EarningsQ2 2026 Earnings Report
MX:POWN Q2 2026 EPS Results
Actual EPS$19.53
Consensus EPS$19.56
Beat/MissMissed by -$0.03
One Year Ago EPS$17.39
MX:POWN Q2 2026 Revenue Results
Actual Revenue$251.55B
Expected Revenue$58.44B
Beat/MissBeat by +$193.11B
YoY Revenue Growth+41.85%
Earnings Announcement Details
QuarterQ2 2026
Date07/30/2026
TimeAfter Close
Conference CallThursday, July 30, 2026
MX:POWN Upcoming Earnings
Power Corp of Canada's next earnings date is estimated for November 11, 2026, based on past reporting schedules.
Q2 2026 Earnings Call Audio
No earnings call audio is available for this earnings event.
Q2 2026 Earnings Slide Deck
No slide deck is available for this earnings event.
Q2 2026 Earnings Call Summary
Earnings Call Sentiment|Positive
The call presented predominantly positive operational and financial momentum: record adjusted EPS, very strong YoY NAV appreciation (74%), robust performance at Great‑West and IGM (double‑digit EPS growth, Empower crossing $2 trillion AUA, and IGM record quarter), meaningful Wealthsimple and Sagard fair value gains and fundraising, and continued capital returns (H1 buybacks/dividends and $12B returned since 2020). Offsetting items were modest: small losses at some NAV businesses, a $112 million corporate loss, a minor NAV reduction from the LMPG sale, a persistent ~20% NAV discount, and a still‑challenging fundraising/valuation environment for alternatives. Overall, highlights materially outweigh the lowlights, supporting a positive view of the quarter and outlook.Company Guidance
Record Adjusted EPS and Strong Earnings
Adjusted net earnings of $974 million, up 10% year-over-year; record adjusted EPS of $1.55, up 12% year-over-year. Reported net earnings were $690 million and reported EPS was $1.10.
Material NAV Appreciation
NAV per share was $112.94 at quarter-end, up 74% year-over-year and up 34% quarter-over-quarter; adjusted NAV per share stood at $116.01 as of the most recent close.
Great‑West: Strong Operational Metrics and Capital Deployment
Great‑West contributed $871 million to adjusted net earnings, up 10% year-over-year; base EPS $1.42, up 15% YoY; base ROE 19.3% (above 19% medium-term objective). Empower base earnings grew ~34% YoY (constant currency), retirement assets crossed $2 trillion, and the planned Milliman defined benefit acquisition will add ~1.5 million participants and ~$130 billion of client assets. Great‑West repurchased ~$925 million of shares YTD; total capital deployment (buybacks + M&A) expected at least $1.6 billion.
IGM: Record Quarter and Strong Flows
IGM contributed $211 million, up 34% YoY; reported adjusted EPS $1.41, up 32% YoY. Wealth Management AUM/A reached $176.6 billion (up 20% YoY). Net flows across IG Wealth and Mackenzie were $2.2 billion and IGM returned $386 million to shareholders YTD.
Wealthsimple Momentum and Revaluation
Wealthsimple fair value (Power's position net of carried interest) of $1.7 billion, up 15% from last quarter; Power group interest in Wealthsimple net of carried interest now ~$4.4 billion, up 15% year-over-year. Wealthsimple reported an AUA increase of $30.8 billion QoQ and approximately $17 billion of net flows in the quarter (largest QoQ growth in company history).
Sagard and Alternatives Growth
Sagard fair value increased ~11% in the quarter and contributed $33 million of adjusted net earnings. Sagard closed the Unigestion acquisition (adding ~$15.1 billion AUM), raised approximately $2.6 billion in H1 2026, and reported strong initial commitments to Sagard Credit Fund III (~$1 billion of $2 billion target) and launched a $150 million AI fund.
Capital Return and Balance Sheet Strength
Power returned $1.5 billion to shareholders in H1 2026 and has returned over $12 billion in dividends and repurchases since 2020. Cash and cash equivalents were $2.2 billion (up from $1.7 billion YoY) with $1.8 billion of available cash; management views buybacks as attractive with the stock trading at ~20% discount to NAV.
NAV Composition and Public Company Exposure
Gross asset value of $77.4 billion is largely anchored by public operating companies: ~91% of gross asset value tied to Great‑West, IGM and GBL (rising to ~94% including cash). Power reports a 20% compound annual growth rate in NAV since 2020 and outperformance of TSX indices over multiple time horizons.
MX:POWN Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed