Q4 2025 Power Corporation of Canada Earnings Call Transcript

Mar 19, 2026 / 12:00 PM GMT

Release Date Price: C$63.83 (-4.00%)

Transcript

Key Points

Positve

Power Corporation of Canada (PWCDF) reported strong adjusted net earnings of $867 million for Q4 2025, up 5% year over year.
Great West's contribution to Power's adjusted net earnings rose 13% year over year, with a 10% increase in its quarterly dividend.
IGM's contribution to adjusted earnings increased by 22% year over year, with a 10% increase in its quarterly dividend.
Power Corporation of Canada (PWCDF) experienced strong adjusted net asset value growth, up 42% year over year.
The company has a strong cash position, ending Q4 with $2.2 billion, and actively returned capital to shareholders through share buybacks and dividends.

Negative

GBL's contribution to Power's adjusted net earnings resulted in a net loss of $15 million due to fair value losses.
Power Sustainable reported an adjusted loss of $21 million, driven by operating losses related to energy infrastructure.
Corporate operations and other lines saw increased losses due to foreign currency translation and higher employee compensation costs.
The discount to net asset value remains at 20%, indicating a gap between market valuation and intrinsic value.
The fundraising environment for alternative investment platforms remains challenging, impacting growth potential.

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

POW.TO - Power Corporation of Canada
Q4 2025 Power Corporation of Canada Earnings Call
Mar 19, 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 4th quarter and year-end 2025 earnings conference call.

At this time, all lines are in a 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.

You will hear a tone acknowledging your request.

If anyone has any difficulties hearing the conference, please press star, then 0 for operator assistance at any time.

I would like to remind everyone that this call is being recorded on Thursday, March 19, 2026.

I would now like to turn the conference over to Mr

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