Oaktree Capital Group (OAK) Tops Q3 EPS by 27c, Revenues Beat

Oaktree Capital Group (NYSE: OAK) reported Q3 EPS of $0.78, $0.27 better than the analyst estimate of $0.51. Revenue for the quarter came in at $320.17 million versus the consensus estimate of $281.05 million.

GAAP net income attributable to Oaktree Capital Group, LLC (“OCG”) Class A unitholders was $52.8 million ($0.74 per unit), up from $45.8 million ($0.71) for the third quarter of 2017.
Adjusted net income was $137.5 million ($0.78 per unit), up from $131.4 million ($0.67) for the third quarter of 2017, on $320.2 million of total adjusted revenues.
Distributable earnings were $147.8 million ($0.88 per unit), up from $119.0 million ($0.74) for the third quarter of 2017, driven by higher realized investment income proceeds and incentive income.
Assets under management were $123.5 billion, up 2% for the quarter and up 1% over the last 12 months. Gross capital raised was $3.4 billion and $10.2 billion for the quarter and last 12 months, respectively. Uncalled capital commitments (“dry powder”) were $21.4 billion, of which $15.4 billion were not yet generating management fees (“shadow AUM”).
Management fee-generating assets under management were $100.7 billion, up slightly for the quarter and down 2% over the last 12 months.
A distribution was declared of $0.70 per unit, bringing aggregate distributions relating to the last 12 months to $2.97.

LOS ANGELES--(BUSINESS WIRE)-- Oaktree Capital Group, LLC (NYSE: OAK) today reported its unaudited financial results for the third quarter ended September 30, 2018.

Jay Wintrob, Chief Executive Officer, said, “The third quarter was highlighted by continued strong investment performance and solid fundraising of $3.4 billion in gross capital raised. Elevated closed-end fund realizations continued in the quarter, improving our outlookfor incentive income over the next year or two. Importantly, we remain well positioned with ample dry powder across our investment funds and significant corporate balance sheet liquidity during this time of increasing market volatility.”

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

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