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    BAM.A   CA1125851040

BROOKFIELD ASSET MANAGEMENT INC.

(BAM.A)
  Report
Delayed Toronto Stock Exchange  -  01:35 2022-10-05 pm EDT
59.16 CAD   -1.22%
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Brookfield reports profit fell in the second quarter, revenue up

08/11/2022 | 08:24am EDT

Brookfield Asset Management Inc. reported second-quarter net income attributable to common shareholders that was lower than the previous year, as revenue rose.

The alternative asset manager, which keeps its books in U.S. dollars, says its net income attributable to common shareholders was US$590 million or 34 cents per diluted share for the quarter ended June 30, down from US$816 million or 49 cents per diluted share a year earlier.

Revenue totalled US$23.26 billion, up from US$18.29 billion in the second quarter of 2021.

Funds from operations for the quarter totalled US$1.4 billion or 84 cents per share, down from US$1.6 billon or US$1.01 per share a year earlier.

Brookfield says its distributable earnings were US$1.19 billion, down from US$1.23 billion a year earlier.

Brookfield reported record inflows of US$56 billion since the end of the last quarter and says its fundraising outlook remains strong.

Nick Goodman, CFO at Brookfield, said in a statement that the firm nowhas "a record of US$111 billion of cash and capital available for investment."

This report by The Canadian Press was first published Aug. 11, 2022.

Companies in this story: (TSX:BAM.A)

© 2022 The Canadian Press. All rights reserved., source Canadian Press DataFile

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Financials (USD)
Sales 2022 84 984 M - -
Net income 2022 - - -
Net Debt 2022 142 B - -
P/E ratio 2022 13,3x
Yield 2022 1,29%
Capitalization 69 105 M 68 536 M -
EV / Sales 2022 2,48x
EV / Sales 2023 2,30x
Nbr of Employees 180 000
Free-Float 75,7%
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Mean consensus OUTPERFORM
Number of Analysts 13
Last Close Price 44,17 $
Average target price 53,33 $
Spread / Average Target 20,7%
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Managers and Directors
James Bruce Flatt Chief Executive Officer & Director
Nicholas Goodman Chief Financial Officer & Senior Managing Partner
Frank J. McKenna Chairman
Dominic Dodds Managing Director-Technology
Lori A. Pearson Chief Operating Officer & Senior Managing Partner
Sector and Competitors