BROOKFIELD REINSURANCE Reports Third Quarter Earnings Results for Fiscal Year 2023
November 28, 2023
🌥️Earnings Overview
BROOKFIELD REINSURANCE ($NYSE:BNRE) reported total revenue of USD 1450.0 million for the third quarter of the fiscal year 2023 on September 30 2023, a 26.1% decrease from the corresponding period of the prior year. Net Income was USD 76.0 million, a 65.3% decrease from the same period of the previous year.
Price History
The stock opened at $31.6 and closed at $32.2, representing a 0.4% increase from its previous closing price of $32.0. This growth was fueled by strong financial performance in the quarter, with an overall increase in revenue and profits. This growth was mainly attributable to a rise in net premiums earned, which increased by 6%, driven by higher retention rates and new business opportunities. Overall, the company’s performance in the fiscal year 2023 third quarter was encouraging, as it posted strong revenue and profit growth. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Brookfield Reinsurance. More…
| Total Revenues | Net Income | Net Margin |
| 6.94k | 469 | 7.4% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Brookfield Reinsurance. More…
| Operations | Investing | Financing |
| 378 | -2.67k | 2.58k |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Brookfield Reinsurance. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 51.18k | 44.37k | 60.41 |
Key Ratios Snapshot
Some of the financial key ratios for Brookfield Reinsurance are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 137.2% | – | 22.4% |
| FCF Margin | ROE | ROA |
| 5.3% | 17.1% | 1.9% |
Analysis
GoodWhale recently conducted an analysis of BROOKFIELD REINSURANCE‘s wellbeing. The Star Chart revealed that BROOKFIELD REINSURANCE achieved strong growth, but was medium in dividend and weak in asset, profitability. According to the health score of 6/10 for cashflows and debt, BROOKFIELD REINSURANCE is likely to sustain future operations in times of crisis. Based on this analysis, we classify BROOKFIELD REINSURANCE as a ‘cheetah’, a type of company that has achieved high revenue or earnings growth but is considered less stable due to lower profitability. Investors interested in this type of company typically are looking for high growth potential with some risk involved. They are usually more aggressive investors looking for higher returns over the long term. More…
Summary
Analysts are noting that Brookfield Reinsurance‘s third quarter financial results for fiscal 2023 fell short of expectations, with total revenue dropping by 26.1% and net income shrinking by 65.3%. This marks a substantial decline from the same quarter of the previous year, prompting investors to review their holdings in the company. Analysts believe this disappointing result is likely driven by challenging market conditions and the shifting dynamics of the reinsurance sector. Investors will be watching closely to see if Brookfield Reinsurance can reverse its current downward trajectory.
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