IGM Financial (IGM) Q2 2025 earnings summary

Executive summary

• Achieved record adjusted EPS of $1.07 in Q2 2025, up 15.1% year-over-year, and record adjusted net earnings of $252.7 million, with reported EPS of $1.04, up 14.3% year-over-year.

• Consolidated AUM&A including strategic investments reached $521.1 billion, up 20.7% year-over-year and 3.5% sequentially.

• Returned $168 million to shareholders in Q2 2025 through dividends and share repurchases.

• Strategic investments in Wealthsimple, Rockefeller, ChinaAMC, and Northleaf drove strong client asset growth and future earnings potential.

• Increased fair value of Wealthsimple by 21% to $1.5 billion and realized $25 million pre-tax proceeds from Conquest Planning investment.

Financial highlights

• Adjusted net earnings available to common shareholders rose 15% to $252.7 million compared to Q2 2024.

• Adjusted EPS of $1.07, up 15.1% year-over-year, and reported EPS of $1.04, up 14.3% year-over-year.

• Dividends paid totaled $133.2 million, with a 62% LTM adjusted cash earnings payout ratio.

• Shares repurchased amounted to $34.9 million in Q2, with an additional $14.6 million in July.

• Leverage reduced to 1.49x Debt/LTM adj. EBITDA, and unallocated capital exceeded $600 million.

Outlook and guidance

• Maintaining 2025 operations & support and business development expense growth guidance of 4% for consolidated operations and 2.5% for IG Wealth Management.

• Rockefeller expected to turn positive in earnings in the second half of the year, with further growth anticipated in 2026.

• On track to repurchase 5 million shares during 2025.

• Dividend increase to be considered as cash payout ratio approaches 60%; buybacks remain a priority.

• Management highlights strong positioning for growth, citing record asset levels and successful execution of strategy.