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Fiera Capital A (TSE:FSZ)
TSX:FSZ
Earnings Data
Report Date
May 13, 2026Before Open (Confirmed)
Period Ending
2026 (Q1)Consensus EPS Forecast
0.21Last Year’s EPS
0.2Same Quarter Last Year
Based on 3 Analysts Ratings
Earnings Call Summary
Earnings Call Sentiment|Positive
The call presented a mix of meaningful positives — notably private markets growth (+11.4% AUM), improved core Canadian public market net organic flows (swing of ~$6.8B year-over-year), strong fixed income relative performance, adjusted EBITDA and margin expansion, and a clear 3-year strategic plan — while acknowledging headwinds tied to sub-advised outflows, revenue and performance fee pressures, private wealth declines and a dilutive hybrid debenture. Management emphasized active remediation (deleveraging, distribution specialization, and capital reallocation) and identified concrete growth drivers. Overall the operational and financial momentum, particularly in higher-fee private markets and core public franchises, outweighs the challenges, though execution on deleveraging and restoring performance-driven flows remains important.Company Guidance
Total AUM and Excluding Sub-Advised Growth
Total assets under management ended the year at $164.1 billion. Excluding sub-advised strategies, AUM increased 0.4% in Q4 and rose more than $7 billion or 5.7% for the year, driven by ~ $1 billion of net inflows and strong equity market performance in 2025.
Private Markets Expansion and Strong Flows
Private markets AUM grew to $22 billion, up 11.4% year-over-year, reflecting ~ $900 million of net inflows and a strategic acquisition (controlling interest in a real estate investment platform). New subscriptions for the year were $1.9 billion and net inflows close to $900 million.
Public Markets Mandates and Core Franchise Momentum
Public markets secured ~ $500 million of new mandates in the quarter and $3.2 billion for the year. The firm's four core public market franchises captured $2.8 billion of net inflows for the year, and core Canadian public market net organic growth swung from >$4 billion outflows in 2024 to $2.7 billion inflows in 2025 — an improvement of ~$6.8 billion year-over-year.
Strong Fixed Income Relative Performance
Approximately 95% of fixed income assets outperformed their benchmark over both the 1-year and 5-year periods, and 97% outperformed over the 3-year period, indicating robust relative performance across fixed income strategies.
Improving Profitability and Margin Expansion
Adjusted net earnings for the quarter were $30 million (up from $25 million prior quarter and $23 million year-ago). Adjusted EBITDA was $55 million for the quarter (up 9% quarter-over-quarter) and adjusted EBITDA margin expanded to 30.4% (from 30.1% prior quarter and 29.0% year-ago). Full-year adjusted EBITDA margin improved to 28.8% (from 28.4% prior year).
Private Markets Revenue Mix and Attractive Economics
Private market platform comprised 13% of total AUM but generated 37% of total revenues for the year (up from 35% prior year), demonstrating higher-fee, higher-margin contribution and diversification benefits.
Capital Deployment and Balance Sheet Actions
Returned capital of ~$100 million in the quarter and ~$600 million for the year; deployed ~$450 million in Q4 and close to $2 billion year-to-date into new projects. Redeemed $67 million of senior subordinated debentures and repurchased ~1.6 million shares for close to $10 million. Net debt declined to $664 million (down $16 million quarter-over-quarter) and net debt ratio reduced to 3.4x from 3.5x.
Concrete Strategic Plan and Distribution Focus
Management outlined a 3-year plan emphasizing distribution specialization (private vs public), strengthening performance management, positioning private markets as a growth driver, operational efficiency, and revised capital allocation focused on deleveraging and selective reinvestment — with clear targets (e.g., net debt target ~2.5x over the 3-year period).
TSE:FSZ 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
TSE:FSZ Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
Nov 13, 2025 | C$6.04 | C$6.11 | +1.13% |
Aug 08, 2025 | C$6.28 | C$6.23 | -0.75% |
Aug 08, 2025 | C$6.28 | C$6.23 | -0.75% |
May 09, 2025 | C$6.10 | C$5.28 | -13.43% |
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.
FAQ
When does Fiera Capital A (TSE:FSZ) report earnings?
Fiera Capital A (TSE:FSZ) is schdueled to report earning on May 13, 2026, Before Open (Confirmed).
What is Fiera Capital A (TSE:FSZ) earnings time?
Fiera Capital A (TSE:FSZ) earnings time is at May 13, 2026, Before Open (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 TSE:FSZ EPS forecast?
TSE:FSZ EPS forecast for the fiscal quarter 2026 (Q1) is 0.21.