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

Blackstone BX is scheduled to report third-quarter 2024 results on Oct. 17, before the opening bell. Its revenues and earnings are likely to have improved 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 lagged the Zacks Consensus Estimate. Results were adversely impacted by higher expenses. On the other hand, an increase in segment revenues and an improvement in the assets under management (AUM) balance were the tailwinds.Blackstone has a decent earnings surprise history. Its earnings surpassed the Zacks Consensus Estimate in two and lagged in two of the trailing four quarters, with the average surprise being 2.43%. Blackstone Inc. Price and EPS Surprise Blackstone Inc. price-eps-surprise | Blackstone Inc. QuoteThe Zacks Consensus Estimate for Blackstone’s earnings of 97 cents per share has been revised 7.6% lower over the past seven days. The figure indicates a rise of 3.2% from the prior-year quarter’s reported number.The consensus estimate for sales is pegged at $2.60 billion, which suggests a rise of 12.1%.Key Factors to Note & Q3 Estimates for BlackstoneBlackstone has been witnessing increases in fee-earning AUM and total AUM on the back of its diversified product and revenue mix, superior position in the alternative investments space and net inflows.Given the high market volatility and increased client activity in the third quarter, Blackstone is expected to have recorded a rise in the AUM balance as inflows grew. The Zacks Consensus Estimate for total AUM of $1.1 trillion indicates growth of 9.6% from the prior-year quarter. The consensus estimate for total fee-earning AUM of $832.1 billion suggests a rise of 13.3%.The Zacks Consensus Estimate for total management and advisory fees (segment revenues) is pegged at $1.82 billion, which indicates a 10.2% increase. The consensus estimate for fee-related performance revenues (segment revenues) of $210.6 million suggests a decline of 23.3% from the prior-year quarter.Blackstone’s expenses have been elevated over the past few years mainly because of higher general, administrative and other expenses. As the company has continued to invest in franchises, expenses are expected to have risen to some extent in the third quarter.What Our Model Predicts for BXAccording to our quantitative model, the chances of Blackstone beating the Zacks Consensus Estimate for earnings this time are low. This is because it does not have the right combination of the two key ingredients — a positive Earnings ESP and a Zacks Rank #3 (Hold) or better.You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.Earnings ESP: The Earnings ESP for Blackstone is -5.20%.Zacks Rank: The company currently carries a Zacks Rank #3.Finance Sector Stocks Worth a LookHere are a couple of finance sector stocks that you may want to consider, as our model shows that these have the right combination of elements to post an earnings beat this time:The Earnings ESP for First Horizon FHN is +3.18% and it carries a Zacks Rank #3 at present. The company is slated to report third-quarter 2024 results on Oct. 16.Over the past seven days, the Zacks Consensus Estimate for FHN’s quarterly earnings has remained unchanged at 38 cents.F.N.B. Corp. FNB is scheduled to release third-quarter 2024 earnings on Oct. 17. The company, which carries a Zacks Rank #3 at present, has an Earnings ESP of +0.93%. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.FNB’s quarterly earnings estimates have remained unchanged at 36 cents over the past week.Infrastructure Stock Boom to Sweep AmericaA massive push to rebuild the crumbling U.S. infrastructure will soon be underway. It’s bipartisan, urgent, and inevitable. Trillions will be spent. Fortunes will be made.The only question is “Will you get into the right stocks early when their growth potential is greatest?”Zacks has released a Special Report to help you do just that, and today it’s free. Discover 5 special companies that look to gain the most from construction and repair to roads, bridges, and buildings, plus cargo hauling and energy transformation on an almost unimaginable scale.Download FREE: How To Profit From Trillions On Spending For Infrastructure >>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 First Horizon Corporation (FHN): Free Stock Analysis Report F.N.B. Corporation (FNB): Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks