KKR & Co. Inc. (NYSE:KKR) Q3 2024 Earnings Conference Call October 24, 2024 10:00 AM ET Company Participants Craig Larson - Partner and Head of IR Scott Nuttall - Co-Chief Executive Officer Rob Lewin - Chief Financial Officer Conference Call Participants Craig Siegenthaler - Bank of America Glenn Schorr - Evercore ISI Alexander Blostein - Goldman Sachs Bill Katz - TD Cowen Brian McKenna - Citizens JMP Steven Chubak - Wolfe Research Patrick Davitt - Autonomous Research Michael Brown - Wells Fargo Brian Bedel ...

KKR & Co. Inc. (KKR) has reported a third-quarter 2024 adjusted net income per share of $1.38, which surpassed the Zacks Consensus Estimate of $1.18. However, the bottom line increased 56.8% from the prior-year quarter.Find the latest earnings estimates and surprises on the Zacks Earnings Calendar.Results primarily reflected impressive growth in assets under management (AUM) and record transaction fees for the capital markets business. However, increased expenses acted as headwinds.Net income attributable t ...

For the quarter ended September 2024, KKR & Co. Inc. (KKR) reported revenue of $1.42 billion, up 56.8% over the same period last year. EPS came in at $1.38, compared to $0.88 in the year-ago quarter.The reported revenue compares to the Zacks Consensus Estimate of $1.23 billion, representing a surprise of +15.53%. The company delivered an EPS surprise of +16.95%, with the consensus EPS estimate being $1.18.While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and ...

Financial Performance - KKR reported GAAP Net Income of $0.7 billion for Q3 2024, compared to $1.5 billion in Q3 2023, and $2.0 billion year-to-date[7]. - Total Revenues for Q3 2024 were $4.79 billion, up 44% from $3.32 billion in Q3 2023[8]. - Adjusted Net Income (ANI) was $1.2 billion in Q3 2024, reflecting a 53% increase year-over-year[9]. - Total Operating Earnings (TOE) for Q3 2024 were $1.3 billion, up 71% from $767 million in Q3 2023[10]. - KKR's total segment earnings for Q3 2024 were $1.63 billion, up 53% from $1.07 billion in Q3 2023[10]. - KKR's share of adjusted revenues from 18 businesses was $3.6 billion for the second quarter of 2024[33]. - The company reported net income of $654.6 million for Q3 2024, down from $1.47 billion in Q3 2023, reflecting a decrease of 55.6%[52]. - Adjusted Net Income for Q3'24 was $1,235,503, up from $779,731 in Q3'23, indicating a 58.5% growth[57]. - Total Operating Earnings for Q3'24 were $1,315,021, a significant increase from $767,552 in Q3'23, reflecting a 71.4% rise[57]. - The company reported a year-to-date Net Income of $2,004,690 for Q3'24, compared to $2,640,085 for the same period in the previous year[56]. Assets Under Management (AUM) - Assets Under Management (AUM) grew to $624 billion, an 18% increase from the previous year[9]. - Assets Under Management (AUM) reached $624 billion, up 18% year-over-year, with $24 billion of organic new capital raised in the quarter[17]. - Fee Paying AUM increased to $506 billion, up 19% year-over-year, with $25 billion of organic new capital raised in the last twelve months[17]. - Global Atlantic's assets under management (AUM) totaled $187 billion, with $140 billion in credit AUM[31]. - Total assets under management reached $516.8 billion, with $107.6 billion in uncalled commitments[44]. Capital Raising and Investments - New Capital Raised in Q3 2024 was $24 billion, contributing to a total of $118 billion year-to-date[9]. - New capital raised in the Private Equity segment was $2.49 billion for 3Q'24, with AUM increasing to $190 billion, a 10% year-over-year growth[21]. - The Real Assets segment saw AUM increase by 31% year-over-year to $163 billion, with $34 billion raised year-to-date[22]. - Capital invested in the Credit and Liquid Strategies segment was $10 billion in the quarter, with AUM increasing to $271 billion, an 18% year-over-year growth[23]. - Total Private Equity commitments amount to $199,366 million, with $21,689 million invested and $10,777 million realized[41]. Earnings and Dividends - Regular dividend of $0.175 per share of common stock was declared for Q3 2024[9]. - Fee Related Earnings (FRE) reached $1.0 billion in Q3 2024, a 79% increase year-over-year, with an annualized FRE of $3.1 billion[9]. - Fee Related Earnings per Adjusted Share rose to $1.12 for 3Q'24, up from $0.63 in 3Q'23[12]. - KKR's investment in asset management segment generated $1.1 billion in fees and other income for Q3 2024[52]. Strategic Developments - KKR increased its ownership in Global Atlantic to 100% at the beginning of 2024, enhancing its financial results[11]. - The company is focused on expanding its market presence through strategic partnerships and acquisitions, including the acquisition of Global Atlantic[76]. - The firm believes that providing non-GAAP measures is helpful for stockholders in assessing overall business performance[67]. Risks and Challenges - KKR's future performance is subject to various risks and uncertainties, which could cause actual results to differ from forward-looking statements[76]. - The company reported high variability in earnings and cash flow, with potential impacts from geopolitical developments and market conditions[79]. - KKR's investment activities are subject to risks such as historical returns not being indicative of future results and dependence on significant leverage in investments[79]. - The company may experience challenges in recruiting and retaining key personnel, which is critical for executing growth strategies[79]. Non-GAAP Measures - KKR's adjusted revenue and adjusted EBITDA are used to monitor the operating performance of the businesses, reflecting a steady state growth profile of the underlying portfolio[65]. - KKR's non-GAAP measures, including adjusted net income and total segment earnings, are presented to provide a clearer view of operational performance without the impact of non-operating items[67]. - Total Segment Earnings excludes equity-based compensation, amortization of acquired intangibles, and transaction-related items, providing a supplemental measure of operating performance[69].

KKR & Co. Inc. (KKR) is slated to report third-quarter 2024 results on Oct. 24, before the opening bell. Its earnings and revenues in the quarter are expected to have increased on a year-over-year basis.Stay up-to-date with all quarterly releases: See Zacks Earnings Calendar.In the last reported quarter, the company’s earnings beat the Zacks Consensus Estimate. Results benefited from growth in the assets under management (AUM) balance and decline in expenses.The company boasts an impressive earnings surpris ...

Wall Street analysts forecast that KKR & Co. Inc. (KKR) will report quarterly earnings of $1.20 per share in its upcoming release, pointing to a year-over-year increase of 36.4%. It is anticipated that revenues will amount to $1.23 billion, exhibiting an increase of 35.8% compared to the year-ago quarter.Over the past 30 days, the consensus EPS estimate for the quarter has been adjusted downward by 3.9% to its current level. This demonstrates the covering analysts' collective reassessment of their initial p ...

Core Insights - The article discusses the competitive landscape between Ares Capital and FS KKR, analyzing which company may emerge victorious in 2024 [1] Group 1: Company Profiles - Ares Capital and FS KKR are positioned as two major players in the financial management sector, with significant resources and strategies aimed at large-scale financing [1] - The author, Roberts Berzins, has extensive experience in financial management and has contributed to the development of financial strategies for top-tier corporates [1] Group 2: Market Context - The article highlights the importance of institutional frameworks, such as the REIT framework in Latvia, which aims to enhance liquidity in the pan-Baltic capital markets [1] - There is a focus on policy-level initiatives, including national SOE financing guidelines and frameworks to channel private capital into affordable housing [1]

A financial researcher and avid investor with a keen eye for innovation and disruption, as well as growth buyouts and value stocks. Keeping an eye on the pace of high tech and early growth companies, I write about current events and the biggest news surrounding the industry, and strive to provide readers with ample research and investment opportunities. Analyst's Disclosure: I/we have a beneficial long position in the shares of FSK either through stock ownership, options, or other derivatives. I wrote this ...

Join iREIT on Alpha today to get the most in-depth research that includes REITs, mREITs, Preferreds, BDCs, MLPs, ETFs, and other income alternatives. 438 testimonials and most are 5 stars. Nothing to lose with our FREE 2-week trial . The Fed recently cut interest rates by 50 basis points, in a move that is expected to be the start of a prolonged easing cycle, potentially resulting in a move to sub-3% rates in early 2027. I discussed this in a Analyst's Disclosure: I/we have no stock, option or similar deriv ...

"过去几十年，很多人把时代的赠予认为是自己的能力，未来要考验硬功夫。" 文丨高洪浩 编辑丨宋玮 钱杨 "回想这项投资，我有诸多感慨和遗憾。" "我就犯过这样的错误。" …… 从事 PE（私募股权）投资 30 年，孙强不避讳谈论自己的失败，这在一个赤裸裸以挣了多少钱论成败的行 业不多见。 进入中国以来，华平一直是这里最活跃的外资 PE 之一——对多个行业的超过 170 家企业累计投资超过 160 亿美元。相比之下，KKR 在中国投资企业数量只有 40 余家，累计投资额在 70 亿美元左右；凯雷的累 计投资额则在 100 亿美元上下。 1992 年底，在高盛任职的孙强从纽约搬往中国香港。当时，中国内地的金融改革正如火如荼，国有企业股 份制改造推动了一批即将赴港上市的企业，外资投行们无不虎视眈眈地盯着这块蛋糕。 10 多年前，孙强开始动笔把自己的职业生涯和投资经历记录下来，最近以《一个投资家的成败自述》为题 出版。他不愿意强调个人，不想把自己的名字写进标题，而是以自我检视的口吻回顾他主导和参与过的 PE 投资项目，剖析从失败中得到的经验和教训。 "张磊、沈南鹏等同行的故事比我有意思一百倍，我没他们那么成功，所以敢写 ...