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Results benefited from a rise in assets under management (AUM) balance and higher revenues. However, an increase in GAAP expenses was the undermining factor.
Net income attributable to Blackstone was $649.7 million, rising 5.7% from the year-ago quarter.
BX’s Segment Revenues Up, GAAP Expenses Rise
Total segment revenues for the reported quarter were $3.43 billion, jumping 24% year over year. The top line beat the Zacks Consensus Estimate of $3.32 billion. On a GAAP basis, revenues were $3.62 billion, which grew 10%.
Total expenses (GAAP basis) were $2.26 billion, up 19.4% year over year.
As of March 31, 2026, Blackstone had $11.4 billion in total cash, cash equivalents and corporate treasury investments, and $21.3 billion in cash and net investments. The company has a $4.3-billion credit revolver.
Blackstone’s AUM Balance Rises
Fee-earning AUM grew 9% year over year to $937.6 billion as of March 31, 2026.
The total AUM amounted to $1.3 trillion, up 12%. The rise in total AUM was primarily driven by $68.5 billion in inflows in the reported quarter.
As of March 31, 2026, the undrawn capital available for investment was $213.3 billion.
BX’s Share Repurchase Update
During the reported quarter, Blackstone repurchased 0.2 million shares.
Our Take on Blackstone
Blackstone 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, elevated expenses, private credit-related concerns and a challenging operating backdrop are likely to hurt the bottom line in the near term.
BlackRock’s (BLK - Free Report) first-quarter 2026 adjusted earnings of $12.53 per share handily surpassed the Zacks Consensus Estimate of $11.96. The figure reflects a 10.9% rise from the year-ago quarter.
Results benefited from a rise in revenues. AUM balance witnessed robust year-over-year growth, driven by net inflows. However, higher expenses was a headwind for BLK.
Invesco (IVZ - Free Report) is scheduled to report first-quarter 2026 results on April 28.
Over the past 30 days, the Zacks Consensus Estimate for Invesco’s quarterly earnings has been revised north to 59 cents. The estimated figure indicates 34.1% jump from the prior-year quarter.
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BX's Q1 Earnings Top as AUM Hits Record High Despite Tough Environment
Key Takeaways
Blackstone’s (BX - Free Report) first-quarter 2026 distributable earnings of $1.36 per share surpassed the Zacks Consensus Estimate of $1.33. The figure soared 25% from the prior-year quarter.
Results benefited from a rise in assets under management (AUM) balance and higher revenues. However, an increase in GAAP expenses was the undermining factor.
Net income attributable to Blackstone was $649.7 million, rising 5.7% from the year-ago quarter.
BX’s Segment Revenues Up, GAAP Expenses Rise
Total segment revenues for the reported quarter were $3.43 billion, jumping 24% year over year. The top line beat the Zacks Consensus Estimate of $3.32 billion. On a GAAP basis, revenues were $3.62 billion, which grew 10%.
Total expenses (GAAP basis) were $2.26 billion, up 19.4% year over year.
As of March 31, 2026, Blackstone had $11.4 billion in total cash, cash equivalents and corporate treasury investments, and $21.3 billion in cash and net investments. The company has a $4.3-billion credit revolver.
Blackstone’s AUM Balance Rises
Fee-earning AUM grew 9% year over year to $937.6 billion as of March 31, 2026.
The total AUM amounted to $1.3 trillion, up 12%. The rise in total AUM was primarily driven by $68.5 billion in inflows in the reported quarter.
As of March 31, 2026, the undrawn capital available for investment was $213.3 billion.
BX’s Share Repurchase Update
During the reported quarter, Blackstone repurchased 0.2 million shares.
Our Take on Blackstone
Blackstone 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, elevated expenses, private credit-related concerns and a challenging operating backdrop are likely 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. Quote
Currently, Blackstone carries a Zacks Rank #4 (Sell).
You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Performance & Expectations of Blackstone’s Peers
BlackRock’s (BLK - Free Report) first-quarter 2026 adjusted earnings of $12.53 per share handily surpassed the Zacks Consensus Estimate of $11.96. The figure reflects a 10.9% rise from the year-ago quarter.
Results benefited from a rise in revenues. AUM balance witnessed robust year-over-year growth, driven by net inflows. However, higher expenses was a headwind for BLK.
Invesco (IVZ - Free Report) is scheduled to report first-quarter 2026 results on April 28.
Over the past 30 days, the Zacks Consensus Estimate for Invesco’s quarterly earnings has been revised north to 59 cents. The estimated figure indicates 34.1% jump from the prior-year quarter.