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August 23, 2024CANADA FINANCIAL STATISTICS FOR ENTERPRISES, Q2 2024 In Q2 2024, Canadian enterprise net income before taxes (seasonally adjusted) was $163.245 billion. All broad industry categories except central credit unions reported positive income before taxes in Q2 2024 . The largest values of net income before taxes were reported in miscellaneous financial intermediation ($17.145 billion), real estate ($12.256 billion), banking ($10.784 billion), construction ($10.751 billion), securities/exchanges/portfolio management ($9.555 billion) and oil/gas extraction ($7.779 billion).
Compared with Q1 2024, net income before taxes increased by $2.415 billion across all industries. Net income shrank by $0.894 billion for financial/insurance industries. Net income for non-financial industries grew by $3.309 billion. Miscellaneous financial intermediation and pharmaceutical, soap, agricultural chemicals reported the largest gains in net income before taxes. Banking reported the largest decline in net income before taxes at $1.823 billion.
Measured as a share of revenue, income before taxes averaged 10.8% across all industries; 23.9% for financial industries and 8.7% for non-financial industries. Income as a share of revenues was up for non-financial industries and down for financial industries.
Measured as a share of revenue, income before taxes was highest in miscellaneous financial intermediation (77.3% of revenues), followed by securities/exchanges/portfolio management (57.1%) and other non-depository credit intermediation (41.9%). Outside of financial industries, income before taxes as a share of revenue was highest in: real estate (37.7%), education/health/social assistance (27.6%, including daycares) and rentals/leasing (17.0%).
Source: Statistics Canada. Table 33-10-0226-01 Quarterly balance sheet and income statement, by industry, seasonally adjusted (x 1,000,000)
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