- Div/yield 0.54/6.75
Blackstone beats by $0.15, beats on revs
- Reports Q3 (Sep) economic net income of $0.69 per share, excluding non-recurring items, $0.15 better thanthe Capital IQ Consensus of $0.54; revenues rose 21.4% year/year to $1.69 bln vs the $1.39 bln Capital IQ Consensus.
- Distributable earnings +5% to $626 mln or $0.52/share.
- Corporate Private Equity carrying value increased 3.3% in the quarter driven by solid appreciation in the private portfolio, partially offset by decreases in the public portfolio. Realizations of $2.4 billion in the quarter were driven by strong activity across Corporate Private Equity, Tactical Opportunities, and Strategic Partners, bringing year-to-date realizations to $11.4 billion.
- RE: Opportunistic funds' carrying value increased 5.5% in the quarter due to strong appreciation in both the private and public investment portfolios; core+ funds' carrying value increased 3.2% in the quarter. Realizations of $3.1 billion in the quarter driven by public stock sales of Hilton companies, the sale of a U.K. office property and assets in Equity Office Properties and Trizec, bringing the year-to-date total to $14.3 billion.
- Total AUM increased 7% year-over-year to $387.4 billion driven by $62.4 billion of inflows. Fee-Earning AUM of $285.7 billion up 7% year-over-year as $54.2 billion of inflows outpaced $45.1 billion of realizations and outflows
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