Power Corporation raises third-quarter profit 43% to C$1.006 billion
Key Facts
Power Corporation of Canada reported net earnings attributable to participating shareholders of C$1,006 million in the third quarter of 2026, up 43% from C$703 million in the same period of 2025. Earnings per share were C$1.60, compared with C$1.10 a year earlier. Chief Executive James O’Sullivan said the results reflect “continued execution of our value-creation strategy and the benefits of active ownership, with strong financial performance across our group and growth in net asset value.” The company reported results on November 11 after the market close. It also said assets under management and advisement, including strategic investments, rose to C$645.6 billion at September 30.
Assets stood at C$645.6 billion at the end of September, compared with C$622.1 billion at the end of June and C$562.4 billion at September 30, 2025. The measure includes strategic investments and covers the group and related companies as defined by the company. The quarterly and annual comparisons show an increase in the assets included in the group’s measure. These figures provide context for the scale of the businesses in which the company operates, alongside its quarterly earnings result.
Adjusted net asset value per share was C$113.28 at September 30, up from C$85.77 on December 31, 2025. The company said the increase was 32.1%, attributing it mainly to publicly listed operating companies. This figure measures adjusted net asset value per share, not earnings per share for the quarter. It therefore provides a different measure from reported net earnings of C$1,006 million. O’Sullivan linked the quarter’s results to growth in net asset value, alongside the group’s financial performance.
At IGM Financial, net flows were C$3.4 billion in the third quarter of 2026, compared with C$2.4 billion in the third quarter of 2025. The subsidiary’s net earnings rose to C$487.5 million from C$298.1 million, an increase of 63.5% year over year. However, the current quarter’s results included a C$144.0 million after-tax, non-controlling-interest-adjusted step acquisition gain related to the purchase of Northleaf. The gain accounts for part of the reported earnings increase as an acquisition effect, alongside IGM’s other results. The subsidiary’s results remain part of the broader picture of the group’s performance, for which net earnings attributable to participating shareholders were reported separately.
Power Corporation said it had returned C$2.4 billion to shareholders through September 30, 2026. The amount comprised C$1.2 billion in dividends and C$1.2 billion through share repurchases. This comes alongside its announcement of a quarterly dividend of 66.75 cents per subordinate voting share. The dividend is payable on February 1, 2027, to shareholders of record on December 31, 2026. The schedule sets the payment date and record date for eligible shareholders, following the November results announcement.
The third-quarter results conference call was scheduled for November 12, 2026, at 8:00 a.m. Eastern time. In trading before the results announcement, PWCDF shares closed at US$66.59 on November 10. The available data did not include a documented daily trading range for the closing price. The closing price was for the November 10 session, before the results were published on November 11 after the market close. The results conference call is scheduled to give the company an opportunity to present the quarter’s results at the announced time.