Power Corporation Reports Mixed Q2 2026 Results Amid Strategic Moves — Power Corporation of Canada

Event summary

Power Corporation reported Q2 2026 net earnings of $690 million, down from $772 million in Q2 2025.
Adjusted net asset value per share increased by 31.7% to $112.94 as of June 30, 2026.
Great-West Lifeco's adjusted ROE exceeded 19% for the second consecutive quarter.
IGM Financial's assets under management and advisement grew by 20.9% year-over-year to $343.3 billion.
Power Corporation completed several strategic moves, including the sale of LMPG Inc. and acquisitions by Sagard Holdings.

The big picture

Power Corporation's Q2 2026 results reflect a mixed performance with strategic moves aimed at portfolio simplification and growth in asset management. The company's adjusted net asset value per share saw significant growth, driven by strong performances from its publicly traded operating companies. However, the decline in net earnings highlights the challenges in sustaining profitability amid a complex regulatory environment and competitive market dynamics.

What we're watching

Execution Risk: The pace at which Power Corporation can integrate and realize value from its recent acquisitions, particularly the acquisition of Unigestion by Sagard Holdings.
Market Dynamics: How the continued growth of Wealthsimple will impact Power Corporation's overall portfolio performance and strategic direction.
Regulatory Headwinds: The potential regulatory approvals required for Great-West Lifeco's acquisition of Milliman, Inc.'s retirement plan and benefits administration business.