TORONTO, May 20, 2025 (GLOBE NEWSWIRE) — Partners Value Investments L.P. ((the “Partnership”, TSX:PVF, TSX:PVF) announced today its financial results for the three months ended March 31, 2025. All amounts are stated in U.S. dollars.
The Partnership recorded net income of $24.6 million for the three months ended March 31, 2025, compared to net income of $26.3 million in the prior year quarter. Net income was in line with the prior year quarter as higher investment income and valuation gains were offset by the absence of foreign currency gains and tax recoveries recognized in the prior year quarter. Income of $22.2 million was attributable to the Equity Limited Partners ($0.32 per Equity LP unit) and income of $2.4 million was attributable to Preferred Limited Partners.
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
| (Unaudited) For the three months ended March 31 (Thousands, US dollars) |
|||||||||
| 2025 | 2024 | ||||||||
| Investment income | |||||||||
| Dividends | $ | 26,559 | $ | 24,027 | |||||
| Other investment income | 7,179 | 4,035 | |||||||
| 33,738 | 28,062 | ||||||||
| Expenses | |||||||||
| Operating expenses | (1,352 | ) | (2,437 | ) | |||||
| Financing costs | (2,417 | ) | (2,481 | ) | |||||
| Retractable preferred share dividends | (10,041 | ) | (9,736 | ) | |||||
| (13,810 | ) | (14,654 | ) | ||||||
| Other items | |||||||||
| Investment valuation gains | 7,212 | 924 | |||||||
| Amortization of deferred financing costs | (912 | ) | (884 | ) | |||||
| Foreign currency (losses) … | |||||||||