Partners Value Investments Inc. Announces Q1 2025 Interim Results

TORONTO, May 20, 2025 (GLOBE NEWSWIRE) — Partners Value Investments Inc. (the “Company”, TSX:PVF, PVF.PR.V, PVF.A) announced today its financial results for the three months ended March 31, 2025. All amounts are stated in U.S. dollars.

The Company recorded net income of $972 million for the three months ended March 31, 2025, compared to a net loss of $175 million in the prior year quarter. The increase in income was primarily due to current period remeasurement gains of $953 million associated with the retractable common shares compared to remeasurement losses of $214 million in the prior year quarter. The Company’s retractable common shares are classified as liabilities due to their cash retraction feature. The remeasurement gains or losses in a given period are driven by the respective depreciation or appreciation of the Partnership unit price as the retractable shares are recognized at fair value based on the quoted price of the Partnership’s Equity LP units. During the quarter, the Partnership unit price decreased by $13.71 compared to an increase of $3.11 in the prior year quarter.

Excluding retractable share and warrant liability remeasurement gains and losses, and dividends paid on retractable shares, Adjusted Earnings for the Company was $30 million for the three months ended March 31, 2025, compared to Adjusted Earnings of $34 million in the prior year quarter. Adjusted Earnings were lower in the current quarter as higher investment income and valuations gains were more than offset by the absence of foreign currency gains and tax recoveries recognized in the prior year quarter.

As at March 31, 2025, the market prices of a Brookfield Corporation ((“BN”, TSX:BN) and Brookfield Asset Management Ltd. ((“BAM”, TSX:BAM) share were $52.41 and $48.45, respectively. As at May 20, 2025, the market prices of a BN and BAM share were $58.98 and $58.82, respectively.

Consolidated Statements of Operations