TD Bank delivered strong financial performance with significant revenue growth and strategic achievements in Q3 2025. However, elevated expenses related to AML remediation and governance pose challenges. Despite increased impaired loans, the bank demonstrated resilience with a robust credit performance.

Company Guidance

During the TD Bank Group's Q3 2025 earnings call, the bank reported strong financial performance with earnings of $3.9 billion and earnings per share (EPS) of $2.20. The bank achieved a positive operating leverage, driven by a 10% revenue growth, which offset increased expenses related to governance, control costs, and business growth investments. Impaired provisions for credit losses (PCLs) decreased quarter-over-quarter, showcasing robust credit performance, and the bank added $600 million in reserves for policy and trade uncertainty. The Common Equity Tier 1 (CET1) ratio stood at 14.8% at the end of the quarter. Canadian Personal and Commercial Banking saw record revenue and loan volumes, with residential secured lending volumes surpassing $400 billion. U.S. retail banking exhibited core loan growth of 2% year-over-year, while U.S. bank card balances increased by 12%. The wealth management sector reported a 12% increase in total client assets, and wholesale banking generated over $2 billion in revenue for the third consecutive quarter. Additionally, TD Bank has been actively implementing a strategic relationship with Fiserv to streamline its portfolio and reduce costs, further enhancing financial performance.

Strong Earnings and Revenue Growth

TD Bank delivered a strong Q3 2025 with earnings of $3.9 billion and EPS of $2.20. Revenue grew 10% year-over-year driven by higher fee income and trading-related revenue.

Positive Operating Leverage

TD achieved positive operating leverage this quarter, reflecting strong revenue growth that offset elevated expenses.

Record Achievements in Canadian Banking

Canadian Personal and Commercial Banking delivered record revenue, earnings, deposits, and loan volumes. RESL volumes surpassed $400 billion.

Progress in U.S. Balance Sheet Restructuring

Significant progress was made in U.S. balance sheet restructuring with a 10% asset reduction target achieved, and the investment portfolio repositioning completed.

Launch of TD AI Prism

TD launched TD AI Prism to enhance client personalization and support growth through AI-driven insights.

Toronto Dominion Bank (TSE:TD) Earnings, Revenues Date & History

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TSE:TD Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Dec 04, 2025	2025 (Q4)	2.01 / -	1.72	―	―	―
Aug 28, 2025	2025 (Q3)	2.06 / 2.20	2.05	7.32% (+0.15)
May 23, 2025	2025 (Q2)	1.79 / 1.97	2.04	-3.43% (-0.07)
Feb 27, 2025	2025 (Q1)	1.96 / 2.02	2	1.00% (+0.02)
Dec 05, 2024	2024 (Q4)	1.80 / 1.72	1.83	-6.01% (-0.11)
Aug 22, 2024	2024 (Q3)	2.07 / 2.05	1.99	3.02% (+0.06)
May 23, 2024	2024 (Q2)	1.85 / 2.04	1.94	5.15% (+0.10)
Feb 29, 2024	2024 (Q1)	1.93 / 2.00	2.23	-10.31% (-0.23)
Nov 30, 2023	2023 (Q4)	1.90 / 1.83	2.18	-16.06% (-0.35)
Aug 24, 2023	2023 (Q3)	2.04 / 1.99	2.09	-4.78% (-0.10)

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:TD Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Aug 28, 2025	C$105.01	C$100.27	-4.51%
May 23, 2025	C$91.85	C$91.95	+0.11%
Feb 27, 2025	C$83.69	C$84.28	+0.71%
Dec 05, 2024	C$76.77	C$71.33	-7.08%

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.