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WINNIPEG, MB, Feb. 6, 2025 /CNW/ - IGM Financial Inc. (IGM or the Company) (TSX: IGM) today announced earnings results for the fourth quarter and the year ended December 31, 2024.
IGM HIGHLIGHTS
Fourth quarter net earnings of $254.7 million compared to $419.6 million in the fourth quarter of 2023, which included a gain on the sale of IPC of $220.7 million. Earnings per share of $1.07 compared to $1.76 in the fourth quarter of 2023.Adjusted net earnings1 were $250.0 million for the fourth quarter of 2024 compared to $204.9 million in the fourth quarter of 2023, an increase of 22.0%. Adjusted earnings per share1 were $1.05 for the fourth quarter of 2024 compared to $0.86 in the fourth quarter of 2023.Annual net earnings of $933.5 million or $3.93 per share compared to $1,148.9 million or $4.82 per share in 2023. Annual adjusted net earnings1 were $939.0 million or $3.95 per share compared to $843.1 million or $3.54 per share in 2023.Record high quarter-end assets under management and advisement of $270.4 billion, up 12.6% from the fourth quarter of 2023 and up 2.1% from the prior quarter.IGM's assets under management and advisement including strategic investments were $483.5 billion compared with $461.6 billion at September 30, 2024 and $390.6 billion at December 31, 2023.Fourth quarter net inflows were $244 million compared to net outflows of $1,239 million in 2023.2The information provided here is not subject to any editorial processing. It is prepared fully automatically and enriched with additional information and further research options. The aim of the content is to provide information seekers with the relevant information quickly and easily. A link back to the information provider and owner ensures that the data prepared here can be compared with the source information if required. The newsboard does not show information in real time. Please contact the exchange operator for this information if required. There is no claim to completeness. High availability cannot be guaranteed. If you notice any errors in the functionality, please let us know using the "Report a Bug" form below.
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