Onex Corp

Latest Results (25.12.2024):

Net Earnings

Onex Corp reported net earnings of $127 million for the third quarter of 2024, a decrease from $256 million in the same quarter of 2023. This resulted in net earnings per diluted share of $1.68, compared to $3.23 in the previous year. The decline in net earnings reflects various factors impacting the company's financial performance during this period.

Investing and Asset Management Segments

In the third quarter of 2024, Onex Corp's investing segment net earnings were $121 million, while the asset management segment reported a net loss of $22 million. The total segment net earnings amounted to $143 million, translating to $1.88 per fully diluted share. These figures highlight the mixed performance across Onex's business segments.

Fee-Related and Distributable Earnings

Onex Corp's asset management fee-related earnings for the third quarter of 2024 were $6 million, contributing to total fee-related earnings of $267 million. Distributable earnings for the period were $223 million, showcasing the company's ability to generate cash flow for distribution to shareholders.

Investing Capital and Returns

Onex Corp's investing capital per fully diluted share returned 3% for the three months ended September 30, 2024. The company had approximately $8.5 billion of investing capital, or $113.37 per fully diluted share, as of September 30, 2024. This reflects a compound annual return of 9% over the past year and 14% over the last five years.

Fee-Generating Assets and Management Fees

As of September 30, 2024, Onex Corp had $34.1 billion of fee-generating assets under management, marking a 4% increase from the previous quarter. Run-rate management fees increased to $187 million, indicating growth in the company's asset management business. Additionally, unrealized carried interest from funds managed by Onex was $270 million at the end of the quarter.