CANACCORD GENUITY GROUP INC. REPORTS FIRST QUARTER FISCAL 2026 RESULTS
Executive Summary
- Canaccord Genuity Group Inc. reported Q1 FY 2026 revenue of C$448.4 M (+4.5% YoY) and a record wealth‑management revenue of C$242.9 M (+12.5% YoY).
- Adjusted diluted earnings per share were C$0.13, unchanged YoY; however, on an IFRS basis the company posted a loss before tax of C$11.9 M (loss per share $0.32).
- The board declared a cash dividend of C$0.085 per common share and dividends on Series A ($0.25175) and Series C ($0.42731) preferred shares.
Key Details
- Revenue & Profitability
- Total revenue (adjusted) C$448,447 k, up 4.5% YoY.
- Net income before taxes (adjusted) C$33,384 k, down 4.1% YoY.
- Adjusted diluted EPS C$0.13 (flat YoY).
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IFRS loss before tax C$11.9 M; loss per share $0.32 vs. profit in Q1‑25.
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Wealth Management Segment
- Revenue C$242,9 M (record), +12.5% YoY.
- Commissions & fees revenue record C$194,1 M, +17.9% YoY.
- Net income before taxes (adjusted) C$40,8 M, +22.7% YoY.
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Client assets grew 18.4% to a new high of C$125.3 B; regional highlights:
- UK & Crown Dependencies assets C$71.6 B (£38.3 B), +17.6% YoY.
- North America assets C$44.8 B, +16.9% YoY.
- Australia assets C$8.9 B (AUD 10.0 B), +34.3% YoY.
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Capital Markets Segment
- Revenue C$200.1 M, down 2.7% YoY.
- Advisory revenue C$48.9 M, down 27.1% YoY.
- Investment banking revenue C$62.4 M, +55.5% QoQ but –4.1% YoY; 93 transactions raised total proceeds of $16.2 B.
- Trading revenue C$37.8 M, up 52.3% YoY and 20.5% QoQ.
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Adjusted net income for the segment C$5.5 M vs. C$13.0 M a year earlier.
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Corporate Developments
- April 1 2025: definitive agreement to sell U.S. wholesale market‑making business to Cantor (expected close H1 FY 2026).
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Q1 FY 2026: $27.0 M of new purchase loans made to executives for LP‑unit purchases in CG Partners; total outstanding purchase loans net of repayments C$69.4 M.
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Significant Items Impacting Results (adjusted figures)
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Amortization of intangible assets from business combinations, incentive‑based acquisition costs, fair‑value adjustments on non‑controlling interest and convertible debenture derivatives, contingent consideration adjustments, professional fees for U.S. regulatory matters, restructuring and lease expenses, etc., totaling C$45.3 M in additional expense items versus prior period.
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Balance Sheet Highlights (Quarter End)
- Cash C$1,261.1 M (+5.7% QoQ).
- Total assets C$6,868.3 M (+2.2% YoY).
- Total liabilities C$5,569.9 M (+4.0% YoY).
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Shareholders’ equity C$889.0 M (down 7.4% YoY).
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Dividends
- Common share dividend: $0.085 per share, payable Sep 10 2025 (record date Aug 29 2025).
- Series A preferred dividend: $0.25175 per share, payable Sep 30 2025.
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Series C preferred dividend: $0.42731 per share, payable Sep 30 2025.
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Conference Call – Live webcast scheduled for Aug 7 2025 at 8:00 a.m. ET (details provided).
Notable Quotes
“We delivered a solid top‑line performance…record contributions from our wealth management division…we remain confident in our ability to enhance firm‑wide results and profit margins for the current fiscal year.” – Dan Daviau, Chairman & CEO
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