Q: Good morning,
BN earnings look pretty decent to me. What are your thoughts on the quarter?
Thanks as always.
BN earnings look pretty decent to me. What are your thoughts on the quarter?
Thanks as always.
5i Research Answer:
EPS of 66c beat estimates of 62c; revenue was $18.58B. $470M in BN shares have been purchased and cancelled this year. The plan to combine with BNT is moving forward. Distributable earnings rose 7%. Asset management reported 11% growth in fee-based earnings. $67B in funding has been raised YTD. $188B in capital is currently available. These are decent results, and investors are realizing BN did not have a private credit issue at all in the quarter. Solid results and the stock has responded.