TORONTO, Aug. 15, 2025 (GLOBE NEWSWIRE) — Partners Value Investments L.P. ((the “Partnership”, TSX:PVF, TSX:PVF) announced today its financial results for the six months ended June 30, 2025. All amounts are stated in U.S. dollars.
The Partnership recorded a net loss of $6.2 million for the quarter ended June 30, 2025, compared to net income of $21.6 million in the prior year quarter. The decrease in income was primarily due to unfavorable foreign currency movements as a result of the appreciation of the Canadian dollar against the U.S. dollar and higher tax recoveries recorded in the prior year quarter, partially offset by higher dividend and investment income compared to the prior year quarter. A loss of $8.6 million was attributable to the Equity Limited Partners, and income of $2.4 million was attributable to Preferred Limited Partners.
On August 8, 2025, the Partnership completed a ten-for-one unit split of the outstanding equity units of the Partnership (“Unit Split”). All unit count and per-unit disclosures are presented on a post-split basis.
As at June 30, 2025, the market prices of a Brookfield Corporation ((“BN”, TSX:BN) and Brookfield Asset Management Ltd. ((“BAM”, TSX:BAM) share were $61.85 and $55.28, respectively. As at August 14, 2025, the market prices of a BN and BAM share were $65.60 and $62.11, respectively.
Consolidated Statements of Operations
For the period ended June 30, Unaudited (Thousands, US dollars) |
Three months ended | Six months ended | |||||||||||||
2025 | 2024 | 2025 | 2024 | ||||||||||||
Investment income | |||||||||||||||
Dividends | $ | 26,241 | $ | 23,429 | $ | 52,800 | $ | 47,456 | |||||||
Other investment income | 6,450 | 4,160 | 13,629 | 8,195 | |||||||||||
32,691 | 27,589 | 66,429 | 55,651 | ||||||||||||
Expenses | |||||||||||||||
Operating expenses | (1,048 | ) | (1,301 | ) | (2,400 | ) | (3,738 | ) | |||||||
Financing costs | (2,501 | ) | (2,545 | ) | (4,918 | ) | (5,026 | ) | |||||||
Retractable preferred share dividends | (11,567 | ) | (10,223 | ) | (21,608 | ) | (19,959 | ) | |||||||
17,575 | 13,520 | 37,503 | 26,928 | ||||||||||||
Other items | |||||||||||||||
Investment valuation (loss) gain | (1,218 | ) | 443 | 5,994 |