Brookfield Asset Management Ltd. (BAM) has announced its upcoming annual meeting of shareholders, scheduled for May 5, 2025, in New York. The agenda includes several key items, notably the receipt of the consolidated financial statements for the fiscal year ended December 31, 2024. Shareholders will also vote on the election of directors, the appointment of the external auditor, and an advisory resolution on BAM's executive compensation approach.
The financial statements for the fiscal year ended December 31, 2024, will be a focal point of the meeting. Shareholders are likely to scrutinize the company's financial performance over the past year, seeking insights into its profitability, liquidity, and overall financial health.
In the previous fiscal year, BAM reported revenues of $69.87 billion, representing a 6% increase from the prior year's figure of $65.97 billion. This demonstrates the company's ability to generate higher top-line growth during the period.
Furthermore, BAM's net income for the fiscal year ended December 31, 2024, stood at $6.2 billion, reflecting a notable 18% increase compared to the previous year's net income of $5.25 billion. This uptick in net income signals improved profitability and operational efficiency.
Additionally, the company's cash flow from operations for the fiscal year ended December 31, 2024, amounted to $11.8 billion, marking a substantial 25% surge from the prior year's cash flow of $9.44 billion. This robust increase in cash flow underscores BAM's enhanced ability to generate cash from its core business activities.
Following these announcements, the company's shares moved -6.0%, and are now trading at a price of $44.23. If you want to know more, read the company's complete 8-K report here.
