Brookfield (BN) Q1 2026 earnings summary

Executive summary

• Distributable earnings reached $1.6 billion for Q1 2026, up 7% year-over-year, with strong performance across all business lines and stable cash flows from operating businesses.

• Raised $67 billion in new capital year-to-date, including $21–23 billion for investment strategies and $40–44 billion of insurance capital; completed the acquisition of Just Group, increasing insurance assets by $40 billion and expanding U.K. operations.

• Announced plans to combine the Corporation and Wealth Solutions business to enhance capital efficiency and simplify the organizational structure.

• Over $1 billion of shares repurchased year-to-date, supporting shareholder returns.

• The company remains focused on long-term value creation through disciplined capital allocation and resilience across market cycles.

Financial highlights

• Q1 2026 distributable earnings were $1.6 billion ($0.66/share), up 7% year-over-year; distributable earnings before realizations were $1.4 billion ($0.59/share).

• Net income for the quarter was $1.0 billion, with revenues of $18.6 billion, up 4% year-over-year.

• Asset management generated $765–922 million of DE for the quarter, with fee-bearing capital at $613.8–$614 billion, up 12% year-over-year.

• Wealth Solutions delivered $430 million of DE in Q1, with insurance assets at $144 billion pre-acquisition and $40 billion added from Just Group.

• $17 billion of asset sales advanced in the quarter, with most sales at or above carrying value.

Outlook and guidance

• Expectation for continued strong financial momentum through 2026, with record fundraising anticipated and a focus on scaling insurance and wealth solutions.

• Wealth Solutions targets writing $25 billion of new policies in 2026, maintaining disciplined growth and mid-teens return targets.

• The combination of the Corporation and Wealth Solutions is expected to enhance capital efficiency and support future growth.

• Real estate fundamentals remain strong, with limited new supply and rising rents in core markets.

• Adoption of U.S. GAAP accounting from Q1 2027 to enhance comparability.