Brookfield (BN) Q2 2026 earnings summary

Executive summary

• Distributable earnings before realizations rose 15% year-over-year to $1.4 billion for the quarter and $5.7 billion over the last 12 months, with total distributable earnings reaching $1.5 billion ($0.66/share) for the quarter and $6.2 billion ($2.61/share) for the last twelve months.

• Record fundraising of $98 billion and deployment of $100 billion into large-scale opportunities in the first half of 2026, with fee-bearing capital reaching $672 billion, up 19% year-over-year.

• Completed acquisitions of Oaktree and Just Group, expanding global insurance and credit platforms, with insurance assets growing to $191 billion.

• Shareholders approved a simplification of the capital structure, integrating insurance and investment operations and positioning for future growth.

• The business is positioned to capitalize on long-term trends in digitalization, decarbonization, and deglobalization, with a focus on AI infrastructure and energy security.

Financial highlights

• Distributable earnings before realizations were $1.4 billion ($0.61/share) for the quarter, up 15% per share year-over-year; total distributable earnings including realizations reached $1.5 billion ($0.66/share) for the quarter and $6.2 billion ($2.61/share) for the last twelve months.

• Net income attributable to shareholders for Q2 was $364 million ($0.14/share); last twelve months totaled $1.43 billion ($0.54/share).

• Fee-related earnings in Asset Management increased 20% year-over-year, with a 57% margin at share and fee-bearing capital at $672 billion.

• Wealth Solutions earnings grew 23% year-over-year, with insurance assets rising to $191 billion.

• Corporate liquidity stood at $5.6 billion, with total deployable capital at a record $210 billion.

Outlook and guidance

• Over $210 billion of deployable capital available for future investments, positioning the company to invest at scale in future opportunities.

• Management targets continued growth through large-scale investments, further monetization of mature assets, and 15%+ annualized returns to shareholders.

• Continued strong demand for flagship funds and robust fundraising pipeline.

• Shareholders approved the combination of BN and BNT, expected to close in 2026.

• Pathway to more than $300 billion of insurance assets by the end of the decade.