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Investment Q&A

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Brookfield Corporation Class A Limited Voting Shares (BN)
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Q: Hi Team,
I haven't seen any comments regarding Bn earnings yet. How did the quarter and guidance look to you? Would you be buying at today's levels? Thanks

Shane.

Asked by Shane on February 09, 2024

5i Research Answer:

EPS of 42c did miss estimates of 47c. Profit fell 12%, largely on real estate weakness. Distributable earnings were 83c, down from 94c last year. The insurance division rose 49%; other divisions showed small gains. Real estate was down 13%. The dividend was increased 14%. BN bought back $600M shares last year and plans a $1B buyback this year. The CEO said he expects real estate 'to turn' and fee-generating asset growth looks good. We are comfortable buyers.

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