Q1: 2026-04-30 Earnings Summary

EPS of $2.05 beats by $0.05

 | Revenue of $1.27B (6.08% Y/Y) beats by $4.12M

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Vagn Sørensen

[Interpreted] Good morning, shareholders and guests. My name is Vagn Sorensen. I am the Chair of Board of Directors of Air Canada. Welcome to our Annual Meeting of Shareholders.

[indiscernible] Canada’s commitment to indigenous inclusion and reconciliation. Our network crosses many treaty lands as well as unceded and traditional territories of indigenous nations and governments on Turtle Island, that is North America. In that spirit, we recognize the ancestral and traditional lands of the indigenous people we fly over.

[Interpreted] In 2025, Air Canada was honored to support the return of 62 sacred and cultural indigenous artifacts from the Vatican. We carried them back on one of our aircraft. We’re meeting today only a few weeks after the tragic accident at LaGuardia Airport involving Air Canada Express Flight AC8646. On behalf of the Board of Directors, I would like to express our deepest condolences to the family, friends and colleagues of the 2 Jazz pilots who tragically lost their lives.

I also want to express our deepest condolences to the family, friends and colleagues of 2 Jazz pilots who tragically lost their lives. I also want to express our sincerest sympathies to the passengers, crew members and others who were injured or otherwise affected as well as our appreciation to everyone in our company, industry or otherwise, who helped at the time and in the days that followed.

[Interpreted] That tragedy has been felt by all of our Air Canada family. I invite you if you are able to stand and observe a moment

The latest Market Talks covering Energy and Utilities. Published exclusively on Dow Jones Newswires at 4:20 ET, 12:20 ET and 16:50 ET.

1508 ET – Oil futures retreat from overnight highs and settle lower with the market watching for the next move in the standoff between the U.S. and Iran while just a trickle of oil gets through the Strait of Hormuz. Brent crude for June delivery falls 3.4% to go off the board at $114.01 a barrel, bringing it closer to the $110.40 for the July contract. “On top of the expiration liquidation flush today, Brent also came under pressure after European Union economic data came in on the soft side,” Mizuho’s Robert Yawger says in a note, pointing to the below-estimate 0.1% rise in eurozone 1Q GDP. WTI settles down 1.7% at $105.07 a barrel.(anthony.harrup@wsj.com)

1309 ET – The European Central Bank’s decision to hold the interest rate at 2% makes perfect sense given the current uncertainty in markets, Morningstar strategist Michael Field said. Interest rate has been stable until a few months ago, but after the price of a barrel of oil spiked to $125, the situation has become more volatile. “The Governing Council will closely monitor the situation and follow a data-dependent and meeting-by-meeting approach to determining the appropriate monetary policy stance,” writes the European Central Bank in a press release. Investors have priced in 2-3 rate hikes as high as 2.5%-2.75%. Field says markets presumably will read the language in today’s statement positively.(julia.nasser@wsj.com)

0953 ET – ConocoPhillips says it is excluding Qatar from its production guidance for the current quarter, citing uncertainty around the war in the Middle East. The oil producer also cuts its full-year production outlook to account for the exclusion, now calling for production of 2.3 million to 2.33 million barrels of oil-equivalent per day this year. That compares with a prior outlook of 2.33 million to 2.36 million barrels of oil-equivalent per day. ConocoPhillips is off 1.8% in early trading after reporting lower 1Q earnings. (connor.hart@wsj.com)

MINNEAPOLIS — Minnesota Timberwolves star Anthony Edwards is expected to miss at least two weeks with a bone bruise and hyperextension in his left knee.

The injury occurred in Game 4 when Edwards landed awkwardly after contesting a shot. He was helped off the court in visible pain, sparking immediate concern among fans and analysts. An MRI confirmed no structural ligament damage, a significant relief, but the bone bruise requires careful rehabilitation to avoid long-term complications. The Timberwolves have listed him as week-to-week while emphasizing a cautious approach.

Shams Charania of ESPN reported the two-week minimum timeline, noting it positions Edwards for a potential return “at some point in the second round” if Minnesota advances. The Wolves currently lead the series, but Edwards’ absence has tested their depth against a resilient Nuggets team. Coach Chris Finch has praised the supporting cast while acknowledging the challenge of replacing Edwards’ scoring and athleticism.

The timeline aligns with typical recovery for bone bruises in athletes. These injuries involve trauma to the bone beneath cartilage and can cause significant pain and swelling. Hyperextension adds soft tissue strain, requiring progressive loading to restore strength and confidence. Edwards also manages patellar tendinitis in his right knee, adding complexity to his rehabilitation protocol.

Medical experts say bone bruises heal at varying rates depending on severity, location and individual factors. A two-week absence represents the optimistic end of the spectrum, with some cases requiring four to six weeks for full return to high-level competition. The Timberwolves’ medical staff, working with specialists at Mayo Clinic, will monitor progress through imaging and functional testing before clearing Edwards.

Edwards’ potential absence has major implications for Minnesota’s postseason hopes. As the team’s leading scorer and dynamic playmaker, he averages over 27 points per game in the playoffs. His ability to attack the rim and create for teammates has been central to the Wolves’ success. Without him, opponents can focus defensive attention on Karl-Anthony Towns and others, potentially slowing the offense.

Finch has adjusted lineups and strategies to compensate. Increased minutes for bench players and tactical tweaks have kept the team competitive, but the drop-off in explosiveness is noticeable. If the series extends or Minnesota advances, the coaching staff will carefully manage Edwards’ minutes upon return to avoid re-injury.

The injury occurred at a critical juncture in Edwards’ young career. At 24, he has emerged as one of the NBA’s brightest stars, with All-Star selections and playoff heroics. His absence tests the franchise’s depth and resilience as it aims for a deep postseason run. Team officials have expressed confidence in the roster’s ability to compete while prioritizing Edwards’ long-term health.

Fan reaction has been a mix of concern and optimism. Social media is filled with well-wishes and debates about return timelines. The Wolves’ playoff run has captivated Minnesota, with Edwards’ charismatic personality and highlight-reel plays endearing him to supporters. His potential return in the second round could provide a massive boost if the team reaches that stage.

Broader NBA implications include player load management and injury prevention. Edwards’ high-usage style and athleticism make him susceptible to lower-body injuries despite his youth. League-wide discussions about rest, scheduling and medical protocols continue as stars miss time in critical playoff moments. The Timberwolves’ handling of Edwards’ recovery could serve as a case study.

As rehabilitation progresses, the focus remains on incremental milestones. Initial rest and swelling reduction will give way to strength training, agility work and eventually on-court drills. Edwards’ competitive nature suggests he will push to return as soon as medically safe, but the organization will err on caution to protect his future.

The coming days will bring more clarity as the series unfolds and medical updates emerge. For now, the Timberwolves face a formidable challenge without their star, while Edwards works behind the scenes preparing for a potential heroic return. The two-week minimum provides a target, but playoff basketball’s unpredictable schedule could align favorably or extend his recovery window.

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