Onex Corporation reported a first-quarter profit of US$129 million, down from US$168 million in the same period last year, the company announced Thursday.
Financial Highlights
The Toronto-based investment firm attributed the decline to lower realized gains from its portfolio investments. Revenue for the quarter ended March 31, 2026, fell to US$1.2 billion from US$1.5 billion a year earlier.
Onex's asset management segment generated fee-related earnings of US$45 million, compared with US$48 million in the prior year. The company's private equity and credit businesses contributed to overall performance.
Segment Performance
Onex's private equity group reported a gross multiple on invested capital of 1.6 times for realized investments during the quarter. The credit segment saw net income of US$22 million, down from US$28 million.
The company ended the quarter with US$43 billion in assets under management, slightly above the US$42.5 billion reported at year-end 2025.
Outlook
CEO Gerry Schwartz said the firm remains focused on deploying capital in high-conviction opportunities across sectors. “We continue to see attractive investments in technology, healthcare, and industrials,” he stated.
Onex declared a quarterly dividend of US$0.10 per share, unchanged from the previous quarter.
