Close

UPDATE: Blackstone (BX) Misses Q3 EPS by 5c

October 15, 2015 7:03 AM EDT
(Updated - October 15, 2015 7:04 AM EDT)

Blackstone (NYSE: BX) reported Q3 EPS of ($0.35), $0.05 worse than the analyst estimate of ($0.30). Revenue for the quarter came in at ($32.2) million versus the consensus estimate of ($253.7) million.

Stephen A. Schwarzman, Chairman and Chief Executive Officer, said, “Blackstone produced strong Distributable Earnings in the third quarter, reaching a record for the nine-month period. Despite declines in the public markets that affected our Economic Net Income, underlying trends in our businesses and our portfolio companies remain favorable, which is what drives value ultimately. Recent market volatility should create opportunity for us and we have raised an industry-record $97 billion of capital over the past year to pursue such opportunities. We continue to deliver attractive returns for our limited partners across all of the alternative asset classes and, on the occasion of our 30th anniversary this month, we are as unwavering in this commitment as we were when the firm was founded.”

Distributable Earnings (¡§DE¡¨) was $692 million ($0.58/unit) in the third quarter, on $470 million of Realized Performance Fees.

  • DE was $3.0 billion ($2.51/unit) year-to-date, up 54% from $1.9 billion in the same period last year, on $2.7 billion of Realized Performance Fees, up 54% year-over-year.

Fee Related Earnings (¡§FRE¡¨) was $266 million in the third quarter, up 12% from $237 million in the same period last year.

GAAP Net Income was negative $255 million for the quarter, net of certain non-cash IPO and transaction related expenses and net income attributable to non-controlling interests, primarily inside ownership.

Total Assets Under Management (¡§AUM¡¨) reached a record $333.9 billion through a combination of consistently strong fundraising and organic expansion.

  • Gross inflows were $16.1 billion in the third quarter, bringing last twelve months (¡§LTM¡¨) inflows to a record $96.9 billion.
  • Total AUM increased 17% year-over-year, despite returning $59.7 billion of capital to investors over the LTM as asset growth and above-market appreciation outpaced increased realizations.

For earnings history and earnings-related data on Blackstone (BX) click here.



Serious News for Serious Traders! Try StreetInsider.com Premium Free!

You May Also Be Interested In





Related Categories

Earnings, Hot Earnings, Management Comments

Related Entities

Earnings, IPO