Q4 2025 Canaccord Genuity Group Inc Earnings Call Transcript
Key Points
- Canaccord Genuity Group Inc (CCORF) achieved its highest quarterly revenue in the past 11 quarters, driven by strong performance in Wealth Management and Capital Markets divisions.
- The Wealth Management division saw client assets grow to a record $120 billion, with new records set in each region.
- The company completed three acquisitions in the UK and Crown Dependencies, enhancing its financial planning offerings and expanding its market presence.
- The Capital Markets division delivered its strongest revenue in three years, with significant contributions from the advisory segment.
- Adjusted pre-tax net income from the Wealth Management division rose 22% year over year, contributing to a full-year contribution of $149 million.
- Firm-wide profitability and earnings per share for the fourth fiscal quarter were lower on a year-over-year basis.
- Non-compensation expenses remained elevated, impacting profit margins, with a 24% increase in the three-month period.
- The Capital Markets division's profitability was affected by elevated non-compensation expenses, including professional fees related to regulatory matters.
- The timeframe for resolution of the US enforcement matter remains uncertain, impacting the company's regulatory outlook.
- Despite revenue growth, the company's operating margins were under pressure, with a decrease in pre-tax operating margin from 9% to 8.4% for fiscal 2025.
Good morning, ladies and gentlemen. Thank you for standing by. I would like to welcome everyone to the Canaccord Genuity Group Inc., fiscal 2025 fourth-quarter results conference call. (Operator Instructions) As a reminder, this conference call is being broadcast live online and recorded.
I would not like to turn the conference call over to Mr. Dan Daviau, Chairman and CEO. Please go ahead, Mr. Daviau.
Thank you, operator, and thanks to everyone joining us for today's call. I'm joined by Nadine Ahn, our Chief Financial Officer.
Today's remarks are complementary to our earnings release, MD&A, and supplementary financials, copies of which have been made available for download on SEDAR+ and on the Investor Relations section of our website, cgf.com.
Within our updates, certain reported information has been adjusted to exclude significant items to provide a more transparent and comparative view of our operating performance. These adjusted items are
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