Onex Corporation

Canadian stocks are seen turning in a mixed performance on Thursday with investors mostly reacting to earnings announcements. Stantec Inc. has reaffirmed its annual guidance to reflect strong demand and favorable market conditions, still expecting adjusted income per share growth of 15% to 18% and net revenue growth of 8.5% to 11.5% for fiscal 2026. CCL Industries posted net income of C$223.8 million, or C$1.31 per class B share, in the quarter ended June 30, 2026, compared with C$213.1 million, or C$1.21 per class B share, a year earlier. Brookfield Corporation reported second-quarter net income of $364 million, or $0.14 per share, up from $272 million, or $0.10 per share, a year ago. Onex Corporation reported net earnings of $131 million for the three months ended June 30, 2026, down from $229 million a year earlier, with net earnings per diluted share of $1.71 compared with $3.30. Weak commodity prices may trigger some selling in energy and materials sectors, and a lack of progress in Middle East peace efforts could weigh as well.

Onex Corp. reported a second-quarter profit of $131 million, or $1.71 per share, down from $229 million, or $3.30 per share, in the same period last year. The decline reflects a year-over-year drop in earnings for the company.

Carlyle and Bain Capital are the final bidders to acquire Wealth Enhancement in a deal that could value the wealth management platform at about $7 billion including debt, the Financial Times reported. Wealth Enhancement oversees nearly $160 billion in client assets, and its private equity owners TA Associates and Onex have put the business up for sale. The sale process, run by Evercore, is at an advanced stage but may not result in a transaction, and the current owners could still decide to keep the business. The company is a registered investment adviser that has expanded through acquisitions, buying at least six smaller firms since last year. The wealth management sector has attracted private equity interest due to recurring revenues and stable client relationships, with other notable deals including Mubadala Capital's $8.8 billion take-private of CI Financial and Clayton Dubilier & Rice's $7 billion buyout of Focus Financial Partners.