Brookfield Asset Management Q2 Earnings Misses Street View
Portfolio Pulse from Lekha Gupta
Brookfield Asset Management Ltd (BAM) reported Q2 2023 revenues of $985 million, missing the consensus of $1.10 billion. EPS of $0.28 also missed the consensus of $0.32. The company raised $17 billion in Q2 and committed to a $50 billion new investment year-to-date. In July, Brookfield Reinsurance Ltd (BNRE) agreed to acquire American Equity Investment Life Holding (AEL) for ~$4.3 billion. BAM shares are trading higher by 1.88% at $33.61.
August 09, 2023 | 2:41 pm
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POSITIVE IMPACT
American Equity Investment Life Holding is being acquired by Brookfield Reinsurance in a deal worth ~$4.3 billion.
The acquisition could potentially increase the value of American Equity Investment Life Holding's stock.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 50
POSITIVE IMPACT
Brookfield Reinsurance agreed to acquire American Equity Investment Life Holding in a deal worth ~$4.3 billion.
The acquisition could potentially increase Brookfield Reinsurance's assets and revenues, positively impacting the stock.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 50
NEUTRAL IMPACT
Brookfield Asset Management's Q2 2023 revenues and EPS missed consensus, but the company raised significant capital and committed to a large new investment.
While the missed earnings could negatively impact the stock, the significant capital raised and new investment commitment could offset this in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100