Great-West Lifeco Inc. Q1 2026 Earnings Recap

The stock gained 4.7% as Great-West delivered double-digit earnings growth across all segments, boosted by strong operating leverage, capital-efficient businesses, and positive momentum in Empower and Capital and Risk Solutions.

Key Takeaways

• Base EPS rose 23% year-over-year, driven by strong performance and share buybacks totaling nearly $600 million.
• Empower’s base earnings increased 23% in U.S. dollars, supported by retirement and wealth segment growth and margin expansion.
• Capital and Risk Solutions posted 41% base earnings growth, fueled by robust demand across geographies and product lines.
• Total client assets grew 10% year-over-year to $3.3 trillion, with $1.1 trillion in higher-margin assets under management or advisement.
• First-quarter results met all medium-term objectives, including a base ROE exceeding 19%, underscoring progress on the capital-light business mix and disciplined capital deployment.