Ci Financial Corp. ( (CIXXF) ) has released its Q3 earnings. Here is a breakdown of the information Ci Financial Corp. presented to its investors.
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CI Financial Corp. is a diversified global asset and wealth management company with operations primarily in Canada, the United States, and Australia, offering extensive services in wealth planning and management through its various segments.
The company reported record financial results for the third quarter of 2024, achieving new highs in adjusted diluted earnings per share and adjusted EBITDA attributable to shareholders. Total assets under management reached $518.1 billion, marking a significant increase from the previous year.
Key financial metrics included an adjusted diluted EPS of $0.97 and an adjusted EBITDA attributable to shareholders of $270.5 million, highlighting the company’s strong performance despite a net loss attributed to shareholders of $27.6 million. CI Financial also reported a free cash flow of $192.3 million and completed significant share repurchases and acquisitions of two U.S. wealth management firms.
The company emphasized strategic growth through product enhancements and acquisitions, strengthening its U.S. wealth management business with a reported 7.9% growth in adjusted EBITDA. Newly launched ETFs and mutual funds targeting high-demand areas, alongside winning industry-leading Lipper Fund Awards, underscore CI’s commitment to innovation and performance.
Looking forward, CI Financial remains poised for continued growth and expansion, supported by its robust business model and strategic initiatives aimed at enhancing shareholder value and capturing new market opportunities.
