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Should You Buy, Hold or Sell Blackstone Stock Ahead of Q1 Earnings?
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Key Takeaways
Blackstone is set to report 1Q26 results, with AUM and revenue expected to post strong growth.
BX may see robust inflows, but slower fundraising and rising retail redemptions could weigh on AUM.
Premium valuation and private credit challenges may limit growth visibility and pressure sentiment.
Blackstone (BX - Free Report) is scheduled to announce first-quarter 2026 results on April 23, before the opening bell. As the world’s leading alternative asset manager, BX’s results will be closely monitored this time to understand the impact of the ongoing private credit market woes.
In the last reported quarter, the company delivered a decent performance, with year-over-year assets under management (AUM) growth. This time, Blackstone is expected to have recorded a similar performance. The Zacks Consensus Estimate for Blackstone’s first-quarter revenues is pegged at $3.32 billion, which implies a 20.3% year-over-year improvement.
In the past seven days, the consensus estimate for the company’s earnings has been unchanged at $1.33. The estimate indicates 22% growth from the prior-year quarter’s actual.
Estimate Revision Trend
Image Source: Zacks Investment Research
BX has an impressive earnings surprise history. The company’s earnings outpaced the Zacks Consensus Estimate in each of the trailing four quarters, the average beat being 13.6%.
Earnings Surprise History
Image Source: Zacks Investment Research
Key Factors Likely to Have Influenced BX’s Q1 Results
Supported by decent inflows, BX is expected to have recorded AUM growth in the to-be-reported quarter, similar to the previous quarter. In the last reported quarter, BX’s total AUM increased 13% year over year, driven by $71.5 billion in inflows. Also, the company’s fee-earning AUM grew 11% year over year to $921.7 billion.
While slower fundraising and rising retail redemptions in private credit and wealth products are likely to have negatively impacted BX’s AUM growth to some extent in the to-be-reported quarter, overall growth is expected to have been robust, given the company’s record of strong institutional inflows, resilient fundraising across flagship strategies and expanding presence in high-demand areas (including AI-linked data centers).
The Zacks Consensus Estimate for total AUM for the first quarter is pegged at $1.32 trillion, indicating growth of 12.8% from the prior-year quarter’s actual. The consensus estimate for total fee-earning AUM of $944 billion suggests a rise of 9.8%.
The Zacks Consensus Estimate for total management and advisory fees (segment revenues) is pegged at $2.11 billion, which indicates 11.5% growth from the prior-year quarter’s actual.
The consensus estimate for fee-related performance revenues (segment revenues) of $541 million suggests an 84% year-over-year surge. Blackstone’s expenses have been increasing over the past few years, mainly because of higher general, administrative and other expenses. As the company continues to invest in franchises, expenses are expected to have risen to some extent in the first quarter as well.
What Our Model Unveils for Blackstone
Per our proven model, the chances of Blackstone beating the Zacks Consensus Estimate for earnings this time are low. This is because it does not have the combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold), which is required to be confident of an earnings beat.
BX has an Earnings ESP of -0.09%. You can uncover the best stocks to buy or sell before they are reported with our Earnings ESP Filter.
Blackstone carries a Zacks Rank #4 (Sell) at present.
Blackstone shares have lost 25.4% in the first quarter compared with the industry’s decline of 17.4%. The stock has underperformed one of its peers, Apollo Global (APO - Free Report) , but outperformed another peer, Blue Owl Capital Inc. (OWL - Free Report) .
1Q26 BX Price Performance
Image Source: Zacks Investment Research
Apollo Global is expected to report quarterly results on May 6, before the opening bell, while Blue Owl is scheduled to report results on April 30.
On a valuation basis, shares of Blackstone appear to be trading at a premium relative to the industry. The company’s forward 12-month price/earnings (P/E) ratio of 19.21 is above the industry average of 12.11.
P/E (F12M) Ratio
Image Source: Zacks Investment Research
Apollo Global and Blue Owl Capital have P/E (F12M) ratios of 13.25 and 10.38, respectively.
How to Approach Blackstone Stock Before Q1 Earnings?
BX continues to stand out as one of the world’s leading alternative asset managers, with a strong reputation for generating consistent fee-based income across market cycles. Since its diversified platform (spanning private equity, real estate, credit and infrastructure) helps reduce reliance on any single asset class, investors will prefer the stock for providing stability even during periods of volatility.
However, while the firm’s scale and diversification provide resilience, the ongoing challenges within the private credit markets (like slower dealmaking, delayed asset exits, elevated interest rates, and valuation mismatches between buyers and sellers) may limit growth visibility and keep earnings somewhat volatile until macroeconomic conditions stabilize.
A premium valuation compared with the industry makes us further apprehensive about the company’s prospects.
Thus, valuation-aware and more conservative investors should stay away from the BX stock at present.
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Should You Buy, Hold or Sell Blackstone Stock Ahead of Q1 Earnings?
Key Takeaways
Blackstone (BX - Free Report) is scheduled to announce first-quarter 2026 results on April 23, before the opening bell. As the world’s leading alternative asset manager, BX’s results will be closely monitored this time to understand the impact of the ongoing private credit market woes.
In the last reported quarter, the company delivered a decent performance, with year-over-year assets under management (AUM) growth. This time, Blackstone is expected to have recorded a similar performance. The Zacks Consensus Estimate for Blackstone’s first-quarter revenues is pegged at $3.32 billion, which implies a 20.3% year-over-year improvement.
In the past seven days, the consensus estimate for the company’s earnings has been unchanged at $1.33. The estimate indicates 22% growth from the prior-year quarter’s actual.
Estimate Revision Trend
Image Source: Zacks Investment Research
BX has an impressive earnings surprise history. The company’s earnings outpaced the Zacks Consensus Estimate in each of the trailing four quarters, the average beat being 13.6%.
Earnings Surprise History
Image Source: Zacks Investment Research
Key Factors Likely to Have Influenced BX’s Q1 Results
Supported by decent inflows, BX is expected to have recorded AUM growth in the to-be-reported quarter, similar to the previous quarter. In the last reported quarter, BX’s total AUM increased 13% year over year, driven by $71.5 billion in inflows. Also, the company’s fee-earning AUM grew 11% year over year to $921.7 billion.
While slower fundraising and rising retail redemptions in private credit and wealth products are likely to have negatively impacted BX’s AUM growth to some extent in the to-be-reported quarter, overall growth is expected to have been robust, given the company’s record of strong institutional inflows, resilient fundraising across flagship strategies and expanding presence in high-demand areas (including AI-linked data centers).
The Zacks Consensus Estimate for total AUM for the first quarter is pegged at $1.32 trillion, indicating growth of 12.8% from the prior-year quarter’s actual. The consensus estimate for total fee-earning AUM of $944 billion suggests a rise of 9.8%.
The Zacks Consensus Estimate for total management and advisory fees (segment revenues) is pegged at $2.11 billion, which indicates 11.5% growth from the prior-year quarter’s actual.
The consensus estimate for fee-related performance revenues (segment revenues) of $541 million suggests an 84% year-over-year surge.
Blackstone’s expenses have been increasing over the past few years, mainly because of higher general, administrative and other expenses. As the company continues to invest in franchises, expenses are expected to have risen to some extent in the first quarter as well.
What Our Model Unveils for Blackstone
Per our proven model, the chances of Blackstone beating the Zacks Consensus Estimate for earnings this time are low. This is because it does not have the combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold), which is required to be confident of an earnings beat.
BX has an Earnings ESP of -0.09%. You can uncover the best stocks to buy or sell before they are reported with our Earnings ESP Filter.
Blackstone carries a Zacks Rank #4 (Sell) at present.
You can see the complete list of today’s Zacks #1 Rank stocks here.
BX’s Price Performance & Valuation
Blackstone shares have lost 25.4% in the first quarter compared with the industry’s decline of 17.4%. The stock has underperformed one of its peers, Apollo Global (APO - Free Report) , but outperformed another peer, Blue Owl Capital Inc. (OWL - Free Report) .
1Q26 BX Price Performance
Image Source: Zacks Investment Research
Apollo Global is expected to report quarterly results on May 6, before the opening bell, while Blue Owl is scheduled to report results on April 30.
On a valuation basis, shares of Blackstone appear to be trading at a premium relative to the industry. The company’s forward 12-month price/earnings (P/E) ratio of 19.21 is above the industry average of 12.11.
P/E (F12M) Ratio
Image Source: Zacks Investment Research
Apollo Global and Blue Owl Capital have P/E (F12M) ratios of 13.25 and 10.38, respectively.
How to Approach Blackstone Stock Before Q1 Earnings?
BX continues to stand out as one of the world’s leading alternative asset managers, with a strong reputation for generating consistent fee-based income across market cycles. Since its diversified platform (spanning private equity, real estate, credit and infrastructure) helps reduce reliance on any single asset class, investors will prefer the stock for providing stability even during periods of volatility.
However, while the firm’s scale and diversification provide resilience, the ongoing challenges within the private credit markets (like slower dealmaking, delayed asset exits, elevated interest rates, and valuation mismatches between buyers and sellers) may limit growth visibility and keep earnings somewhat volatile until macroeconomic conditions stabilize.
A premium valuation compared with the industry makes us further apprehensive about the company’s prospects.
Thus, valuation-aware and more conservative investors should stay away from the BX stock at present.