Agf Management Stock Earnings Reports

Key points for investors: AGF reported a strong Q2 2026 with adjusted diluted EPS of CAD 0.72, CAD 36 million of free cash flow, and a strengthened balance sheet (net debt CAD 51M; CAD 435M in short and long-term investments; CAD 145M available on the credit facility). AUM and fee-earning assets rose to ~CAD 75 billion (including CAD 11 billion from New Holland Capital), up ~40% year-over-year. AGF increased its economic interest in New Holland from 24.9% to 50%, with further option rights; New Holland AUM is up ~44% since AGF’s initial investment and is expected to be modestly accretive to earnings going forward. AGF Capital Partners now totals ~CAD 15.3 billion in AUM and fee-earning assets, reflecting progress building a diversified alternatives/private markets business (Kensington, New Holland, private credit, venture strategies). Canadian retail mutual funds posted the eighth consecutive quarter of positive net sales (CAD 6M) while SMA/ETF AUM grew strongly (+74% y/y to CAD 4.8B) and Canadian SMA/ETF flows were CAD 155M for the quarter. Investment performance: roughly 60% of funds outperformed peers on 3- and 5-year bases; percentile rankings were mid-pack (1-year 42nd, 3-year 43rd, 5-year 40th). Financials: adjusted EBITDA CAD 64M (up sequentially and y/y); trailing 12-month adjusted EBITDA CAD 193M and enterprise value ~CAD 1.3B (~6.9x EV/EBITDA). Management highlighted operating leverage (EBITDA yield 28 bps excl. ACP), disciplined capital allocation (dividends + buybacks; returned CAD 80M over trailing 12 months), and opportunistic share repurchases. They flagged a planned ~CAD 150M client redemption in Q3 that is rebalancing-driven (not performance-related). Management reiterated guidance/expectations for mid-single-digit returns from long-term investments for 2026 (approx. 5–6%) and emphasized balance-sheet flexibility to support growth, acquisitions, and shareholder returns.