Q: Your thoughts on BAM's recent quarter and what these results suggest for parent company, BN, which I believe reports next week. Thanks.
Robert
Robert
5i Research Answer:
Distributable earnings per share were 47c, vs 40c in the prior year and estimates of 43c; distributable earnings rose 18% to $767M. Fee-related earnings were $867M, up 28% (estimate $776M). Revenue was $1.39B, slightly below estimates of $1.41B. Net income was $560M. The dividend was increased 15%. A new CEO was appointed. The stock has been weak but these are solid results with good growth. BN owns 74% of BAM so this should take some pressure off worried investors on BN.