Q1 2026 Power Corporation of Canada Earnings Call Transcript

May 13, 2026 / 12:00 PM GMT

Release Date Price: €48.08 (-0.64%)

Transcript

Key Points

Positve

Power Corporation of Canada (PWCDF) reported strong Q1 2026 results with adjusted net earnings of $905 million, up 15% year-over-year.
Great West's contribution to Power's adjusted net earnings increased by 21% year-over-year, with base ROE exceeding 19% for the first time.
IGM's contribution to adjusted earnings also rose by 21% year-over-year, with record high-ending AUM&A up 14% and strong net flows.
Power Corporation's net asset value per share increased by 23% year-over-year, with significant growth across all operating companies.
The company returned $650 million to shareholders through buybacks and dividends, exceeding the $500 million returned in Q1 2025.

Negative

Sigard's contribution to earnings was a loss of $5 million, down from a positive contribution of $37 million in the same quarter last year.
Power Sustainable reported a loss of $13 million due to lower asset management activities and operating losses on energy infrastructure assets.
Corporate Operations and Other reported a higher loss, partly due to higher dividends on non-participating preferred shares.
The alternative investment platforms faced challenges, with Sigard experiencing lower private equity gains.
The company is sitting on a large cash balance, which may indicate underutilization of capital or missed investment opportunities.

Refinitiv StreetEvents Event Transcript
E D I T E D V E R S I O N

POW.TO - Power Corporation of Canada
Q1 2026 Power Corporation of Canada Earnings Call
May 13, 2026 / 12:00PM GMT

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Presentation
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Unidentified_1 [1]
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Good morning, ladies and gentlemen, and welcome to the Power Corporation First Quarter 2026 Earnings Conference Call.

At this time, all lines are in listen-only mode.

Following the presentation, we will conduct a question-and-answer session.

Analysts who wish to join the question queue may press then 1 at any point throughout the call.

If anyone has difficulties hearing the conference, please press star then zero for operator assistance at any time.

I would like to remind everyone that this call is being recorded on Wednesday, May 13, 2026.

I would now like to turn the conference over to Mr. Steven Hung, Head of Investor Relations for Power Corporation. Please go

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