmed its full-year guidance after considering the impact of tariffs. The clothing manufacturer, which reports in U.S. dollars, says it earned US$137.9 million in the quarter ending June 29, up from US$58.4 million in the same quarter last year. 

The Montreal-based company says its adjusted earnings worked out to US$145.9 million, up from US$124.7 million last year. It says adjusted earnings were 97 cents per diluted share, up from 74 cents per diluted share last year. Net sales totalled US$918.5 million in the quarter, up from US$862.2 million in the period last year. 

Gildan says in reaffirming its guidance after weighing the impact of tariffs along with the options available to it to mitigate the effects, including pricing and its flexible business model.

Trucking firm TFI sees second-quarter profit dip as market weakness persists

TFI International Inc. has reported a drop in second-quarter profit as weak demand took a toll on the volume of goods it hauls.