Onex Corporation (ONEX) Earnings Call Transcripts

Onex Corporation's Latest Earnings Call - Q1 FY2026

Onex Corporation reported solid results for Q1 2026, driven by strong performance in its Convex platform and strategic partnerships, particularly with AIG. Revenue reached $1.2 billion, with adjusted net income of $106 million, reflecting a significant year-over-year increase. Management maintained a positive outlook for the remainder of the fiscal year, highlighting expected growth in earnings and asset management activities, while also indicating that the first quarter's performance should not be viewed as a full-year run rate.

Reported metrics

Guidance from management

Management maintained a positive outlook for the remainder of 2026, with expectations for continued earnings growth across Convex and asset management. They aim for a $35 million FRE run rate by year-end 2026.

What management said

Yes. So yes, you're quite right. As we sort of noted in the materials, there's about a $23 million add-on for the [indiscernible] rand and that just -- yes, and that moves the expansion loss ratio up a little bit.

Yes. So I mean, context a reasonable amount of reinsurance and as we -- and we buy that sort of through the market as we see prices soften, we might expect to see sort of reinsurance purchasing going up a little bit. And we also have outcome quota share, which was slightly under placed in Q1 of 2025. And so that will be affecting that comparative state.

What analysts pressed on

Analysts expressed concerns regarding the deceleration in gross written premiums and the impact of market conditions on premium retention. There were also questions about the sustainability of ROE in a competitive environment.

Main topics on the call

• Convex Performance — Convex reported adjusted net income of $106 million, which excludes a $50 million unrealized mark-to-market loss. Management noted, "Convex delivered a strong quarter with underwriting performance, profitability and retu...
• Strategic Partnership with AIG — Onex highlighted the strategic partnership with AIG, which includes a $2 billion commitment to Onex's asset management strategies. Management stated, "We expect AIG's capital commitment to be accretive to FRE and to shar...
• Asset Management Growth — The asset management segment is expected to see growing run rate management fees, with a target of $35 million by the end of 2026. Management indicated that "FRE will be back loaded and annualizing Q1 is not representati...
• Market Conditions and Premium Growth — Management noted a 4% year-over-year decline in insurance pricing but emphasized that Convex is still expected to grow premiums by about 8% when excluding one-time reinstatement premiums. They stated, "We still believe t...

Read the full Onex Corporation transcript (Q1 FY2026) → Summary generated from the call transcript; every figure above is stated by management on the record.

Earnings Call History

EarningsCalls.dev has 32 Onex Corporation earnings call transcripts on record, spanning February 28, 2020 to August 13, 2026. Based on this history, Onex Corporation reports quarterly. The most recent call on file is dated August 13, 2026. The full list is below — each row opens the complete, free-to-read transcript.

Ticker

ONEX

Exchange

TSX

Country

CA

Sector

Financials

Industry

Capital Markets

Calls on record

32

First call

February 28, 2020

Most recent

August 13, 2026

Reporting cadence

quarterly