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Apollo Global Q2 Earnings Miss Estimates, Expenses Increase Y/Y
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Key Takeaways
Apollo Global's Q2 ANI of $2.11 per share missed estimates as expenses rose 19% year over year.
APO's segment revenues rose 23% to $1.34B, while total AUM climbed 25% to $1.05T.
Apollo Global's fee-generating AUM jumped 34% to $858B, supported by capital formation and inflows.
Apollo Global Management, Inc.’s (APO - Free Report) second-quarter 2026 adjusted net income (ANI) per share of $2.11 missed the Zacks Consensus Estimate of $2.18. The metric increased from the year-ago adjusted net income of $1.92.
Results were adversely affected by higher expenses. However, higher assets under management (AUM) balances acted as a tailwind in the quarter.
The results include certain items. After considering those, net income attributable to Apollo Global (GAAP basis) was $1.34 billion, which rose from $605 million in the prior-year quarter.
APO’s Quarterly Revenues & Expenses Rise
Total segment revenues were $1.34 billion, surpassing the Zacks Consensus Estimate of $1.31 billion. The metric increased 23% year over year from $1.10 billion.
Total expenses for combined segments increased 19% year over year to $558 million in the reported quarter.
Apollo Global’s AUM Balance Rises
Fee-generating AUM increased 34% year over year to $858 billion. The rise was driven by strong capital formation across institutional and global wealth channels, $65 billion from Athora’s acquisition of Pension Insurance Corporation and robust Retirement Services inflows, partially offset by outflows and realization activity.
As of June 30, 2026, total AUM was $1.05 trillion, up 25% year over year. Total AUM benefited from $220 billion of inflows from Asset Management, $78 billion of gross inflows from Retirement Services and mark-to-market appreciation. This was partially offset by $71 billion of outflows and $32 billion of realization activity.
APO’s Capital & Liquidity Position
As of June 30, 2026, Apollo Global had $3.41 billion in cash and cash equivalents and $5.76 billion of debt.
APO’s Capital Distribution Update
The company announced a quarterly cash dividend of 56.25 cents per share with its earnings release. The dividend will be paid on Aug. 31, 2026, to shareholders of record as of Aug. 19.
Apollo Global repurchased $102 million of common stock in the second quarter, including $73 million to substantially offset dilution and $29 million of opportunistic share repurchases. Over the last 12 months, the company repurchased $1.6 billion of common stock and distributed more than $1 billion in common stock dividends.
Our Viewpoint on APO
Apollo Global’s expanding AUM and continued strength across Asset Management and Retirement Services remain encouraging. Strong capital formation, robust inflows and diversified origination activity position the company well for sustained growth, though higher expenses continue to weigh on overall results.
Apollo Global Management Inc. Price, Consensus and EPS Surprise
BlackRock’s (BLK - Free Report) second-quarter 2026 adjusted earnings of $13.91 per share handily surpassed the Zacks Consensus Estimate of $12.72. The figure reflects a 15% rise from the year-ago quarter.
BLK’s results benefited from a rise in revenues. The assets under management balance witnessed robust year-over-year growth, driven by net inflows. However, higher expenses created a headwind.
SEI Investments Co.’s (SEIC - Free Report) second-quarter 2026 adjusted earnings per share of $1.66 surpassed the Zacks Consensus Estimate of $1.45. The bottom line reflected a rise of 38.3% from the prior-year quarter.
Results were aided by higher revenues and a rise in assets under management. However, higher expenses acted as a spoilsport for SEIC.
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Apollo Global Q2 Earnings Miss Estimates, Expenses Increase Y/Y
Key Takeaways
Apollo Global Management, Inc.’s (APO - Free Report) second-quarter 2026 adjusted net income (ANI) per share of $2.11 missed the Zacks Consensus Estimate of $2.18. The metric increased from the year-ago adjusted net income of $1.92.
Results were adversely affected by higher expenses. However, higher assets under management (AUM) balances acted as a tailwind in the quarter.
The results include certain items. After considering those, net income attributable to Apollo Global (GAAP basis) was $1.34 billion, which rose from $605 million in the prior-year quarter.
APO’s Quarterly Revenues & Expenses Rise
Total segment revenues were $1.34 billion, surpassing the Zacks Consensus Estimate of $1.31 billion. The metric increased 23% year over year from $1.10 billion.
Total expenses for combined segments increased 19% year over year to $558 million in the reported quarter.
Apollo Global’s AUM Balance Rises
Fee-generating AUM increased 34% year over year to $858 billion. The rise was driven by strong capital formation across institutional and global wealth channels, $65 billion from Athora’s acquisition of Pension Insurance Corporation and robust Retirement Services inflows, partially offset by outflows and realization activity.
As of June 30, 2026, total AUM was $1.05 trillion, up 25% year over year. Total AUM benefited from $220 billion of inflows from Asset Management, $78 billion of gross inflows from Retirement Services and mark-to-market appreciation. This was partially offset by $71 billion of outflows and $32 billion of realization activity.
APO’s Capital & Liquidity Position
As of June 30, 2026, Apollo Global had $3.41 billion in cash and cash equivalents and $5.76 billion of debt.
APO’s Capital Distribution Update
The company announced a quarterly cash dividend of 56.25 cents per share with its earnings release. The dividend will be paid on Aug. 31, 2026, to shareholders of record as of Aug. 19.
Apollo Global repurchased $102 million of common stock in the second quarter, including $73 million to substantially offset dilution and $29 million of opportunistic share repurchases. Over the last 12 months, the company repurchased $1.6 billion of common stock and distributed more than $1 billion in common stock dividends.
Our Viewpoint on APO
Apollo Global’s expanding AUM and continued strength across Asset Management and Retirement Services remain encouraging. Strong capital formation, robust inflows and diversified origination activity position the company well for sustained growth, though higher expenses continue to weigh on overall results.
Apollo Global Management Inc. Price, Consensus and EPS Surprise
Apollo Global Management Inc. price-consensus-eps-surprise-chart | Apollo Global Management Inc. Quote
Currently, Apollo Global carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Performance of APO’s Peers
BlackRock’s (BLK - Free Report) second-quarter 2026 adjusted earnings of $13.91 per share handily surpassed the Zacks Consensus Estimate of $12.72. The figure reflects a 15% rise from the year-ago quarter.
BLK’s results benefited from a rise in revenues. The assets under management balance witnessed robust year-over-year growth, driven by net inflows. However, higher expenses created a headwind.
SEI Investments Co.’s (SEIC - Free Report) second-quarter 2026 adjusted earnings per share of $1.66 surpassed the Zacks Consensus Estimate of $1.45. The bottom line reflected a rise of 38.3% from the prior-year quarter.
Results were aided by higher revenues and a rise in assets under management. However, higher expenses acted as a spoilsport for SEIC.