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Brookfield Asset Management (NYSE:BAM) stock slid 2.3% in Wednesday morning trading after the asset manager posted Q4 revenue that matched the average Wall Street estimate.
Q4 revenue of $1.13B, meeting the average analyst estimate, increased from $893M in the previous quarter and was little changed from $1.13B a year ago.
Q4 distributable EPS of $0.36, vs. the $0.34 consensus, edged up from the $0.35 earned in both Q3 and Q4 2022.
"With interest rates stabilizing and significant dry powder available, we expect a very active period of transaction activity in the coming year, with valuations for real assets responding accordingly," said BAM President Connor Teskey.
Brookfield Asset Management (BAM) raised its quarterly dividend by 19% to $0.38 per share.
The company raised $37B of capital during the quarter, compared with $26B in Q3. It raised $93B for the year.
Fee-related earnings of $581M climbed from $565M in the prior quarter and $576M a year earlier.
Total assets under management rose to $916B from $865B at Sept. 30, 2023. Fee-bearing capital stood at $457B at the end of Q4 2024, up 4% from the prior quarter and 9% from a year ago.
Some $15B of capital was deployed in the quarter vs. $18B in Q3.
The company has $107B of uncalled commitments, also called dry powder, that's ready to deploy, up from $102B in the previous quarter.
Q4 compensation, operating, and general and administrative expenses of $415M rose from $307M in Q3 and $205M in Q4 2022.
Conference call at 11:00 AM ET.