Canaccord Genuity Group (CF) Q2 2026 earnings summary

Executive summary

• Consolidated revenue reached $530.4M in Q2 FY26, up 24% year-over-year, driven by record wealth management and capital markets results.

• IFRS Q2 net loss was $186.8M, impacted by a $110M non-cash goodwill impairment in U.S. capital markets and increased U.S. regulatory provisions.

• Wealth Management and Advisory segments increased their contributions, providing greater earnings stability and downside protection.

• Employee ownership rose to 46.2% of outstanding shares, aligning interests with shareholders.

• Core operations remain strong, with a solid balance sheet and encouraging momentum in key growth areas.

Financial highlights

• Q2 adjusted revenue was $530.4M (+24% y/y); six-month revenue reached $978.9M (+14.3% y/y).

• Adjusted pre-tax net income for Q2 was $59.8M (+41.4% y/y), with diluted EPS of $0.27 (+35% y/y).

• IFRS Q2 revenue was $535.8M (+25% y/y); IFRS net loss before taxes was $158.5M due to significant items.

• Firm-wide corporate financing revenue rose 91% y/y to $108M.

• Commissions and fees revenue increased 25% y/y to $257M, driven by wealth management.

Outlook and guidance

• Management expects to exceed last year’s performance and achieve profitability targets for FY26, assuming stable market conditions.

• Continued focus on organic and inorganic growth, especially in wealth management across Canada, UK, and Australia.

• Board approved continuation of the quarterly common share dividend at $0.085 per share.

• Anticipates stronger performance in the second half, with robust pipelines in capital markets and advisory.