Brookfield Corporation (BN) announced on Thursday that its distributable earnings for the third quarter reached $1.325 billion, or $0.84 per share, surpassing the previous year's figure of $1.150 billion, or $0.73 per share. This positive financial performance contributed to a more than 4% increase in the company's stock during pre-market trading.
The firm's distributable earnings, excluding realizations, amounted to $1.259 billion, or $0.80 per share, an improvement from $1.056 billion, or $0.67 per share, in the same period last year.
However, net income for the third quarter was reported at $64 million, or $0.01 per share, a decrease from the $230 million, or $0.12 per share, recorded in the comparable quarter of the previous year.
Revenue for the quarter experienced a decline, amounting to $20.623 billion compared to $24.441 billion in the prior year.
The Board of Brookfield Corporation has announced a quarterly dividend of $0.08 per share, scheduled for payment on December 31 to shareholders on record as of December 16.
On Wednesday, Brookfield's stock closed at $57.61, marking a 0.52% decrease. Over the past year, the stock has fluctuated between $33.61 and $59.23.
