Power Corp. reports net earnings of $709 million in first quarter

The Power Corporation of Canada logo is shown in this undated handout photo. THE CANADIAN PRESS/HO, Power Corporation of Canada *MANDATORY CREDIT*

MONTREAL — Power Corp. of Canada says its net earnings for the first quarter were $709 million, up from $313 million a year earlier.

The Montreal-based management and holding company says net earnings per share were $1.09, up from 47 cents during the same quarter last year. 

Adjusted net earnings from continuing operations were $727 million or $1.12 per share.

That’s up from $588 million, or 88 cents per share, a year earlier. 

Power Corp., which holds a 70.49 per cent interest in Great-West Lifeco, says that company’s net earnings from continuing operations were $702 million. 

Power Corp. holds a 59.10 per cent stake in IGM Financial Inc. and says that company’s net earnings from continuing operations were $139 million. 

This report by The Canadian Press was first published May 8, 2024.

Companies in this story: (TSX:POW)

The Canadian Press