Oaktree Capital Group (OAK) Misses Q3 EPS by 15c

Oaktree Capital Group (NYSE: OAK) reported Q3 adjusted EPS of $0.47, $0.15 worse than the analyst estimate of $0.62. Revenue for the quarter came in at $278.5 million versus the consensus estimate of $281.27 million.

• Assets under management and management fee-generating AUM reached record highs of $93.2 billion and $79.1 billion, respectively, as of September 30, 2014, up 17% and 18% from a year ago, on strong capital inflows, market-value gains and the Highstar acquisition.
• Gross capital raised was $4.1 billion for the third quarter of 2014, bringing the trailing twelve-month total to $16.6 billion, the highest in six years. Newer investment strategies accounted for $1.9 billion and $9.0 billion of the respective totals.
• Distributable earnings per Class A unit were $0.78 and $2.79 for the third quarter and first nine months of 2014, respectively, down from $0.91 and $4.51 for the corresponding prior-year periods, primarily on lower incentive income.

For earnings history and earnings-related data on Oaktree Capital Group (OAK) click here.

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