The following is a summary of the Canaccord Genuity Group (CCORF) Q4 2024 Earnings Call Transcript:

Financial Performance:

• Firm-wide revenue for Q4 was $409 million, a decrease of 5% year-over-year.

• Full-year revenue stable at $1.5 billion, consistent with the previous fiscal year.

• Fourth quarter earnings per share (EPS) adjusted to exclude significant items was $0.15, with full-year adjusted EPS at $0.40.

• Compensation ratio achieved target at 58% for the fiscal year.

• A common share dividend of $0.085 was declared, bringing the total annual dividend to $0.34.

Business Progress:

• Wealth Management Division reported a record revenue of $773 million for the year, an increase of 9%.

• Client assets reached a record level of $104 billion.

• Announced acquisition of Cantab Asset Management, expected to close in September 2024.

• Revenue from new issue activities in the Canadian Wealth business declined, reflecting a downturn in market activity, while Australia showed increases in managed client assets and revenue.

Opportunities:

• Potential market recovery provides opportunities for an improvement in new issue and advisory revenue.

• Acquisition of Cantab Asset Management could further strengthen the UK wealth management business.

Risks:

• Increased development costs associated with growth efforts in wealth management.

• Geopolitical crises, inflation, and U.S. Presidential elections present ongoing risks to performance.

• Future trajectories of interest rates could pose a challenge.

More details: CANACCORD GENUITY GROUP INC IR

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