Company Reports

Power Corp. of Canada is a holding company that focuses on the financial-services sector. We estimate that its stake in two publicly listed companies, Great-West Lifeco and IGM Financial, accounts for more than 85% of its total value. The firm simplified its ownership structure and cut corporate costs after it acquired all the shares of Power Financial in a 2020 restructuring.

Power Corp. of Canada reported strong results in the second quarter, mostly driven by solid performance in its core earnings-focused businesses. Adjusted net earnings for the quarter were CAD 974 million, up 10% from a year ago.

Power Corp. of Canada is a holding company that focuses on the financial-services sector. We estimate that its stake in two publicly listed companies, Great-West Lifeco and IGM Financial, accounts for more than 80% of its total value. The firm simplified its ownership structure and cut corporate costs after it acquired all the shares of Power Financial in a 2020 restructuring.

Canadian life insurers' earnings have benefited from the effects of market appreciation on their investment portfolios the past several quarters. The Morningstar Canada stock index has had a strong total return of around 33% in the past 12 months.

Power Corp. of Canada reported strong results in the first quarter, mostly driven by solid performance in its core earnings-focused businesses. Adjusted net earnings for the quarter were CAD 905 million, up 15% from a year ago.

Power Corp. of Canada reported slightly disappointing results in the fourth quarter, mostly from impairment in the GBL and revaluation of liabilities in Power Sustainable. Net earnings from continuing operations were CAD 408 million, down 56% from a year ago.

Power Corp. of Canada is a holding company that focuses on the financial-services sector. We estimate that its stake in two publicly listed companies, Great-West Lifeco and IGM Financial, accounts for more than 80% of its total value. The firm simplified its ownership structure and cut corporate costs after it acquired all the shares of Power Financial in a 2020 restructuring.

Power Corp. of Canada is a holding company that focuses on the financial-services sector. We estimate that its stake in two publicly listed companies, Great-West Lifeco and IGM Financial, accounts for approximately 85% of its total value. The firm simplified its ownership structure and cut corporate costs after it acquired all the shares of Power Financial in a 2020 restructuring.

Power Corp. of Canada reported decent results in the third quarter as adjusted earnings came in at CAD 0.86 billion, or CAD 1.35 per share, up by 26% from the prior-year quarter.

Power Corp. of Canada is a holding company that focuses on the financial-services sector. We estimate that its stake in two publicly listed companies, Great-West Lifeco and IGM Financial, accounts for approximately 85% of its total value. The firm simplified its ownership structure and cut corporate costs after it acquired all the shares of Power Financial in a 2020 restructuring.

Power Corp. of Canada is a holding company that focuses on the financial-services sector. We estimate that its stake in two publicly listed companies, Great-West Lifeco and IGM Financial, accounts for approximately 85% of its total value. The firm simplified its ownership structure and cut corporate costs after it acquired all the shares of Power Financial in a 2020 restructuring.

Power Corp. of Canada reported decent results in the second quarter as adjusted earnings came in at CAD 0.88 billion, or CAD 1.38 per share, up from CAD 0.74 billion, or CAD 1.14 per share, in the prior-year quarter.

We are transferring coverage of Power Corp. of Canada to a new analyst. Power Corp. is a holding company that derives the majority of its value from its ownership interests in Great-West Lifeco and IGM Financial.

Power Corp. of Canada is a holding company that focuses on the financial-services sector. We estimate that its stake in two publicly listed companies, Great-West Lifeco and IGM Financial, accounts for approximately 85% of its total value. The firm simplified its ownership structure and cut corporate costs after it acquired all the shares of Power Financial in a 2020 restructuring.

Power Corp. of Canada reported a good set of results in the first quarter as adjusted earnings came in at CAD 0.79 billion, or CAD 1.22 per share, up from CAD 0.71 billion, or CAD 1.09 per share, in the first quarter of the previous year.

Power Corporation of Canada is a holding company and derives most of its underlying value from its ownership stakes in Great-West Lifeco and IGM Financial. We estimate that Power Corporation's stake in two publicly listed companies accounts for approximately 85% of its total value. The company has stated that rather than diversifying across industries, Power Corp. will focus on the financial services sector. The company simplified its ownership structure and reduced corporate costs after it acquired all the shares of Power Financial in a restructuring effort in 2020.

Power Corp. of Canada reported good fourth-quarter results. Adjusted earnings came in at CAD 0.83 billion, or CAD 1.28 per share, up from CAD 0.69 billion, or CAD 1.06 per share, in the year-ago quarter.

Power Corporation of Canada is a holding company and derives most of its underlying value from its ownership stakes in Great-West Lifeco and IGM Financial. We estimate that Power Corporation's stake in two publicly listed companies accounts for approximately 85% of its total value. The company has stated that rather than diversifying across industries, Power Corp. will focus on the financial services sector. The company simplified its ownership structure and reduced corporate costs after it acquired all the shares of Power Financial in a restructuring effort in 2020.

Power Corp. reported lackluster results in the third quarter as adjusted earnings came in at CAD 0.54 billion or CAD 0.84 per share, down from CAD 1.00 billion or CAD 1.52 per share in the third quarter of the previous year. Adjusted net asset value per share was CAD 57.90 as of the quarter-end.

Power Corp. of Canada reported a decent second quarter, driven by a strong performance of Great-West Life’s Empower business and IGM’s higher assets under management. The firm reported adjusted net earnings of CAD 761 million, or CAD 1.17 per share, in the second quarter compared with CAD 842 million, or CAD 1.26 per share, in the second quarter of the previous year. The company has declared a quarterly dividend of 56.25 cents per share for the second quarter, which represents a 6.2% dividend yield at the current stock price. Power Corp.’s adjusted net asset value per share stood at CAD 50.48 as of the end of the second quarter, which compares with CAD 53.10 at the beginning of the quarter. The company has continued to allocate capital to buybacks given the difference in NAV and share price of the company and has repurchased approximately CAD 189 million of shares in the first half of the year. We are maintaining our CAD 42 fair value estimate for the firm after incorporating the second-quarter results.