Brookfield (BN) Q1 2026 earnings summary

Executive summary

• Distributable earnings were $1.55 billion for Q1 2026, up 7% year-over-year, and $6.0 billion over the last 12 months, with strength across asset management, Wealth Solutions and operating businesses.

• Raised $67 billion in new capital, including $23 billion for investment strategies and $44 billion of insurance capital; Just Group acquisition increased insurance assets to $180 billion.

• Deployed $53 billion in investments and repurchased over $1 billion in shares year-to-date, with nearly $200 billion in deployable capital.

• Planned combination of BN and BNT aims to simplify the corporate structure and improve capital efficiency.

Financial highlights

• Revenue was $18.6 billion, up 4% year-over-year; net income was $1.0 billion, including $102 million attributable to shareholders ($0.03 per share).

• Distributable earnings before realizations were $1.39 billion ($0.59 per share); total distributable earnings were $1.55 billion ($0.66 per share).

• LTM distributable earnings were $5.5 billion before realizations and $6.0 billion including realizations.

• Fee-bearing capital rose to $613.8 billion; carry-eligible capital increased to $272.7 billion.

• Common equity decreased by $1.1 billion to $42.7 billion, primarily due to comprehensive losses, dividends and share repurchases.

Outlook and guidance

• Continued financial momentum and record fundraising anticipated in 2026; management targets annualized shareholder returns of 15% or more.

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

• First close of the seventh flagship private equity strategy expected in the coming months; U.S. GAAP accounting adoption planned from Q1 2027.