From GlobeNewswire: 2024-05-17 07:30:00

Partners Value Investments Inc. reported a net loss of $175 million for the first quarter of 2024, compared to a net income of $242 million in the same period last year. The loss was mainly due to remeasurement losses of $214 million associated with retractable shares. Adjusted Earnings were $34 million, higher than the previous year quarter. The Partnership unit price increased by $3.11 this quarter.

The company holds interests in 121 million Class A Limited Voting Shares of Brookfield Corporation and 31 million Class A Limited Voting Shares of Brookfield Asset Management Ltd., representing approximately an 8% interest in both companies as of March 31, 2024. Additionally, the company has a diverse investment portfolio of marketable securities and private fund interests.

As of March 31, 2024, the market prices of Brookfield Corporation and Brookfield Asset Management Ltd. shares were $41.87 and $42.02, respectively. These prices increased to $44.64 and $39.97, respectively, by May 16, 2024.

The Company’s financial position as of March 31, 2024, showed cash and cash equivalents of $159,211, accounts receivable and other assets of $35,928, investments in Brookfield Corporation and Brookfield Asset Management Ltd., among others. Liabilities included accounts payable, corporate borrowings, and preferred shares, with an accumulated deficit of $3,209,162 and accumulated other comprehensive income of $5,575,227.

Investors in Partners Value Investments Inc. should be aware of potential risks and uncertainties that could impact future results, such as financial market fluctuations, changes in government regulation, and geopolitical events. The Company advises careful consideration of these factors and updates its forward-looking statements accordingly.



Read more at GlobeNewswire:: Partners Value Investments Inc. Announces Q1 2024 Interim