Brookfield Corporation Q3 2026 earnings review

Q3 distributable earnings per share rose 16% to $0.73, and net income rose to $1.9B.

Brookfield Corporation · Q3 2026 · Published Nov 12, 2026 · By DeepCell AI · Sources

Brookfield Corporation Q3 2026 earnings review

Quarter ended September 30, 2026

For information only, not investment advice. No rating or price target.

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1 · Brookfield Corporation (BN) Q3 2026 earnings review

Q3 distributable earnings per share rose 16% to $0.73, and net income rose to $1.9B

  1. 1.DE per share of $0.73 compared with the $0.72 Nasdaq.com consensus
  2. 2.DE before realizations rose 14% per share to $0.64, as stated
  3. 3.Wealth solutions DE rose 22%, and fee-related earnings rose 15%, as stated
  4. 4.Capital raised was $25B in the quarter, and fee-bearing capital reached $682B
  5. 5.Share repurchases reached $889M year-to-date
  6. 6.Shares traded at $42.40 in pre-market trading (7:52 AM EST, Nov 12), +0.8% vs. the Nov 11 close

Note: Growth rates are as stated in the release. Net income is consolidated and includes non-controlling interests. The pre-market change is a DeepCell calculation vs. the Nov 11 close of $42.06; it is not a closing price.Source: Brookfield Corporation Q3 2026 results, Form 6-K Exhibit 99.1, Nov 12, 2026; Nasdaq.com, Nov 12, 2026; CNBC, Nov 12, 2026 pre-market

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2 · Executive summary

Q3 DE per share of $0.73 was $0.01 above the Nasdaq.com consensus

Q3 2026 DE per share vs. Nasdaq.com consensus (Nov 12, 2026)

MetricActualConsensusVarianceResult
Q3 DE per share$0.73$0.72+$0.01 / +1.4%Beat

Share price, Nov 11 close to Nov 12 pre-market

Brookfield Corporation (NYSE)Nov 11 closeNov 12 pre-market, 7:52 AM ESTChange ($)Change (%)
BN$42.06$42.40+$0.34+0.8%

Prices are from the CNBC quote page. The Nov 12 figure is a pre-market trade, not a close. CNBC does not state a reason for the move.

Note: DE is distributable earnings. The Nasdaq.com estimate is compared with total DE per share, because its Sep 2025 actual of $0.63 matches official Q3 2025 DE per share. Diluted EPS under IFRS was $0.54. DE is a non-IFRS measure.Source: Brookfield Corporation Q3 2026 results, Form 6-K Exhibit 99.1, Nov 12, 2026; Nasdaq.com, Nov 12, 2026; CNBC, Nov 12, 2026 pre-market

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3 · Q3 results vs. consensus

Distributable earnings rose to $1,718M from $1,487M, and realized carried interest rose to $222M

  1. DE before realizations roseDE before realizations was $1,496M, or $0.64 a share, compared with $1,333M a year earlier.
  2. Net income roseConsolidated net income was $1,914M. Net income to Brookfield shareholders was $1,305M, or $0.54 a diluted share.
  3. Last twelve months reached a recordLTM DE before realizations was $5,815M, or $2.47 a share.

Q3 key financials

$M unless notedQ3 2025Q3 2026
DE before realizations$1,333M$1,496M
Realized carried interest, net$154M$222M
Distributable earnings$1,487M$1,718M
DE per share ($)$0.63$0.73
Net income to shareholders$219M$1,305M
Diluted EPS ($)$0.08$0.54

Note: DE is distributable earnings, a non-IFRS measure reconciled to net income in the release. Per-share amounts reflect the three-for-two stock split completed on October 9, 2025. LTM is the last twelve months.Source: Brookfield Corporation Q3 2026 results, Form 6-K Exhibit 99.1, Nov 12, 2026; analysis of company data

4

4 · Q3 key financials

Asset management DE rose to $755M, and wealth solutions DE rose to $511M

  1. Asset management grewAsset management DE was $755M, or 50.5% of DE before realizations (DeepCell calculation).
  2. Wealth solutions grew fastestWealth solutions DE rose 22%, as stated, to $511M.
  3. Operating businesses roseOperating businesses DE was $467M, including $236M from Brookfield Property Group.

DE by business, Q3 2025 vs Q3 2026

$MQ3 2025Q3 2026
Asset management$687M$755M
Wealth solutions$420M$511M
Operating businesses$366M$467M
Corporate costs and other-$140M-$237M
DE before realizations$1,333M$1,496M

Note: DE is distributable earnings; BIP is Brookfield Infrastructure; BEP is Brookfield Renewable; BBUC is Brookfield Business Corporation. Corporate costs and other are shown as negatives, as in the release. Operating businesses include BIP, BEP, BBUC, BPG and other investments.Source: Brookfield Corporation Q3 2026 results, Form 6-K Exhibit 99.1, Nov 12, 2026; analysis of company data

5

5 · Distributable earnings by business

Total DE rose to $1,718M from $1,487M, and DE per share rose 16%, as stated

Distributable earnings

$M, Q3 2025 vs Q3 2026

v · Q3 2025: $1,487Mv · Q3 2026: $1,718MQ3 2025Q3 2026$0M$500M$1,000M$1,500M$2,000M$1,487M$1,718M
“Our asset management business raised $25 billion, wealth solutions delivered 22% earnings growth, and our operating businesses continued to generate resilient cash flows.” Nick Goodman, President

Note: DE includes realized carried interest, net. DE before realizations excludes it.Source: Brookfield Corporation Q3 2026 results, Form 6-K Exhibit 99.1, Nov 12, 2026; analysis of company data

6

6 · Distributable earnings

Fee-bearing capital rose 13% to $682B, as stated, and $25B was raised in the quarter

  1. Fundraising reached $123 billion this yearCapital raised through the third quarter totaled $123B, including $25B in the quarter.
  2. The infrastructure flagship gained commitmentsAfter quarter-end, the infrastructure flagship received $13B of new commitments, for $26B in total.
  3. Fee-related earnings rose 15%Fee-related earnings rose 15%, as stated, compared with the prior-year quarter.

Asset management metrics

MetricQ3 2026
Capital raised in the quarter$25B
Capital raised through Q3$123B
Fee-bearing capital$682B
Asset management DE$755M

Note: DE is distributable earnings. Fundraising and fee-bearing capital are as stated in Brookfield Corporation’s release. The company expects to finalize the infrastructure fund’s first close in the coming weeks.Source: Brookfield Corporation Q3 2026 results, Form 6-K Exhibit 99.1, Nov 12, 2026; analysis of company data

7

7 · Fundraising and fee-bearing capital

Wealth solutions DE rose to $511M from $420M, and insurance assets neared $200B

Wealth solutions DE

$M, Q3 2025 vs Q3 2026

v · Q3 2025: $420Mv · Q3 2026: $511MQ3 2025Q3 2026$0M$200M$400M$600M$420M$511M
Annuity sales were $4B, and $13B of capital was deployed. The portfolio net yield was 5.7%, and the P&C combined ratio was 99.6%.

Note: DE is distributable earnings; P&C is property and casualty. Insurance assets include the Just Group acquisition completed in the prior quarter. The net yield rose 16 basis points from the prior quarter, as stated.Source: Brookfield Corporation Q3 2026 results, Form 6-K Exhibit 99.1, Nov 12, 2026; analysis of company data

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8 · Wealth solutions

Consolidated net income rose to $1,914M from $284M, as fair value changes turned positive

Net income, consolidated

$M, Q3 2025 vs Q3 2026

v · Q3 2025: $284Mv · Q3 2026: $1,914MQ3 2025Q3 2026$0M$500M$1,000M$1,500M$2,000M$284M$1,914M
Fair value changes were $1,152M, compared with a loss of $736M a year earlier. Equity accounted income was $1,322M.

Note: Consolidated net income includes amounts attributable to non-controlling interests. Net income attributable to Brookfield shareholders was $1,305M.Source: Brookfield Corporation Q3 2026 results, Form 6-K Exhibit 99.1, Nov 12, 2026; analysis of company data

9

9 · Net income

Share repurchases reached $889M this year, and deployable capital was $207B

  1. Buybacks continuedThe company repurchased over $300M of Class A shares since its last report.
  2. The dividend was declaredA cash distribution of $0.07 per share is payable on December 31, 2026.
  3. Corporate liquidity stayed highLiquidity at the Corporation was $5.4B. The Corporation issued $600M of five-year senior notes.

Capital returns and liquidity

MetricLatest reading
Share repurchases, year-to-date$889M
Quarterly dividend per share ($)$0.07
Deployable capital$207B
Liquidity at the Corporation$5.4B
Asset sales, year-to-date$53B

Note: Deployable capital includes corporate liquidity, affiliate cash, financial assets and undrawn lines, and uncalled private fund commitments, as stated. The company expects to complete its corporate simplification on December 1, 2026.Source: Brookfield Corporation Q3 2026 results, Form 6-K Exhibit 99.1, Nov 12, 2026; analysis of company data

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10 · Capital returns and liquidity

Corporate borrowings rose to $16,056M, and total assets rose to $553B

  1. Most debt is non-recourseNon-recourse borrowings of managed entities were $266.0B at Sep 30, 2026.
  2. Common equity was stableCommon equity was $42,991M, compared with $43,796M at Dec 31, 2025.
  3. Corporate debt is long-datedCorporate debt has a weighted-average term of 14 years and no remaining 2026 maturities, as stated.

Balance sheet, Dec 31, 2025 vs Sep 30, 2026

$MDec 31, 2025Sep 30, 2026
Cash and cash equivalents$16,242M$14,238M
Corporate borrowings$14,301M$16,056M
Non-recourse borrowings$245,311M$266,013M
Total equity$166,194M$175,492M
Total assets$518,971M$552,878M

Note: Balance sheet figures are consolidated and unaudited. Total equity includes non-controlling interests of $128,415M at Sep 30, 2026.Source: Brookfield Corporation Q3 2026 results, Form 6-K Exhibit 99.1, Nov 12, 2026; analysis of company data

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11 · Balance sheet and debt

Carried interest timing, fair value swings and the corporate simplification are the main watch items

Indicator
What to watch
Implication
Latest reading
Carried interest timing
Realizations depend on asset sales
Realized carry can vary by quarter
Q3 carry $222M
Fair value changes
IFRS net income moves with valuations
Net income can differ from DE
Q3 fair value $1,152M
Corporate simplification
Completion is expected on December 1, 2026
New shares are expected to trade from December 3
Elections close November 25

DE is distributable earnings. Source: Brookfield Corporation Q3 2026 results, Form 6-K Exhibit 99.1, Nov 12, 2026; analysis of company data

12

12 · Key risks to outlook

13 · Appendix: DE detail

14 · Appendix: Operating businesses

15 · Appendix: Monetizations

Appendix: income statement detail

Revenues and costs

$M unless notedQ3 2025Q3 2026YoY
Revenues$18,917M$20,691M9.4%
Direct costs$11,941M$13,464Mn.m.
Equity accounted income$543M$1,322Mn.m.
Depreciation and amortization$2,691M$2,747Mn.m.

Net income

$M unless notedQ3 2025Q3 2026YoY
Fair value changes-$736M$1,152Mn.m.
Net income$284M$1,914Mn.m.
Net income to shareholders$219M$1,305Mn.m.
Diluted EPS ($)$0.08$0.54n.m.

Note: The revenue YoY rate is a DeepCell calculation. n.m. means a percentage change is not shown.Source: Brookfield Corporation Q3 2026 results, Form 6-K Exhibit 99.1, Nov 12, 2026; analysis of company data

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16 · Appendix: Income statement

Appendix: sources

  • Results release, Q3 2026 (Form 6-K Exhibit 99.1, filed Nov 12, 2026) — https://www.sec.gov/Archives/edgar/data/1001085/000117184326007374/exh_991.htm
  • Form 6-K filing index, accession 0001171843-26-007374 — https://www.sec.gov/Archives/edgar/data/1001085/000117184326007374/0001171843-26-007374-index.htm
  • Investor relations press releases — https://bn.brookfield.com/events-news/press-releases
  • Consensus: Nasdaq.com BN earnings forecast, fetched Nov 12, 2026 — https://www.nasdaq.com/market-activity/stocks/bn/earnings
  • Share price: CNBC BN quote, Nov 11, 2026 close $42.06 and Nov 12, 2026 pre-market $42.40 at 7:52 AM EST — https://www.cnbc.com/quotes/BN
  • This page covers Brookfield Corporation (BN). It does not use figures from Brookfield Asset Management (BAM). Figures are IFRS, unaudited, in U.S. dollars.
  • Chart and table values link to the model in the spreadsheet tabs of this file.

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17

17 · Sources

Important disclosures and disclaimer

For information only. This presentation is provided for information only. It is not investment, legal, tax or accounting advice, and it is not an offer, or a solicitation of an offer, to buy or sell any security.

No recommendation. It carries no rating, price target or buy, sell or hold view, and it was prepared without regard to any reader’s investment objectives, financial situation or needs.

Sources and accuracy. Company figures come from Brookfield Corporation’s Q3 2026 results press release, filed as Exhibit 99.1 to a Form 6-K on November 12, 2026. Consensus estimates (Nasdaq.com) and share prices (CNBC) are third-party data, credited on the sources page.

Basis of presentation. Figures are IFRS unless labelled non-IFRS, in U.S. dollars, for the quarters ended September 30, 2026 and 2025. Distributable earnings is a non-IFRS measure.

Forward-looking statements. Company commentary, consensus estimates and the watch items in this deck are forward-looking and may not be achieved. Readers should check the figures against the original release.

Date of analysis. Share prices are the CNBC Nov 11, 2026 close and a Nov 12, 2026 pre-market trade at 7:52 AM EST.

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18

18 · Disclosures

Sources

Not investment advice; no rating or price target.

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