Blackstone Q1 Earnings Beat, AUM Touches Record High on Solid Inflows

Blackstone’s BX first-quarter 2024 distributable earnings of $1.09 per share surpassed the Zacks Consensus Estimate of $1.04. The figure reflects a rise of 11% from the prior-year quarter.Results benefited from higher segment revenues and a surge in assets under management (AUM) balance. However, an increase in GAAP expenses was a headwind.Net income attributable to Blackstone was $614.9 million, down 27.1% from the year-ago quarter.BX’s Segment Revenues Increase, GAAP Expenses RiseTotal segment revenues for the reported quarter were $2.76 billion, which grew 8% year over year. The top line beat the Zacks Consensus Estimate of $2.64 billion. On a GAAP basis, revenues were $3.29 billion, plunging 11% from the prior-year quarter.Total expenses (GAAP basis) were $1.89 billion, which rose 6% year over year.As of March 31, 2025, Blackstone had $9.8 billion in total cash, cash equivalents and corporate treasury investments, and $19.4 billion in cash and net investments. The company has a $3.4-billion undrawn credit revolver.Blackstone’s AUM Balance RisesFee-earning AUM grew 10% year over year to $860.1 billion as of March 31, 2025.The total AUM amounted to $1.17 trillion, up 10%. The rise in total AUM was primarily driven by $61.6 billion in inflows in the reported quarter.As of March 31, 2025, the undrawn capital available for investment was $177.2 billion.BX’s Share Repurchase UpdateDuring the reported quarter, Blackstone repurchased 0.2 million shares. As of March 31, 2025, $1.6 billion worth of buyback authorization remained available.Our Take on BlackstoneBlackstone is well-positioned for top-line growth, supported by a continuous rise in AUM. The company is expected to keep gaining from its fundraising ability. However, high expenses and a challenging operating backdrop are expected to hurt the bottom line in the near term. Blackstone Inc. Price, Consensus and EPS Surprise Blackstone Inc. price-consensus-eps-surprise-chart | Blackstone Inc. QuoteCurrently, Blackstone carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.Performance & Earnings Release Date of BX’s PeersBlackRock’s BLK first-quarter 2025 adjusted earnings of $11.30 per share handily surpassed the Zacks Consensus Estimate of $10.43. The figure reflects a rise of 15% from the year-ago quarter. (Find the latest EPS estimates and surprises on Zacks Earnings Calendar.)BLK’s results benefited from a rise in revenues. AUM witnessed robust growth and touched a record high of $11.58 trillion, driven by net inflows and favorable forex impact, partially offset by market depreciation. However, higher expenses and lower non-operating income were headwinds.Invesco IVZ is scheduled to announce first-quarter 2025 numbers on April 22.Over the past seven days, the Zacks Consensus Estimate for IVZ’s quarterly earnings has remained unchanged at 39 cents. The figure implies an increase of 18.2% from the prior-year quarter.Only $1 to See All Zacks' Buys and SellsWe're not kidding.Several years ago, we shocked our members by offering them 30-day access to all our picks for the total sum of only $1. No obligation to spend another cent.Thousands have taken advantage of this opportunity. Thousands did not - they thought there must be a catch. Yes, we do have a reason. We want you to get acquainted with our portfolio services like Surprise Trader, Stocks Under $10, Technology Innovators,and more, that closed 256 positions with double- and triple-digit gains in 2024 alone.See Stocks Now >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Blackstone Inc. (BX): Free Stock Analysis Report BlackRock (BLK): Free Stock Analysis Report Invesco Ltd. (IVZ): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks