Strong Earnings Growth
Adjusted net earnings from continuing operations were $883 million in the quarter, up 19% year-over-year. Adjusted net earnings per share increased by 21% from last year.
Great-West Lifeco Performance
Great-West Lifeco's contribution to Power's adjusted earnings was up 12% year-over-year, marking its fifth consecutive quarter of base earnings in excess of $1 billion.
IGM Financial Achievements
IGM's contribution to adjusted earnings increased by 15% year-over-year, driven by record high AUM&A at both IG Wealth and Mackenzie.
Significant Increase in Sagard's Contribution
Sagard's contribution to earnings was $106 million, up from $27 million last year, primarily driven by fair value increases in private equity.
Wealthsimple Growth
Wealthsimple's AUA increased from $44 billion to $85 billion year-over-year, with 2.8 million Canadians as clients.
Share Buyback Activity
Power Corp repurchased 1.4 million shares worth $74 million in the quarter, totaling 4.4 million shares year-to-date.