11:29 AM EST, 02/19/2025 (MT Newswires) -- iA Financial ( IAFNF ) reported fourth-quarter underlying EPS of $3.04, beating National Bank's estimate of $2.84 and consensus of $2.80. Reported EPS of $2.33 missed National's $2.49 forecast (consensus of $2.69).

According to National Bank analyst Gabriel Dechaine, IAG capped a strong full-year with a solid set of fourth-quarter results. "However, it is important to remember that this year's 20% Core EPS growth was heavily influenced by how challenging fiscal 2023 was (i.e., 4% Core EPS growth vs. initial target of ~15%).," he notes. This contrast was also relevant during the fourth quarter, especially in the Canadian Insurance segment where this year's positive P&C claims experience and new business strain levels were in stark contrast to the prior year period. "Regardless, IAG is in a strong balance sheet position, with clear business momentum and likely a higher ROE target to be delivered at next week's Investor Day."

Maintain Sector Perform, target raised to $141, from $133.

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