IGM Financial (IGM) Q1 2026 earnings summary

Executive summary

• Achieved record adjusted EPS of $1.21 (CAD 1.21), up 21% year-over-year, and reported EPS of $1.20, up 22.4% year-over-year, with strong earnings growth in both wealth and asset management segments.

• Returned a record $330 million (CAD 330 million) to shareholders via dividends and share buybacks, the highest ever quarterly return.

• Consolidated AUM & A including strategic investments reached $568.9 billion, up 13% year-over-year and 0.5% sequentially.

• Leadership succession announced: Damon Murchison to become President and CEO on July 1, 2026.

• AI is being embedded across wealth, asset management, and enterprise workflows to drive efficiency and client outcomes.

Financial highlights

• Adjusted net earnings available to common shareholders rose 20% year-over-year to $284.3 million.

• Wealth management segment adjusted net earnings grew 24% to $158.9 million; asset management segment up 9% to $57.4 million.

• Net inflows for the quarter were $5.6 billion, compared to $4.2 billion in the prior year.

• Dividend payout ratio was 48% of adjusted net earnings and 56% of adjusted cash earnings (LTM).

• Gross leverage ratio reduced to 1.32x; unallocated capital over $1 billion at quarter end.

Outlook and guidance

• Maintaining expense growth guidance of 4% for 2026.

• Expect IG Wealth and Mackenzie expenses to be seasonally higher in Q2, then drop in the second half of the year.

• ChinaAMC earnings growth expected in the mid-single-digit range for 2026.

• Rockefeller expected to move into positive earnings in the second half of 2026.

• Continued investment in technology, AI, and client experience across segments.