Air Canada has beaten EPS estimates in three of its last four reported quarters. Its September-quarter results will show whether that streak continues as analysts raise their forecasts and the airline adds winter capacity.
Air Canada (TSX: AC.TO) is scheduled to report results after markets close on October 29, 2026, for the quarter ended September 30. One earnings calendar puts its estimate at C$0.54 per share. A separate earnings-trends feed, based on 11 analysts, puts consensus at C$1.03. That’s a wide gap, so check which estimate your data provider uses before treating either figure as the benchmark. The trends feed also forecasts revenue of $6.67 billion, up 15.6% from a year earlier. Air Canada’s stock page has the company’s earnings history and other investor data.
Recent earnings trend
Advertisement
Air Canada
AC.TO
AC.TO
Air Canada
WealthAwesomeMarket cap
$5.34B
P/E
14.5x
52W high
$31.45
52W low
$16.45
1W change
-4.00%
Beta
1.63
Analyst Price Targets
Based on analyst covering AC · as of Oct 26, 2026
Wall Street analysts forecast AC stock price to rise 56.9% over the next 12 months.
Consensus
BullishBased on avg. target vs last close (formal rating unavailable for Canadian listings)
Avg. Target
C$33.12
+56.9% Upside
Previously C$33.59 on Oct 23, 2026
Current Price
C$21.11
Last close
Targets are snapshotted when they change. Unchanged figures keep their original date. Not financial advice.
Wealth Awesome Price Forecast
WA ModelStatistical 90-day price range based on AC's historical volatility
30-Day Vol
41.6%
Annualized
90-Day Vol
42.8%
Annualized
Trend (90d)
-50.0%
Annualized drift
90d Mean
C$17.66
Expected price
| Horizon | Expected | 68% Range (1σ) |
|---|---|---|
| 30 trading days | C$19.89 | C$17.23 – C$22.96 |
| 60 trading days | C$18.74 | C$15.30 – C$22.96 |
| 90 trading days | C$17.66 | C$13.77 – C$22.64 |
Methodology: Range is calculated using 30-day realized volatility via geometric Brownian motion (log-normal model). 68% band = ±1σ, 95% band = ±2σ. This is a statistical model, not a prediction. Past volatility does not guarantee future results. Not financial advice.
Advertisement
Analyst coverage: 11 analyst(s) cover this name; upcoming EPS consensus is available.
Beat estimates in 3 of the last 4 comparable quarter(s).
| Fiscal period | Report date | Actual EPS | Estimate | Surprise |
|---|---|---|---|---|
| 2026-09-30 | 2026-10-29 | — | 0.5400 | — |
| 2026-06-30 | 2026-08-11 | 0.4000 | 0.1500 | +166.7% |
| 2026-03-31 | 2026-05-07 | -0.0500 | -0.4400 | +88.6% |
| 2025-12-31 | 2026-02-12 | 0.6500 | 0.3000 | +116.7% |
| 2025-09-30 | 2025-11-04 | 0.7500 | 0.7900 | -5.1% |
| 2025-06-30 | 2025-07-28 | 0.6000 | 0.7000 | -14.3% |
Advertisement
Investor takeaway: Air Canada’s recent earnings results are encouraging, but the conflicting estimates make it hard to pin down the bar for this quarter. The airline beat estimates in three of its last four quarters, including C$0.40 versus C$0.15 in June. This report will show whether earnings growth is backed by stronger revenue and operations. Investors should also consider the airline’s thin profit margin as it expands its winter schedule and cargo network.
C$1.03 EPS consensus—up from C$0.81 a month ago
The trends feed’s C$1.03 estimate is based on 11 analysts, up from C$0.81 a month ago. It implies 36.7% growth from the year-ago EPS of C$0.75. But an earnings calendar lists a separate estimate of C$0.54. Air Canada has beaten estimates in three of its last four quarters, so check which consensus your data provider uses when reviewing the results.
Bull case
The trends feed’s EPS consensus has climbed from C$0.81 to C$1.03 in the past 30 days. Eight analysts raised their estimates, and none lowered theirs. The feed forecasts EPS growth of 36.7% from a year ago, alongside revenue growth of 15.6%.
Air Canada has expanded its winter route schedule and added freighter service to Amsterdam, Monterrey and Panama City. Cargo revenue rose 28.4% year over year in the second quarter, according to the supplied news context. These updates point to activity in both passenger travel and cargo. The September results will show how much that activity contributed to revenue and profit.
Bear case
Airlines face changing travel demand and operating costs. Air Canada’s supplied financial data shows a profit margin of just 1.82%. The shares closed at C$21.11 on October 23, below their 50-day moving average of C$26.66 and 200-day average of C$22.27. They were down 23.57% over the month. These figures don’t predict the earnings result, but they show the cautious market backdrop. The gap between the C$0.54 calendar estimate and the C$1.03 trends consensus is another reason to check the source before using either as the benchmark.
Best next step
Keep exploring this topic
If you want to go deeper, these are the most useful follow-up pages and tools for this topic.
Broker comparison
Best trading platforms in Canada
Compare $0-commission brokers before you act on a ticker story.
Safe cash
Best GIC rates in Canada
If the story makes you want to de-risk, compare guaranteed rates next.
HISA roundup
Best high-interest savings accounts
Keep dry powder in a no-fee savings account instead of chequing.
TFSA room
Check TFSA contribution room
Shelter the next contribution before you buy.
Advertisement
Wealth Awesome
Timely coverage of Canadian stocks, earnings, dividends, and market movers for DIY investors. Stories are checked against exchange data and public filings.
View Full Profile →✅ Reviewed by Certified Financial Professionals
This content has been reviewed by CFA® charterholders and Certified Financial Planners (CFP®) with over a decade of experience in Canadian financial markets. All information is fact-checked against official Canadian sources and regulations.
Why these credentials matter: CFA® charterholders complete 900+ hours of rigorous study in investment analysis and ethics. CFP® professionals are held to the highest standards of financial planning competency and fiduciary duty in Canada.
⚠️ Professional Disclaimer
This content is for educational purposes only and should not be considered personalized financial advice. While our team brings professional expertise, individual circumstances vary. For personalized guidance, consult with a qualified financial advisor, tax professional, or mortgage specialist.
