Q4 2024 Power Corporation of Canada Earnings Call Transcript
Key Points
- Power Corporation of Canada (PWCDF) reported strong earnings growth, with adjusted net earnings from continuing operations up 20% year-over-year in Q4 2024.
- The company announced a 9% dividend increase, reflecting strong financial performance and confidence in future growth.
- Great-West Life achieved a 15% year-over-year increase in base earnings, marking the sixth consecutive quarter of growth.
- IGM Financial reported a 23% increase in shareholder earnings, driven by record quarter-end assets at IG Wealth and Mackenzie.
- Power Corporation of Canada (PWCDF) successfully executed a share buyback program, purchasing over 400 million shares in 2024, which contributed to an increase in net asset value (NAV).
- Power Sustainable reported fee-related losses and continued to face challenges in achieving profitability at the asset management level.
- GBL's contribution to adjusted net earnings declined year-over-year due to increased share losses from portfolio companies.
- The company faced a non-cash impairment charge of $87 million at LNPG due to an uncertain business and macroeconomic environment.
- Power Corporation of Canada (PWCDF) acknowledged that its alternative asset management platforms are not yet contributing significantly to earnings.
- The company continues to face a 24% discount to net asset value, which has not narrowed since the reorganization five years ago.
Good morning, ladies and gentlemen, and welcome to the Power Corporation fourth-quarter and full year 2024 earnings conference call. (Operator Instructions)
I would like to remind everyone that this call is being recorded on Thursday, March 20, 2025. The I would now like to turn the conference over to Mr. Jeffrey Orr, President and Chief Executive Officer of Power Corporation. Please go ahead.
Thank you, operator. Welcome, everyone. Thanks for joining us for our Q4 2024 results. It's our first call of 2025. And on the cover page, you'll notice our logo has got a little change to it.
We're actually celebrating the 100th anniversary of Power Corporation in 2025 and so fun to be here for that. So we'll move through with the presentation. You've got over pages 2 and 3 standard cautionary information -- or disclaimer, I should say, regarding forward-looking information and non-GAAP measures. Page 4, I'm joined here with Jake Lawrence for today's call, and we
| Access to All Earning Calls and Stock Analysis | |
| 30-Year Financial on one screen | |
| All-in-one Stock Screener with unlimited filters | |
| Customizable Stock Dashboard | |
| Real Time Insider Trading Transactions | |
| 8,000+ Institutional investors’ 13F holdings | |
| Powerful Excel Add-in and Google sheets Add-on | |
| All data downloadable | |
| Quick customer support | |
| And much more... |
Trustpilot
We'd love to learn more about your experiences on GuruFocus.com and how we can improve!
Take Survey
