Brookfield Corporation ( (BN) ) has released its Q3 earnings. Here is a breakdown of the information Brookfield Corporation presented to its investors.
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Brookfield Corporation is a global investment firm that focuses on alternative asset management, wealth solutions, and operating businesses, spanning sectors such as renewable power, infrastructure, and real estate. The company is publicly traded in New York and Toronto.
In its latest earnings report, Brookfield Corporation announced record financial results for the third quarter of 2024, with distributable earnings before realizations increasing by 19% to $1.3 billion, or $0.80 per share. The company also highlighted advanced monetizations of $17 billion and new investments of $20 billion as transaction activity continues to rise.
Key highlights from the earnings report include a 14% growth in fee-related earnings in the asset management sector, driven by a significant increase in fee-bearing capital and strong fundraising momentum. Wealth solutions earnings doubled from the previous year, bolstered by acquisitions and increased annuity sales, while operating businesses showed resilient earnings, supported by growth in renewable power, infrastructure, and real estate sectors.
Looking ahead, Brookfield Corporation’s management expresses confidence in maintaining strong earnings growth into 2025 and beyond, aiming to deliver over 15% total returns to shareholders in the long term. The company plans to continue strategic capital allocations, including share buybacks, as capital markets improve and transaction activities increase.
