The earnings call demonstrated strong financial performance, particularly in Wealth Management and Capital Markets, with significant contributions from the HSBC Canada acquisition. However, challenges such as rising unemployment, economic concerns, and increasing delinquencies were notable issues. Despite these challenges, the bank has shown resilience and strategic growth, especially in Wealth Management and Capital Markets, along with a strategic focus on capital deployment and growth initiatives.

Company Guidance

During the RBC Q4 2024 earnings call, the bank reported earnings of $4.2 billion, with adjusted earnings of $4.4 billion, reflecting an 18% year-over-year increase. The acquisition of HSBC Canada contributed $318 million to adjusted earnings. The bank achieved an all-bank operating leverage of 7% or 4% on an adjusted basis, while maintaining provisions for credit losses on impaired loans at 26 basis points. RBC's fiscal year 2024 ended with total earnings of $16.2 billion and adjusted earnings surpassing $17 billion, culminating in a strong ROE of 14.4% or an adjusted ROE of 15.5%. The bank's CET1 ratio stood at 13.2%, with $5 billion in excess capital over a 12.5% level. Notably, RBC added over 600,000 clients across its Canadian banking business, benefiting from strategic partnerships and innovative client value propositions, including partnerships like the one with Taylor Swift's The Eras Tour in Canada. Additionally, RBC ranked highest in the 2024 J.D. Power Canada Retail Banking Satisfaction Study. Looking forward, RBC anticipates maintaining a medium-term objective of over 16% ROE underpinned by earnings growth and capital deployment, while forecasting Canadian economy challenges, such as rising unemployment and subdued business conditions, with potential easing from Bank of Canada interest rate cuts.

Strong Q4 Earnings Growth

Reported fourth quarter earnings of $4.2 billion, with adjusted earnings of $4.4 billion up 18% year-over-year.

Record Achievement in Wealth Management

Global Wealth Advisory businesses reached $2 trillion of assets under administration for the first time, with Canadian Wealth management AUA increasing 26% from last year.

HSBC Canada Acquisition Benefits

Acquisition of HSBC Canada contributed $265 million to earnings this quarter, with realized run rate savings of over $400 million.

Capital Markets Performance

Achieved record fourth quarter revenue in both Global Markets and Corporate Investment Banking, with a pre-provision pretax earnings increase of 14% from last year.

Dividend Increase

Announced a $0.06 or 4% increase in quarterly dividend.

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Royal Bank Of Canada (TSE:RY) Earnings, Revenues Date & History

The upcoming earnings date is based on a company’s previous reporting, and may be updated when the actual date is announced

Daily Earnings Calendar >

TSE:RY Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Aug 22, 2018	2018 (Q3)	- / 2.10	1.83	14.75% (+0.27)	―	―
Nov 28, 2018	2018 (Q4)	- / 2.20	1.88	17.02% (+0.32)	―	―
Feb 22, 2019	2019 (Q1)	- / 2.15	2.13	0.94% (+0.02)	―	―
May 23, 2019	2019 (Q2)	- / 2.24	2.06	8.59% (+0.18)	―	―
Aug 21, 2019	2019 (Q3)	- / 2.26	2.14	5.61% (+0.12)	―	―
Dec 04, 2019	2019 (Q4)	- / 2.22	2.24	-0.89% (-0.02)	―	―
Feb 21, 2020	2020 (Q1)	- / 2.44	2.19	11.42% (+0.25)	―	―
May 27, 2020	2020 (Q2)	- / 1.03	2.237	-53.96% (-1.21)	―	―
Aug 26, 2020	2020 (Q3)	- / 2.23	2.26	-1.33% (-0.03)	―	―
Dec 02, 2020	2020 (Q4)	- / 2.23	2.22	0.45% (<+0.01)	―	―

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.

Beat

Missed

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TSE:RY Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Dec 04, 2024	C$175.80	C$176.26	+0.26%
Aug 28, 2024	C$155.29	C$158.67	+2.18%
May 30, 2024	C$138.50	C$145.68	+5.19%
Feb 28, 2024	C$127.63	C$127.34	-0.22%

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.

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