Well-Positioned to Navigate Headwinds from Falling Rates

Published: 8/26/2024

Author: FRC Analysts

*See important disclosures at the bottom of this report

Sector: Financial Services | Industry: Asset Management

Ticker Symbols:

OLY.TO - TSX 🔹

In Q2-2024, revenue was up 5% YoY amid higher interest rates, and client assets under management, but missed our estimate by 4% as the Bank of Canada started cutting rates slightly earlier than anticipated.
EPS was down 1% YoY, and 12% lower than our estimate due to lower than expected revenue.

Client assets held by OLY were up 1.2% QoQ to $11.5B.
Dividends remained flat QoQ, but increased 33% YoY to $1.80, aligning with our estimate.

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