Power Corp. third-quarter earnings down year over year to $371 million

MONTREAL — Power Corporation of Canada says its net earnings for the third quarter were $371 million.

That’s down from $975 million during the third quarter of 2023.

The Montreal-based management and holding company says net earnings per share were 58 cents, down from $1.47 during the same quarter last year.

Adjusted net earnings from continuing operations were $542 million, compared with $1.01 billion a year earlier.

Power Corp., which holds a 68.2 per cent interest in Great-West Lifeco, says that company’s net earnings from continuing operations were $859 million, down from $936 million during the same quarter last year.

Power Corp. holds a 62.5 per cent stake in IGM Financial Inc. and says that company’s net earnings for the quarter were $239.2 million, up from $209.8 million.

This report by The Canadian Press was first published Nov. 12, 2024.

Companies in this story: (TSX:POW)

The Canadian Press