Blackstone Set to Report Q3 Earnings: What in the Offing?

Core Viewpoint - Blackstone is expected to report improved revenues and earnings for Q3 2024, despite a recent earnings miss due to higher expenses [1][3]. Group 1: Earnings and Revenue Estimates - The Zacks Consensus Estimate for Blackstone's earnings is 97 cents per share, reflecting a 3.2% increase year-over-year, although it has been revised 7.6% lower recently [1]. - The consensus estimate for sales is projected at $2.60 billion, indicating a 12.1% rise [2]. - Total assets under management (AUM) are estimated to reach $1.1 trillion, representing a 9.6% growth from the prior year [3]. Group 2: Segment Performance - The estimate for total management and advisory fees is $1.82 billion, suggesting a 10.2% increase [3]. - Fee-related performance revenues are expected to decline by 23.3% year-over-year, estimated at $210.6 million [3]. Group 3: Expense Trends - Blackstone has experienced elevated expenses due to increased general, administrative, and other costs, which are anticipated to rise further in Q3 as the company continues to invest in its franchises [4]. Group 4: Earnings Surprise Potential - The likelihood of Blackstone beating the Zacks Consensus Estimate for earnings is low, with an Earnings ESP of -5.20% and a Zacks Rank of 3 (Hold) [5].