Blackstone (BX) Misses Q1 EPS by 6c

Blackstone (NYSE: BX) reported Q1 EPS of $0.31, $0.06 worse than the analyst estimate of $0.37. Revenue for the quarter came in at $929.45 million versus the consensus estimate of $973.91 million.

Total Assets Under Management (“AUM”) reached a record $343.7 billion through a combination of strong fundraising and organic expansion.

• Gross inflows were $17.1 billion in the first quarter, bringing LTM inflows to $80.2 billion.
• Total AUM increased 11% year-over-year, despite returning $48.2 billion of capital to investors

Stephen A. Schwarzman, Chairman and Chief Executive Officer, said, “In the first quarter Blackstone reached a record $344 billion in total assets under management, with $80 billion of gross inflows driving 11% year-over-year AUM growth, and $17 billion of gross inflows in the first quarter alone. Global investors continue to turn to the alternatives asset class, and Blackstone in particular, to provide superior long-term investment performance in a challenging and uncertain environment, fueling these trends. Our major drawdown funds again outperformed the relevant indices in the first quarter and, while certain liquid strategies were not immune to the market turbulence in the period, as a firm we’ve never been better positioned for long-term success with our clients around the world.”

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

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