KKR & Co. Q3 Profit Tops Estimates; AUM Up 18% YoY

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Kaufen / Verkaufen

(RTTNews) - KKR & Co. Inc. (KKR) reported that its third quarter net income to stockholders declined to $654.55 million from $1.47 billion, a year ago. Earnings per share was $0.69 compared to $1.64. Fee Related Earnings was $1.0 billion or $1.12 per adjusted share, up 79% year-over-year. Total Operating Earnings was $1.3 billion or $1.47 per adjusted share, up 71% year-over-year. Adjusted Net Income was $1.2 billion or $1.38 per adjusted share, up 58% year-over-year. On average, 14 analysts polled by Thomson Reuters expected the company to report profit per share of $1.21, for the quarter. Analysts' estimates typically exclude special items.

Third quarter total revenues were $4.79 billion compared to $3.32 billion, prior year. Asset Management and Strategic Holdings revenue increased to $2.27 billion from $1.67 billion. Analysts on average had estimated $1.79 billion in revenue.

Assets Under Management, or AUM was $624 billion, up 18% year-over-year, with $24 billion of organic new capital raised in the quarter and $118 billion in the LTM. Fee Paying Assets Under Management or FPAUM was $506 billion, up 19% year-over-year.

A dividend of $0.175 per share of common stock of KKR & Co. Inc. has been declared for the third quarter of 2024, which will be paid on November 19, 2024 to holders of record of common stock as of the close of business on November 4, 2024.

Shares of KKR & Co. are up 4% in pre-market trade on Thursday.

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