Q: Hi 5i, could I have your opinion on their 1st quarter results just released this morning, and forward concensus of FY24 and FY25 eps. Thx as usual!
5i Research Answer:
EPS of 27c missed estimates of 71c; revenue was $22.9B. Net income was $519M vs $424 the prior period. Distributable earnings rose to $1.22B from $1.16B. 77c vs 72c, and ahead of estimates of 70c. BN notes it has $150B in deployable cash, including $65B in cash equivalents. Consensus calls for EPS of $3.33 this year and $4.11 in 2025. The stock is close to highs yet remains cheap and we continue to like its prospects quite a lot.