The earnings call highlighted record net income and strong earnings growth, with improvements in return on equity and positive operating leverage across the bank. However, challenges remain in the Canadian market with higher provisions for credit losses and macroeconomic uncertainty. Despite these challenges, the overall sentiment is positive due to strong financial performance and strategic progress.

Company Guidance

During the BMO Financial Group's Q3 2025 earnings call, the company reported a strong financial performance with several key metrics highlighted. Earnings per share increased by 22% to $3.23, and net income reached a record high of $2.4 billion. Pre-provision pretax earnings rose 13% to $4 billion, driven by contributions from all operating groups. The CET1 ratio stood robust at 13.5%, supporting share buybacks and client growth. Return on equity improved to 12%, and year-to-date revenue growth was 12%, with PPPT up 19% and all-bank operating leverage at 4.7%. These results were achieved amid a modest growth environment in Canada and resilience in the U.S. economy, despite higher interest rates and tariffs. BMO continues to focus on ROE rebuild strategies, capital optimization, and sustainable growth across its businesses.

Record Net Income and Earnings Per Share Growth

Third quarter net income of $2.4 billion was the highest on record, and earnings per share increased 22% to $3.23.

Strong Pre-Provision Pretax Earnings

Pre-provision pretax earnings increased by 13% to $4 billion, with positive contributions from every operating group.

Positive Operating Leverage for Six Consecutive Quarters

The bank achieved positive operating leverage for six consecutive quarters, with an all-bank operating leverage of 4.7% year-to-date.

Improvement in Return on Equity

Return on equity improved to 12% for the quarter, driven by various strategic initiatives, including U.S. P&C improvement and capital optimization.

Strong Performance in Wealth Management

BMO Wealth Management achieved record revenue in Wealth and Asset Management, with continued growth in net new assets.

Positive U.S. P&C Results

U.S. P&C net income increased by 42%, with strong PPPT growth of 10% and positive operating leverage of 5%.

Bank Of Montreal (TSE:BMO) Earnings, Revenues Date & History

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TSE:BMO Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Dec 04, 2025	2025 (Q4)	2.96 / -	1.9	―	―	―
Aug 26, 2025	2025 (Q3)	2.98 / 3.23	2.64	22.35% (+0.59)
May 29, 2025	2025 (Q2)	2.53 / 2.62	2.59	1.16% (+0.03)
Feb 25, 2025	2025 (Q1)	2.41 / 3.04	2.56	18.75% (+0.48)
Dec 05, 2024	2024 (Q4)	2.38 / 1.90	2.81	-32.38% (-0.91)
Aug 27, 2024	2024 (Q3)	2.76 / 2.64	2.78	-5.04% (-0.14)
May 29, 2024	2024 (Q2)	2.77 / 2.59	2.93	-11.60% (-0.34)
Feb 27, 2024	2024 (Q1)	3.02 / 2.56	3.22	-20.50% (-0.66)
Dec 01, 2023	2023 (Q4)	2.85 / 2.81	3.04	-7.57% (-0.23)
Aug 29, 2023	2023 (Q3)	3.13 / 2.78	3.09	-10.03% (-0.31)

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

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Missed

TSE:BMO Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Aug 26, 2025	C$157.78	C$165.16	+4.68%
May 29, 2025	C$145.55	C$146.25	+0.48%
Feb 25, 2025	C$139.17	C$145.76	+4.74%
Dec 05, 2024	C$129.72	C$135.12	+4.16%

Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.