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

MONTREAL — Power Corporation of ÎÚÑ»´«Ã½ says its net earnings for the third quarter were $371 million. That's down from $975 million during the third quarter of 2023.
Canadian Press
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Power Financial chairman Paul Desmarais Jr., right, deputy chairman Andre Desmarais, left, and president and CEO Jeffrey Orr head to the company's annual meeting in Montreal, May 10, 2018. THE CANADIAN PRESS/Ryan Remiorz

MONTREAL — Power Corporation of ÎÚÑ»´«Ã½ 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