{"id":812602,"date":"2025-02-13T06:50:30","date_gmt":"2025-02-13T11:50:30","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/brookfield-corporation-reports-record-2024-results\/"},"modified":"2025-02-13T06:50:30","modified_gmt":"2025-02-13T11:50:30","slug":"brookfield-corporation-reports-record-2024-results","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/brookfield-corporation-reports-record-2024-results\/","title":{"rendered":"Brookfield Corporation Reports Record 2024 Results"},"content":{"rendered":"
\n

\n Distributable<\/em>
\n Earnings Before Realizations Increased <\/em>
\n 15%<\/em>
\n to a Record\u00a0<\/em>
\n $4.9 billion<\/em>
\n or <\/em>
\n $3.07<\/em>
\n Per Share<\/em>\n <\/p>\n

\n Quarterly Dividend Raised by 13%<\/em>\n <\/p>\n

BROOKFIELD, NEWS, Feb. 13, 2025 (GLOBE NEWSWIRE) — Brookfield Corporation (NYSE: BN, TSX: BN) announced record financial results for the year ended December 31, 2024.<\/p>\n

Nick Goodman, President of Brookfield Corporation, said, \u201cWe delivered record financial results in 2024, with strong contributions from each of our businesses. Our asset management business had inflows of over $135\u00a0billion, our wealth solutions business is now firmly established as a top-tier annuity writer in the U.S., and our operating businesses continue to generate high-quality and stable cash flows.\u201d<\/p>\n

He continued, \u201cWe expect the positive momentum in each of our businesses to continue this year. Our access to scale capital remains very strong and with transaction activity expected to pick up throughout 2025, we are well positioned to continue to generate strong growth in our cash flows and intrinsic value.\u201d<\/p>\n

\n Operating Results <\/strong>\n <\/p>\n

Distributable earnings (\u201cDE\u201d) before realizations increased by 24% and 15% on a per share basis compared to the prior year periods.<\/p>\n\n\n\n\n\n\n\n\n\n\n\n
\n Unaudited<\/em>
\n
\n For the periods ended December 31<\/em>
\n
\n (US$ millions, except per share amounts)<\/em>
\n \n <\/td>\n		\n Three Months Ended<\/em>\n <\/td>\n\u00a0<\/td>\n\n Years Ended<\/em>\n <\/td>\n<\/tr>\n
\u00a0<\/td>\n\n
\n 2024<\/em>
\n <\/strong>\n <\/td>\n		\u00a0<\/td>\n\u00a0<\/td>\n\n 2023<\/em>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n
\n 2024<\/em>
\n <\/strong>\n <\/td>\n		\u00a0<\/td>\n\u00a0<\/td>\n\n 2023<\/em>\n <\/td>\n<\/tr>\n
Net income of consolidated business1<\/sup><\/td>\n\n $<\/strong>\n <\/td>\n\n 101<\/strong>\n <\/td>\n\u00a0<\/td>\n$<\/td>\n3,134<\/td>\n\u00a0<\/td>\n\n $<\/strong>\n <\/td>\n\n 1,853<\/strong>\n <\/td>\n\u00a0<\/td>\n$<\/td>\n5,105<\/td>\n<\/tr>\n
Net income attributable to Brookfield shareholders2<\/sup><\/td>\n\u00a0<\/td>\n\n 432<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n699<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n 641<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n1,130<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Distributable earnings before realizations2,3<\/sup><\/td>\n\u00a0<\/td>\n\n 1,498<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n1,209<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n 4,871<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n4,223<\/td>\n<\/tr>\n
\u2013\u00a0Per Brookfield share2,3<\/sup><\/td>\n\u00a0<\/td>\n\n 0.94<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n0.76<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n 3.07<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n2.66<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Distributable earnings2,3<\/sup><\/td>\n\u00a0<\/td>\n\n 1,606<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n1,312<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n 6,274<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n4,806<\/td>\n<\/tr>\n
\u2013\u00a0Per Brookfield share2,3<\/sup><\/td>\n\u00a0<\/td>\n\n 1.01<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n0.83<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n3.96<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n3.03<\/td>\n<\/tr>\n<\/table>\n

\n
\n See endnotes on page <\/em>
\n 8<\/em>
\n .<\/em>
\n <\/sub>\n <\/p>\n

Total consolidated net income was $101\u00a0million in the quarter and $1.9\u00a0billion for the year. Distributable earnings before realizations were a record $1.5\u00a0billion ($0.94\/share) for the quarter and $4.9\u00a0billion ($3.07\/share) for the year.<\/p>\n

Our asset management business generated a 17% increase in fee-related earnings compared to the prior year quarter, benefiting from strong fundraising momentum and the scaling of its credit platform through strategic partnerships.<\/p>\n

Wealth solutions earnings nearly doubled compared to the prior year, on the back of the acquisition of American Equity Life (\u201cAEL\u201d), organic growth and the attractive returns on our investment portfolio.<\/p>\n

Our operating businesses continue to deliver stable and growing cash flows, underpinned by the strong earnings of our renewable power and transition, infrastructure and private equity businesses and 4% growth in same-store net operating income (\u201cNOI\u201d) from our core real estate portfolio.<\/p>\n

During the quarter and for the year, earnings from realizations were $108\u00a0million and $1.4\u00a0billion, with total DE for the quarter and for the year of $1.6 billion ($1.01\/share) and $6.3 billion ($3.96\/share), respectively.<\/p>\n

\n Regular Dividend Declaration<\/strong>\n <\/p>\n

The Board declared a 13% increase in the quarterly dividend for Brookfield Corporation to $0.09 per share (representing $0.36 per annum), payable on March 31, 2025 to shareholders of record as at the close of business on March 14, 2025. The Board also declared the regular monthly and quarterly dividends on our preferred shares.<\/p>\n

\n Operating Highlights<\/strong>\n <\/p>\n

\n Distributable earnings before realizations were a record <\/em>
\n $1.5 billion<\/em>
\n (<\/em>
\n $0.94<\/em>
\n \/share) for the quarter and <\/em>
\n $4.9\u00a0billion<\/em>
\n (<\/em>
\n $3.07<\/em>
\n \/share) for the <\/em>
\n year<\/em>
\n , representing an increase of <\/em>
\n 24%<\/em>
\n and <\/em>
\n 15%<\/em>
\n on a per share basis over the prior year periods, respectively. Total distributable earnings were <\/em>
\n $1.6 billion<\/em>
\n (<\/em>
\n $1.01<\/em>
\n \/share) for the quarter and <\/em>
\n $6.3\u00a0billion<\/em>
\n (<\/em>
\n $3.96<\/em>
\n \/share) for the <\/em>
\n year<\/em>
\n .<\/em>\n <\/p>\n

\n Asset Management: <\/em>\n <\/p>\n