IGM Financial ( (IGIFF) ) has released its Q4 earnings. Here is a breakdown of the information IGM Financial presented to its investors.
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IGM Financial Inc., a leading Canadian diversified wealth and asset management organization, primarily operates through IG Wealth Management and Mackenzie Investments, providing financial planning and investment management services.
In its recently released earnings report for the fourth quarter and full year of 2024, IGM Financial highlighted robust financial performance with notable advancements in assets under management and advisement. Despite a year-over-year decline in reported net earnings due to previous one-time gains, adjusted earnings showed a significant increase, reflecting strong operational performance.
For the fourth quarter of 2024, IGM Financial reported net earnings of $254.7 million, a decrease from $419.6 million in the same period last year, attributed to a gain from the sale of IPC in 2023. However, adjusted net earnings rose by 22% to $250 million, demonstrating the company’s underlying growth. The firm achieved record high quarter-end assets under management and advisement of $270.4 billion, up 12.6% from the previous year, driven by strong inflows, particularly in the Wealth Management segment.
In terms of annual performance, IGM Financial’s net earnings reached $933.5 million, while adjusted net earnings grew by 11.4% to $939 million. Assets under management including strategic investments also saw a substantial increase of 23.8% year-over-year, reaching $483.5 billion. These results underscore the company’s successful growth strategies and robust client engagement.
Looking ahead, IGM Financial remains focused on maintaining its growth trajectory through strategic investments and client-centric initiatives, with management expressing confidence in the company’s ability to deliver sustainable value to shareholders.
