BN Q3 distributable cash flow per share came in at $0.73, beating consensus analysts’ estimates of $0.68. Revenue was up in the quarter at $24.44B versus the same quarter one year prior at $23.42B. Net income per diluted share was down in Q3 coming in at $0.12, versus $0.24 in the prior year. BN continued to display strong liquidity in Q3 totalling nearly $120B. Retail and wealth flows are approximately $800M monthly, but management expects this to grow to over $1.5B monthly in 2024. BN displayed a strong Q3 with growth in earnings and revenue. Management mentioned that BN is well positioned for the rest of this year and heading into 2024 with momentum in fundraising, anticipated acquisitions in the insurance solutions business, resilience in the operating businesses, and a differentiated capital base. It continues to be one of our large-cap growth favourites.
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