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IGM Financial (IGIFF)
OTHER OTC:IGIFF
Holding IGIFF?
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Earnings Data
Report Date
Feb 06, 2025TBA Not Confirmed
Period Ending
2024 (Q4)Consensus EPS Forecast
0.72Last Year’s EPS
0.58Same Quarter Last Year
Moderate Buy
Based on 6 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Nov 02, 2018
|% Change Since: 1.69%
|Next Earnings Date:Aug 02, 2018
Earnings Call Sentiment|Positive
The earnings call presented strong performance in terms of earnings growth, asset management, and client inflows. Exceptional results from Wealthsimple and significant asset growth across various segments highlight the company's effective strategies. However, challenges remain in dealing with net redemptions and performance issues in specific investment boutiques.Company Guidance
During the IGM Financial Third Quarter 2024 Analyst Call, the company provided a comprehensive update on its financial performance and strategic direction. Key metrics from the call included an adjusted earnings per share (EPS) of $1.03, marking a 12% increase year-over-year and representing their second-best adjusted Q3 EPS on record. Total client assets grew by 23% year-over-year, reaching $462 billion by the end of September, with all companies within IGM achieving record-high asset levels. IG Wealth Management's assets under administration (AUA) rose by 19% year-over-year to $136.4 billion, and Mackenzie Investments reported record-high assets under management (AUM) of $212 billion, up 13.8% from the previous year. Additionally, Wealthsimple's assets under administration (AUA) increased by 109% year-over-year, reaching over $52 billion, alongside a client count growth of 16%. The company returned $160 million to shareholders through dividends and share buybacks and guided a 4% growth in expenses for 2024. Overall, IGM Financial continues to execute its growth strategy, focusing on expanding its assets and client relationships while maintaining strong financial performance.Strong Earnings and Asset Growth
Adjusted earnings per share for the quarter were $1.03, up 12% year-over-year. Total client assets increased 23% year-over-year to $462 billion.
Record Client Inflows in Wealth Management
Wealth Management saw record high ending AUM&A and third quarter records for total new client and existing client gross inflows. IG Wealth ended the quarter with AUA of $136.4 billion, up 19% year-over-year.
Wealthsimple's Exceptional Performance
Wealthsimple's AUA increased by $8.5 billion during the quarter, up 20% sequentially and 109% year-over-year. The fair value of the investment in Wealthsimple was marked up by 46% to $1.2 billion.
Successful Asset Management and Expansion
Mackenzie Investments achieved record high AUM of $212 billion, up 13.8% year-over-year. ChinaAMC's long-term investment fund AUM is up 46% in the year.
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IGIFF 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
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IGIFF Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Nov 07, 2024 | $30.80 | $31.44 | +2.08% |
| Aug 07, 2024 | $25.84 | $25.22 | -2.40% |
| May 02, 2024 | $24.87 | $26.63 | +7.08% |
| Feb 15, 2024 | $25.24 | $24.24 | -3.96% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
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FAQ
When does IGM Financial (IGIFF) report earnings?
IGM Financial (IGIFF) is schdueled to report earning on Feb 06, 2025, TBA Not Confirmed.
What is IGM Financial (IGIFF) earnings time?
IGM Financial (IGIFF) earnings time is at Feb 06, 2025, TBA Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is IGIFF EPS forecast?
IGIFF EPS forecast for the fiscal quarter 2024 (Q4) is 0.72.
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