Onex Corporation's Impressive Fourth Quarter Financial Review
Onex Corporation Announces Robust Results for 2024
TORONTO — Onex Corporation (TSX: ONEX) has revealed its financial performance for the fourth quarter and year concluding December 31, 2024. The report showcases a strong commitment to creating long-term value for shareholders.
CEO's Commitment to Shareholder Value
In his remarks, CEO Bobby Le Blanc emphasized the company's focus on growth strategies that promise the best risk-adjusted returns. The firm raised over $1.5 billion within its private equity units throughout 2024, demonstrating a vigorous engagement in the competitive investment landscape.
Quarterly Financial Performance Metrics
Net Earnings and Shareholder Returns
During the fourth quarter, Onex reported net earnings results reflecting a loss of $2 million compared to $373 million the previous year. The earnings per diluted share witnessed a decline from $4.81 to a loss of $0.02.
Investing Segment Highlights
The investing segment performed well, realizing $29 million in net earnings during Q4. This shows the enduring strength of the company’s investing approach, despite facing challenges in the credit sector, which yielded $16 million in gains this quarter.
Investment and Asset Management Success
Fee-generating Capital Growth
Onex also raised substantial fees, about $8.8 billion across its investment platforms throughout 2024, marking a significant surge in commitment and investor interest.
Strengthen of Balance Sheet
The company's total assets under management soared to $35.2 billion, marking a 17% increase from the previous year, indicating robust operational capabilities. Shareholder returns were boosted by a strategic stock buyback, with Onex acquiring 5.7 million subordinate voting shares in 2024 for roughly $215 million.
Future Outlook and Strategic Directions
The Onex Partners Opportunities Fund achieved aggregate commitments nearing $1.2 billion in 2024, supported by Onex’s own $400 million commitment. Moreover, credit strategies continue to thrive, with fee-related income generating strong results in the overarching landscape.
Dividend and Webcast Announcement
Following a strong year, Onex’s Board of Directors declared a first-quarter dividend of C$0.10 per subordinate voting share, with payment set for April. Investors and stakeholders are encouraged to participate in the upcoming webcast to discuss Q4 results.
About Onex Corporation
Onex Corporation is dedicated to managing capital on behalf of its shareholders and clients globally. With $51.1 billion in assets under management, including $8.3 billion of its capital, Onex continues to prioritize investors’ wealth and performance-oriented strategies.
Frequently Asked Questions
What were the net earnings for Onex in Q4 2024?
Onex reported a net loss of $2 million in the fourth quarter of 2024.
How much capital did Onex raise through its Private Equity segment?
The Private Equity segments of Onex raised over $1.5 billion in 2024.
What is the dividend amount declared by Onex for the first quarter?
The declared dividend is C$0.10 per subordinate voting share for the first quarter.
What is the total assets under management for Onex?
Onex's total assets under management increased to $35.2 billion, a 17% year-over-year growth.
When is the next webcast scheduled for Onex results discussion?
The next webcast to discuss Onex's results is scheduled for February 21, 2025, at 11:00 a.m. ET.
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