07:20 AM EDT, 05/08/2025 (MT Newswires) -- Canadian Tire ( CDNTF ) (CTC-A.TO, CTC.TO) on Thursday reported higher first-quarter normalized income that also delivered a strong beat.

Normalized net income rose to $111.4 million, or $2 per normalized share, from $59.9 million, or $1.08 per share, in the prior year period. The result beat the consensus analysts' estimate of $1.22 per share, according to Capital IQ.

Consolidated revenue, which increased 3.7% to $3.45 billion in the quarter, missed the analysts' forecast of $3.54 billion.

Canadian Tire ( CDNTF ) will pay a regular quarterly dividend of $1.78 per share on Sept. 1.

The company also provided an update on its True North growth strategy, which was launched during the quarter. A new partnership deal has been inked with WestJet Rewards, in addition to RBC coming on board as a strategic Canadian Tire ( CDNTF ) rewards partner (announced late March). Both partnerships are expected to launch in 2026. This year, the company also plans to renovate more than 30 Canadian Tire ( CDNTF ) stores and 18 Mark's stores.

"We had a strong quarter of sales and earnings growth, as we controlled the controllables, elevated customer loyalty, and delivered the great value and seasonal products customers were seeking. It's clear Canadians are choosing CTC," said Chief Executive Greg Hicks.