KKR & Co. Inc. (NYSE: KKR) Surpasses Earnings Estimates in Q3 2024

• KKR reported an EPS of $1.38, beating the estimated $1.20 and showcasing a 56.8% increase from the previous year.
• The company's revenue reached approximately $1.96 billion, driven by a significant increase in total segment revenues.
• Despite a 55.6% decline in net income, KKR's AUM grew by 18%, highlighting the firm's financial resilience and growth potential.

KKR & Co. Inc. (NYSE: KKR) is a global investment firm that manages multiple alternative asset classes, including private equity, energy, infrastructure, real estate, and credit. The company is known for its expertise in leveraged buyouts and has a strong presence in the financial industry. KKR competes with other major investment firms like Blackstone and Carlyle Group.

On October 24, 2024, KKR reported earnings per share (EPS) of $1.38, surpassing the estimated $1.20. This performance was highlighted during their Q3 2024 Earnings Conference Call, attended by key company figures and analysts from major financial institutions. The company's EPS also exceeded the Zacks Consensus Estimate of $1.18, marking a 56.8% increase from the previous year.

KKR's revenue for the quarter reached approximately $1.96 billion, exceeding the estimated $1.79 billion. This impressive revenue growth was driven by a 99.8% year-over-year increase in total segment revenues, which amounted to $1.42 billion. The company's strong performance in its capital markets business contributed to this growth, despite facing increased expenses.

The net income attributable to KKR for the quarter was $654.5 million, a 55.6% decline from the previous year. However, the company's total assets under management (AUM) showed an 18% improvement as of September 30, 2024. This growth in AUM, along with record transaction fees, played a crucial role in KKR's overall financial success.

Despite challenges posed by increased expenses, which rose by 20.3% to $415.8 million, KKR's operating income was approximately $227 million, and its EBITDA reached roughly $2.1 billion. The company's ability to exceed Wall Street expectations provides valuable insights into its underlying performance and potential future stock price movements.