CA - Brookfield Q3 operating FFO rises 30% Y/Y on strong asset management results

Brookfield ( NYSE: BAM ) posted strong funds from operations in Q3, on growth in its asset management business and "solid performance of our operations," Chief Financial Officer Nick Goodman said Thursday.

Q3 total operating FFO of $1.22B, or $0.73 per share, increased from $1.15B,or $0.69 per share, in Q2 and from $934M, or $0.56 per share, in Q3 2021.

The investment firm plans to complete the distribution to shareholders and listing of a 25% stake in its asset management business by the end of the year.

Q3 distributable EPS of $0.85, beating the Visible Alpha consensus of $0.84, rose from $0.84 in Q2 and from $0.77 in the year-ago quarter.

Inflows of $33B declined from $56B at the end of Q2.

Fee-bearing capital increased to $407B at the quarter-end from $392B at the end of the previous quarter. Fee-related earnings were $531M, up from $525M in Q2 and from $492M in the year-ago period.

The company invested and/or committed $31B of capital to new investment in the quarter, down from $36B in Q2.

Brookfield ( BAM ) generated $379M of carried interest during the quarter, down from $533M in the prior quarter.

Gross target carried interest of $4.6B annually increased from $4.3B in Q2.

Brookfield ( BAM ) has $125B of capital available to deploy into new investments, up from $111B at June 30, 2022.

Conference call at 10:00 AM ET.

Earlier, Brookfield Asset Management total FFO of $0.89 beats by $0.17, revenue of $23.42B beats by $2.48B

For further details see: