Great-West Lifeco (TSE:GWO)
TSX:GWO
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Earnings Data
Report Date
Jul 28, 2026TBA (Confirmed)
Period Ending
2026 (Q2)Consensus EPS Forecast
1.37Last Year’s EPS
1.24Same Quarter Last Year
Moderate Buy
Based on 8 Analysts Ratings
Earnings Call Summary
Earnings Call Sentiment|Positive
The call presented a predominantly positive operational and financial picture: double-digit base earnings growth across all segments, strong margin expansion at Empower, exceptional Wealth growth (65% YoY), robust CRS demand, improved capital metrics (LICAT 129%), and sizable Holdco liquidity (~$2.1B). Manageable challenges were highlighted—participant outflows as a structural industry headwind, fee-mix timing impacts, and inherent insurance mortality/longevity volatility—plus competitive pressures in European bulk annuities and some near-term margin timing due to marketing spend. Overall, the positives (broad-based growth, cash generation, capital strength and executed buybacks) materially outweigh the noted risks, which management views as manageable and largely within expectation.Company Guidance
Strong Base Earnings and EPS Growth
Base earnings increased ~20% year-over-year and base EPS grew 23% year-over-year, driven by capital-efficient businesses and disciplined capital deployment.
Empower: Double-Digit Earnings and High ROE
Empower base earnings grew 23% year-over-year in U.S. dollars; Empower base ROE reached 20.8% and operating margins improved >300 basis points year-over-year in Retirement, with net plan flows exceeding participant outflows in Q1 and expected positive net plan flows for full-year 2026.
Wealth Business Outperformance
Empower Wealth delivered exceptional growth with base earnings up 65% year-over-year and operating margins steady at ~39% despite increased brand investment, demonstrating scalability.
Capital & Risk Solutions (CRS) Momentum
CRS base earnings grew strongly (reported ~41%–43% year-over-year on a constant currency basis); Capital Solutions now represents ~60% of CRS earnings and new business pipeline remains robust across regions.
Client Assets and High-Margin AUM Growth
Total client assets rose ~10% year-over-year to $3.3 trillion, including >$1.1 trillion of higher-margin assets under management or advisement.
Return of Capital and Liquidity Position
Repurchased approximately $567 million of common shares in Q1; Holdco cash of ~$2.1 billion at quarter-end and leverage ratio steady at ~28%, supporting capital return and optional deployment.
Capital Strength and Cash Generation
LICAT ratio improved to 129% (from 128%); base capital generation exceeded 80% of base earnings and free cash flow was ~85% of base earnings, underpinning capital flexibility.
Achievement of Medium-Term Objectives
Company achieved all Investor Day objectives for the first time, including base ROE above 19% (19.1% reported) and progress toward shifting earnings mix to capital-light businesses (target: 70%+ of base earnings over medium term).
TSE:GWO 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:GWO Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
May 06, 2026 | C$72.86 | C$76.36 | +4.80% |
Feb 11, 2026 | C$59.76 | C$60.41 | +1.09% |
Nov 05, 2025 | C$58.15 | C$59.68 | +2.63% |
Aug 07, 2025 | C$51.38 | C$51.65 | +0.53% |
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 Great-West Lifeco (TSE:GWO) report earnings?
Great-West Lifeco (TSE:GWO) is schdueled to report earning on Jul 28, 2026, TBA (Confirmed).
What is Great-West Lifeco (TSE:GWO) earnings time?
Great-West Lifeco (TSE:GWO) earnings time is at Jul 28, 2026, TBA (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:GWO EPS forecast?
TSE:GWO EPS forecast for the fiscal quarter 2026 (Q2) is 1.37.