Brookfield’s third-quarter operating FFO increases 30% year-over-year on strong asset management results (NYSE: BAM)



Brookfield (NYSE: BAM) posted strong funds from operations in the third quarter, driven by growth in its asset management business and “the strong performance of our operations,” chief financial officer Nick Goodman said Thursday.

Total Q3 operating FFO of $1.22 billion, or $0.73 per share, increased $1.15 billion, or $0.69 per share. share, in Q2 and $934 million, or $0.56 per share, in Q3 2021.

The investment firm expects to complete the distribution to shareholders and listing of a 25% stake in its asset management business by the end of the year.

Q3 Distributable EPS of $0.85, beating the Visible Alpha consensus of $0.84, rose from $0.84 in Q2 and $0.77 in the prior year quarter.

Inflows of $33 billion were down from $56 billion at the end of the second quarter.

Fee-bearing capital increased to $407 billion at the end of the quarter, from $392 billion at the end of the prior quarter. Fee-related revenue was $531 million, compared to $525 million in the second quarter and $492 million a year ago.

The company invested and/or committed $31 billion of capital to new investments during the quarter, compared to $36 billion in the second quarter.

Brookfield (BAM) generated $379 million in deferred interest in the quarter, down from $533 million in the prior quarter.

Gross target carried interest of $4.6 billion per year increased from $4.3 billion in the second quarter.

Brookfield (BAM) has $125 billion of capital available to deploy in new investments, up from $111 billion as of June 30, 2022.

Conference call at 10:00 a.m. ET.

Previously Brookfield Asset Management’s Total FFO of $0.89 beat $0.17, revenue of $23.42B beat $2.48B


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