Apollo Global Management, Inc. APO shares are trading higher on Wednesday.On Tuesday, Apollo reported third-quarter adjusted earnings per share of $1.85, surpassing analyst estimates of $1.72 and revenue of $7.77 billion, beating the street view of $4.13 billion.Apollo said it now manages a total of $733 billion in assets, with $551 billion generating fees. Over the past year, Apollo saw $151 billion in new inflows and deployed $248 billion in capital. Apollo’s Fee Related Earnings (FRE) were $531 million, ...

Financial Data and Key Metrics Changes - The company reported record fee-related earnings of $531 million or $0.87 per share, near-record spread-related earnings of $856 million or $1.40 per share, and adjusted net income of $1.1 billion or $1.85 per share, marking the second highest level on record [5][26][30] - Fee-related earnings (FRE) reached a new quarterly record, surpassing $1.5 billion year-to-date, supported by a 20% year-over-year increase in credit management fees [27][30] - The company generated over $140 billion of inflows over the last 12 months, with credit inflows totaling $39 billion in the third quarter [28][30] Business Line Data and Key Metrics Changes - In the Retirement Services segment, the company achieved robust organic growth of $20 billion in the quarter, with net spread increasing by 16 basis points quarter-over-quarter [31][32] - The alternatives portfolio generated an 8.2% annualized return in the third quarter, with the AAA product generating a 10.5% annualized return [32][33] - Principal investing income benefited from monetizations by Fund 9, with a net accrued performance fee balance of $1.4 billion as of September 30 [34] Market Data and Key Metrics Changes - The company reported a record origination quarter with $62 billion of originations for the quarter and $194 billion year-to-date [13][30] - The company expects to maintain strong revenue growth trends supported by a diversified origination pipeline and a target of $120 billion in organic capital formation for full-year 2024 [30][31] Company Strategy and Development Direction - The company outlined a five-year plan targeting average annual FRE growth of 20%, average annual SRE growth of 10%, and capital generation of $21 billion by 2029 [9][12] - The company identified four macro trends expected to drive growth: global industrial renaissance, retirement, growth of individual investors, and public-private convergence [11][12][20] - The company aims to double its business over the next five years, focusing on the capacity to originate assets that offer excess return per unit of risk [20][21] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's ability to execute its five-year plan and capitalize on strong tailwinds in the industry [9][12] - The company anticipates continued strong performance in the retirement space and expects to see significant demand for private assets [73][74] - Management emphasized the importance of asset origination and maintaining a competitive edge in the market [20][21] Other Important Information - The company has built a third-party insurance business with approximately $100 billion of AUM, expecting it to double over the next five years [23] - The company is focused on cost discipline, with total expenses increasing by 11% year-to-date, excluding fund merger costs [30] Q&A Session Summary Question: Progress on third-party fundraising in the insurance channel - Management highlighted the collaborative nature of partnerships with competitors in the insurance space and the vast market for private investment grade assets [38][39][40] Question: Retirement outflows and future trends - Management indicated that the runoff of insurance liabilities is predictable and plans to update forecasts for 2025 [46][48] Question: Retail platform opportunities - Management discussed the evolving retail channel and the need for simpler products to penetrate the market effectively [50][52][54] Question: AAA sleeve in CIT offering and future pipeline - Management confirmed expectations for the AAA product to reach approximately $20 billion by year-end and discussed the potential for broader adoption in portfolio allocations [66][67] Question: Near-term margin expectations and distribution costs - Management stated that they do not expect margin degradation and highlighted the migration of costs from upfront fees to trailer fees [70][72]

Core Insights - Apollo Global Management Inc. reported $926 million in revenue for Q3 2024, an 11% year-over-year increase, with an EPS of $1.81 compared to $1.71 a year ago, exceeding both revenue and EPS consensus estimates [1][3] Financial Performance - Total Assets Under Management reached $733 billion, surpassing the average estimate of $724.23 billion [3] - Segment Income from Asset Management showed mixed results: - Fee Related Earnings from Management fees were $518 million, below the estimate of $696.41 million - Capital solutions fees and other net income were $159 million, slightly above the estimate of $153.31 million - Fee-related performance fees were $57 million, exceeding the estimate of $52.75 million - Overall Fee Related Earnings were $531 million, above the estimate of $515.15 million [3] - Retirement Services Segment Income showed strong performance: - Fixed income and other net investment income was $2.81 billion, above the estimate of $2.72 billion - Spread Related Earnings totaled $856 million, exceeding the estimate of $762.05 million [3] - Principal Investing Segment Income included: - Principal Investing Income of $78 million, above the estimate of $72.56 million - Realized performance fees were $331 million, significantly exceeding the estimate of $246.40 million [3] Stock Performance - Apollo Global Management shares returned +3.9% over the past month, outperforming the Zacks S&P 500 composite, which saw a -0.5% change [4]

NEW YORK, Nov. 05, 2024 (GLOBE NEWSWIRE) -- Apollo Global Management, Inc. (NYSE: APO) (together with its consolidated subsidiaries, “Apollo”) today reported results for the third quarter ended September 30, 2024. Marc Rowan, Chief Executive Officer at Apollo said, “Our strong third quarter results reflect broad-based momentum across the platform. We are building a next-generation financial services business uniquely positioned to win across massive market opportunities, and we are excited to execute on the ...

Apollo Global Management, Inc. Third Quarter 2024 Earnings Third Quarter 2024 Financial Highlights · GAAP Net Income Attributable to Apollo Global Management, Inc. Common Stockholders was $787 million for the quarter ended S $1.30 per share Apollo's primary non-GAAP earnings metric, Adjusted Net Income, which represents the sum of FRE, SRE, and PII, less HoldCo . costs and taxes, totaled $1.1 billion, or $1.85 per share, for the third quarter | --- | --- | --- | --- | |-------------------------------------- ...

OMAHA, Neb., Oct. 28, 2024 (GLOBE NEWSWIRE) -- TeleVox, the industry-leading provider of omnichannel patient relationship management platforms, has been awarded this year's Best Practices Customer Value Leadership Award in the North American patient relationship management industry by Frost & Sullivan. Frost & Sullivan Best Practices awards recognize companies across regional and global markets for demonstrating outstanding achievement and superior performance in areas such as leadership, technological inno ...

Chris Lau is an individual investor and economist with 30 years of experience covering life science, technology, and dividend-growth income stocks. He has degrees in Microbiology and Economics. Chris runs the investing group DIY Value Investing where he shares his top stock picks of undervalued stocks with catalysts for upside, dividend-income recommendations with quant and payment calendar tracking, high upside plays, and research requests to help you become a better do-it-yourself investor. Learn more.Top ...

Core Viewpoint - The Federal Communications Commission (FCC) has adopted a new regulation for georouting wireless calls to the 988 Suicide & Crisis Lifeline, which will enhance localized care for individuals in crisis and maintain a centralized routing system for the Lifeline [1][2] Company Overview - Mosaicx is a conversational AI pioneer that provides intelligent routing technology to support georouting and call routing for help seekers, ensuring specialized crisis care for diverse communities, including veterans, Spanish speakers, and LGBTQI+ members [1] - The company utilizes cloud-based solutions, conversational AI, machine learning, and natural language processing to automate interactions, enhancing customer and employee satisfaction through advanced voice recognition and digital messaging capabilities [3] Industry Impact - The FCC's decision reflects a commitment to improving the accessibility and efficiency of mental health crisis resources, which Mosaicx supports through its partnership with Vibrant Emotional Health, the administrator of the 988 Lifeline [2]

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NEW YORK, Oct. 08, 2024 (GLOBE NEWSWIRE) -- Apollo (NYSE: APO) plans to release financial results for the third quarter 2024 on Tuesday, November 5, 2024, before the opening of trading on the New York Stock Exchange. Management will review Apollo’s financial results at 8:30 am ET via public webcast available on Apollo’s Investor Relations website at ir.apollo.com. A replay will be available one hour after the event. Apollo distributes its earnings releases via its website and email lists. Those interested i ...