Power Corporation of Canada derives its value from Great-West and IGM Financial.
Nothing in no-moat rated Power Corporation of Canada’s results alters our long-term view of the firm. Net earnings attributable to participating shareholders amounted to $470 million for the quarter, a year-over-year increase of 55%. Excluding the impact of a $175 million charge from the conglomerate’s largest holding, Great-West, net earnings would have risen 82% year over year. This charge was attributable to hurricanes Harvey, Irma, and Maria. As of the end of the third quarter, Power Corp co...
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