AGF Management Limited (AGFB) Earnings Call Transcripts

AGF Management Limited's Latest Earnings Call - Q1 FY2026

In Q1 2026, AGF Management Limited reported a solid performance with total revenue of $93 million, adjusted diluted EPS of $0.30, and a free cash flow of $36 million, reflecting a 14% increase from the previous quarter. The company declared an 8% increase in its quarterly dividend to $0.135 per share, marking the sixth consecutive year of dividend growth. However, management noted a decline in revenue from long-term investments, which negatively impacted adjusted EPS, leading to a cautious outlook for fiscal 2026 with expected returns from these investments reduced to 5-6%.

Reported metrics

Guidance from management

Management has lowered the expected returns from long-term investments for fiscal 2026 to 5-6%, down from the typical 8-10%. They remain confident in their overall business strategy despite market challenges.

What management said

Yes. So on your first question, that does include the 2.5%. There is no direct Middle East exposure. Certain assets in that business will have energy market exposure, which obviously, at some point, will tie back to what's going on in the Middle East.

Yes. Bart, it's Ash again. So that trend is largely due to some fair market value adjustments in Kensington's Evergreen private equity and venture portfolio. that obviously results in lower net asset values, on which the fee rate is applied for those vehicles. So depending on exactly which historic period you're comparing to, there may also be a little bit of impact from capital that was redeemed from that same fund ...

What analysts pressed on

Analysts expressed concerns regarding the decline in revenue from long-term investments and the impact of market volatility on retail flows. There were also questions about the sustainability of adjusted EBITDA amidst ongoing expenses and the performance of AGF Capital Partners.

Main topics on the call

• Dividend Increase — AGF declared a quarterly dividend of $0.135 per share, representing an 8% increase. This marks the sixth consecutive year of dividend growth, showcasing the company's commitment to returning capital to shareholders.
• Strong AUM Growth — Total AUM and fee-earning assets reached over $60 billion, up 12% year-over-year. The retail mutual fund business reported net sales of $237 million, marking the seventh consecutive quarter of positive net sales.
• Long-term Investment Performance Concerns — Revenue from long-term investments decreased to negative $10.6 million, attributed to a 2.5% decline in value. Management stated, "We are reducing our expectations for returns on the portfolio for this fiscal year from o...
• Free Cash Flow Generation — AGF generated strong free cash flows totaling $36 million in the quarter, up 14% from the prior quarter. This reflects the company's ability to maintain solid cash generation despite market volatility.

Read the full AGF Management Limited transcript (Q1 FY2026) → Summary generated from the call transcript; every figure above is stated by management on the record.

Earnings Call History

EarningsCalls.dev has 58 AGF Management Limited earnings call transcripts on record, spanning January 22, 2020 to June 24, 2026. Based on this history, AGF Management Limited reports quarterly. The most recent call on file is dated June 24, 2026. The full list is below — each row opens the complete, free-to-read transcript.

Ticker

AGFB

Exchange

TSX

Country

CA

Sector

Financials

Industry

Capital Markets

Calls on record

58

First call

January 22, 2020

Most recent

June 24, 2026

Reporting cadence

quarterly