Brookfield Corporation (NYSE:BN) shares rose about 2% in premarket trading on Thursday after the company reported first-quarter earnings that came in ahead of analyst forecasts.
Brookfield posted distributable earnings per share of $0.66 for the quarter, surpassing the consensus estimate of $0.63 per share.
Total distributable earnings increased to $1.6 billion, compared with $1.5 billion in the same period last year. Distributable earnings before realizations climbed 7% to $1.4 billion, or $0.59 per share, up from $1.3 billion, or $0.55 per share, in the first quarter of 2025.
Asset Management and Wealth Solutions Drive Growth
“We started the year strong, with good growth in asset management, continued scaling of wealth solutions, and stable cash flows in our operating businesses,” said Nick Goodman, president of Brookfield Corporation.
Goodman added that the company has repurchased more than $1 billion worth of shares so far this year, including $470 million of BN stock and $575 million of BAM shares.
Brookfield’s asset management division recorded an 11% increase in fee-related earnings compared with the prior-year quarter, supported by strong institutional fundraising activity.
Fee-bearing capital rose 12% year over year to $614 billion. Total fundraising since the beginning of the year reached $67 billion, including $21 billion secured during the first quarter.
Wealth Solutions Business Continues to Expand
The company’s wealth solutions segment generated distributable earnings of $430 million during the quarter.
Retail and institutional annuity sales totaled $4 billion, while Brookfield deployed another $4 billion into client-managed investment strategies with an average targeted yield of 10%.
Operating Business Earnings Decline
Distributable earnings from Brookfield’s operating businesses came in at $360 million, down from $426 million in the same quarter last year.
During the quarter, the company completed approximately $17 billion in asset sales spanning infrastructure, energy, real estate and other diversified holdings.
Brookfield Plans Insurance Business Combination
Brookfield also announced plans to combine BN with its insurance business BNT in an effort to improve capital efficiency and increase financial flexibility.
The company ended the quarter with $188 billion of deployable capital available for future investments.