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Canada's Power Corporation Q3 adjusted net earnings rise driven by Great-West Lifeco, IGM Financial

By Reuters News


Overview

  • Canada financial holding company reported Q3 adjusted net earnings rose yr/yr

  • Q3 net earnings increased to $1,006 mln from $703 mln a year ago

  • Adjusted net asset value per share rose 32% from end-2025, driven by public holdings


Outlook

  • Company did not provide specific guidance for the current quarter or full year


Result Drivers

  • PUBLIC COMPANY PERFORMANCE - Growth in adjusted net asset value per share was primarily driven by publicly traded operating companies, notably Great-West Lifeco and IGM Financial

  • RETIREMENT AND WEALTH MOMENTUM - Great-West's adjusted net earnings increased due to continued momentum in Retirement and Wealth businesses and robust Capital Solutions new business growth, partially offset by unfavorable insurance experience in Canada

  • ASSET MANAGEMENT GROWTH - IGM Financial's results benefited from a step acquisition gain and strong operating performance in wealth and asset management, with record assets under management and advisement


Company press release:


Key Details

Metric

Beat/Miss

Actual

Consensus Estimate

Q3 Adjusted Net Asset Value Per Share

C$113.28


Analyst Coverage

  • The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 5 "strong buy" or "buy", 5 "hold" and no "sell" or "strong sell"

  • The average consensus recommendation for the life & health insurance peer group is "buy"

  • Wall Street's median 12-month price target for Power Corporation of Canada is C$104.00, about 10% above its November 10 closing price of C$94.57

  • The stock recently traded at 14 times the next 12-month earnings vs. a P/E of 14 three months ago


Reuters Recommended Reads

  • Nov 9 - Canada's IA Financial Q3 adjusted EPS beats estimates

  • Nov 10 - Canada's Helios Fairfax Partners Q3 net profit, investment income fall

  • Nov 9 - Affiliated Managers Group posts record AUM


For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.


(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)

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