Blackstone Gears Up to Report Q4 Earnings: What's in the Cards for BX?

Core Viewpoint - Blackstone is expected to report increased revenues and earnings for Q4 and full-year 2024, with significant year-over-year growth anticipated in both metrics [1][4]. Group 1: Earnings and Revenue Estimates - The Zacks Consensus Estimate for Blackstone's earnings is $1.50 per share, reflecting a 35.1$3.82 billion, indicating a 50.8% increase year-over-year [4] - Blackstone's third-quarter 2024 earnings exceeded the Zacks Consensus Estimate, driven by higher segment revenues and increased assets under management (AUM) [2] Group 2: Assets Under Management (AUM) - Blackstone has seen growth in fee-earning AUM and total AUM, with the total AUM estimated at $1.13 trillion, an 8.8$842.8 billion, suggesting a rise of 10.5% [5] Group 3: Revenue Components - The Zacks Consensus Estimate for total management and advisory fees is $1.87 billion, indicating a 13$1.2 billion, a significant increase from $169 million in the prior-year quarter [6] - Revenues from realization activities are preliminarily estimated to exceed$775 million for the quarter, comprising 95% of realized performance revenues [7] Group 4: Expense Considerations - Blackstone's expenses have been elevated due to increased general, administrative, and other costs, with expectations of further increases in Q4 as the company continues to invest in its franchises [9] Group 5: Earnings Surprise History - Blackstone has a history of earnings surprises, having surpassed the Zacks Consensus Estimate in two of the last four quarters, with an average surprise of 6.20% [3]