CIBC's Q4 2024 earnings call showcased strong financial performance, robust capital position, and leadership in digital banking, reflecting positive sentiment. However, challenges in the U.S. commercial portfolio and elevated regulatory capital requirements were highlighted as concerns.

Company Guidance

During the CIBC Q4 2024 earnings call, the company reported impressive financial metrics, showcasing strong performance and strategic growth. The bank achieved net earnings of $7.3 billion for fiscal 2024, reflecting a 10% increase in earnings per share to $7.40. Revenues rose by 10% to $25.6 billion, driven by margin expansion, balance sheet growth, and higher fee-based income, resulting in pre-provision pretax earnings of $11.3 billion, up 11%. CIBC's capital strength was evidenced by a CET1 ratio of 13.3%, facilitating a buyback of 5 million shares and a dividend increase of 8% or $0.07 per share. Return on equity (ROE) improved to 13.7%, up 30 basis points from the previous year, despite a higher capital buffer. The bank outlined strategic priorities to enhance its mass affluent private wealth franchise, digital banking offerings, and connected platform, while also focusing on enabling and protecting the bank with new AI technologies. Looking ahead to 2025, CIBC anticipates mortgage growth and consumer spending to accelerate, with an expectation of continued economic growth leading to increased commercial loan demand.

Strong Financial Performance

CIBC reported net earnings of $7.3 billion for fiscal 2024, with earnings per share of $7.40, up 10% year-over-year. Revenues reached $25.6 billion, also up 10%, driven by margin expansion and higher fee-based income.

Record Revenue and Positive Operating Leverage

Pre-provision pretax earnings were $11.3 billion, up 11%, supported by record revenue performance and positive operating leverage.

Capital Strength and Share Buyback

CIBC maintained a robust capital position with a CET1 ratio of 13.3%, bought back 5 million shares, and announced an 8% increase in quarterly dividend.

Digital Banking Leadership

CIBC was ranked #1 by Service Score for delivering the best mobile banking experience among Canada's big banks for the seventh time in eight years.

Wealth Management Growth

In the U.S., client AUM flows increased by 43%, marking a new record supported by the addition of new relationship managers.

Strong Credit Portfolio Performance

Total provision for credit losses was $419 million in Q4, down from $483 million last quarter, with allowance remaining flat.

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Canadian Bank of Commerce (CM) 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

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CM Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Feb 27, 2025	2025 (Q1)	1.36 / -	1.26	―	―	―
Dec 05, 2024	2024 (Q4)	1.24 / 1.33	1.093	21.66% (+0.24)
Aug 29, 2024	2024 (Q3)	1.21 / 1.34	1.058	26.97% (+0.29)
May 30, 2024	2024 (Q2)	1.15 / 1.22	1.183	2.94% (+0.03)
Feb 29, 2024	2024 (Q1)	1.16 / 1.26	1.35	-6.70% (-0.09)
Nov 30, 2023	2023 (Q4)	1.06 / 1.09	0.967	12.95% (+0.13)
Aug 31, 2023	2023 (Q3)	1.17 / 1.06	1.287	-17.84% (-0.23)
May 25, 2023	2023 (Q2)	1.13 / 1.18	1.232	-3.95% (-0.05)
Feb 24, 2023	2023 (Q1)	1.19 / 1.35	1.42	-4.90% (-0.07)
Dec 01, 2022	2022 (Q4)	1.20 / 0.97	1.173	-17.51% (-0.21)

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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CM Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Dec 05, 2024	$63.62	$66.58	+4.65%
Aug 29, 2024	$53.94	$56.89	+5.47%
May 30, 2024	$45.93	$49.38	+7.51%
Feb 29, 2024	$44.58	$45.57	+2.22%

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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