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Carlyle (CG) Down 2.3% Since Last Earnings Report: Can It Rebound?
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A month has gone by since the last earnings report for Carlyle Group (CG - Free Report) . Shares have lost about 2.3% in that time frame, underperforming the S&P 500.
But investors have to be wondering, will the recent negative trend continue leading up to its next earnings release, or is Carlyle due for a breakout? Well, first let's take a quick look at the latest earnings report in order to get a better handle on the recent catalysts for Carlyle Group Inc. before we dive into how investors and analysts have reacted as of late.
Carlyle reported second-quarter 2026 post-tax distributable earnings per share of $1.07, surpassing the Zacks Consensus Estimate of 88 cents. The metric also rose from 91 cents in the year-ago quarter.
Results benefited from higher realized performance revenues and fee-related performance revenues. A rise in the assets under management balance was another positive. However, higher expenses acted as a spoilsport.
Net income attributable to Carlyle was $137.1 million, down from $319.7 million in the year-ago quarter.
Revenues & Expenses Rise
Second-quarter segmental revenues were $1.11 billion, which surpassed the Zacks Consensus Estimate of $908.8 million. The top line also rose 13% from the year-ago quarter.
Total segment fee revenues were $759.3 million, up 12.3% year over year. Fund management fees declined 5% year over year to $560.1 million, while transaction and portfolio advisory fees, net and other, jumped 130.7% to $110.5 million. Fee-related performance revenues surged 129.2% to $88.7 million.
Realized performance revenues rose 21.2% from the year-ago quarter to $314.8 million.
Total segmental expenses increased 15.7% year over year to $639.9 million.
Total AUM Rises
As of June 30, 2026, total AUM was $485.5 billion, up 4% from the prior-year quarter.
The fee-earning AUM was $334.4 billion, which rose 3% year over year.
Pending fee-earning AUM was $28 billion, up 57%.
Segment Performance
Global Private Equity’s total AUM was $162.7 billion as of June 30, 2026, down 1.4% year over year. The segment’s fee-related earnings were $133.6 million, down 7%. Distributable earnings were $218.5 million, down 5.8%.
Global Credit’s total AUM was $211.1 billion, up 4% year over year. Fee-related earnings were $137.6 million, up 23.5%. Distributable earnings were $158 million, up 30.7%.
Carlyle AlpInvest’s total AUM was $111.7 billion, up 15.7% year over year. Fee-related earnings were $86.5 million, up 26.6%. Distributable earnings were $95.8 million, up 22.5%.
Capital Distribution Activities
In the reported quarter, CG repurchased or withheld 6.7 million shares of common stock, including shares withheld in the net share settlement of equity awards, totaling $304 million. As of June 30, 2026, $1.6 billion worth of shares were available under the authorization.
2028 Outlook
The company aims to generate more than $200 billion in inflows from 2026 through 2028, suggesting a rise from the $158 billion registered over 2023-2025.
The FRE margin is targeted to exceed 50%, up from 47% in 2025. FRE is expected to reach $1.9 billion or more, and management fees are projected to exceed $2.8 billion.
Distributable earnings per share are targeted at $6 or more by 2028, seeing a 14.2% three-year CAGR from the 2025 reported level.
How Have Estimates Been Moving Since Then?
It turns out, estimates review have trended downward during the past month.
VGM Scores
At this time, Carlyle has a poor Growth Score of F, however its Momentum Score is doing a bit better with a D. Following the exact same course, the stock has a grade of D on the value side, putting it in the bottom 40% for this investment strategy.
Overall, the stock has an aggregate VGM Score of F. If you aren't focused on one strategy, this score is the one you should be interested in.
Outlook
Estimates have been broadly trending downward for the stock, and the magnitude of these revisions indicates a downward shift. Interestingly, Carlyle has a Zacks Rank #3 (Hold). We expect an in-line return from the stock in the next few months.
Performance of an Industry Player
Carlyle belongs to the Zacks Financial - Investment Management industry. Another stock from the same industry, KKR & Co. Inc. (KKR - Free Report) , has gained 6.2% over the past month. More than a month has passed since the company reported results for the quarter ended June 2026.
KKR & Co. reported revenues of $1.73 billion in the last reported quarter, representing a year-over-year change of +34.4%. EPS of $1.63 for the same period compares with $1.18 a year ago.
For the current quarter, KKR & Co. is expected to post earnings of $1.59 per share, indicating a change of +12.8% from the year-ago quarter. The Zacks Consensus Estimate has changed +0.2% over the last 30 days.
KKR & Co. has a Zacks Rank #3 (Hold) based on the overall direction and magnitude of estimate revisions. Additionally, the stock has a VGM Score of F.
View the Zacks #1 Rank List
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Carlyle (CG) Down 2.3% Since Last Earnings Report: Can It Rebound?
A month has gone by since the last earnings report for Carlyle Group (CG - Free Report) . Shares have lost about 2.3% in that time frame, underperforming the S&P 500.
But investors have to be wondering, will the recent negative trend continue leading up to its next earnings release, or is Carlyle due for a breakout? Well, first let's take a quick look at the latest earnings report in order to get a better handle on the recent catalysts for Carlyle Group Inc. before we dive into how investors and analysts have reacted as of late.
Carlyle Q2 Earnings Beat Estimates on Higher AUM, Expenses Rise Y/Y
Carlyle reported second-quarter 2026 post-tax distributable earnings per share of $1.07, surpassing the Zacks Consensus Estimate of 88 cents. The metric also rose from 91 cents in the year-ago quarter.
Results benefited from higher realized performance revenues and fee-related performance revenues. A rise in the assets under management balance was another positive. However, higher expenses acted as a spoilsport.
Net income attributable to Carlyle was $137.1 million, down from $319.7 million in the year-ago quarter.
Revenues & Expenses Rise
Second-quarter segmental revenues were $1.11 billion, which surpassed the Zacks Consensus Estimate of $908.8 million. The top line also rose 13% from the year-ago quarter.
Total segment fee revenues were $759.3 million, up 12.3% year over year. Fund management fees declined 5% year over year to $560.1 million, while transaction and portfolio advisory fees, net and other, jumped 130.7% to $110.5 million. Fee-related performance revenues surged 129.2% to $88.7 million.
Realized performance revenues rose 21.2% from the year-ago quarter to $314.8 million.
Total segmental expenses increased 15.7% year over year to $639.9 million.
Total AUM Rises
As of June 30, 2026, total AUM was $485.5 billion, up 4% from the prior-year quarter.
The fee-earning AUM was $334.4 billion, which rose 3% year over year.
Pending fee-earning AUM was $28 billion, up 57%.
Segment Performance
Global Private Equity’s total AUM was $162.7 billion as of June 30, 2026, down 1.4% year over year. The segment’s fee-related earnings were $133.6 million, down 7%. Distributable earnings were $218.5 million, down 5.8%.
Global Credit’s total AUM was $211.1 billion, up 4% year over year. Fee-related earnings were $137.6 million, up 23.5%. Distributable earnings were $158 million, up 30.7%.
Carlyle AlpInvest’s total AUM was $111.7 billion, up 15.7% year over year. Fee-related earnings were $86.5 million, up 26.6%. Distributable earnings were $95.8 million, up 22.5%.
Capital Distribution Activities
In the reported quarter, CG repurchased or withheld 6.7 million shares of common stock, including shares withheld in the net share settlement of equity awards, totaling $304 million. As of June 30, 2026, $1.6 billion worth of shares were available under the authorization.
2028 Outlook
The company aims to generate more than $200 billion in inflows from 2026 through 2028, suggesting a rise from the $158 billion registered over 2023-2025.
The FRE margin is targeted to exceed 50%, up from 47% in 2025. FRE is expected to reach $1.9 billion or more, and management fees are projected to exceed $2.8 billion.
Distributable earnings per share are targeted at $6 or more by 2028, seeing a 14.2% three-year CAGR from the 2025 reported level.
How Have Estimates Been Moving Since Then?
It turns out, estimates review have trended downward during the past month.
VGM Scores
At this time, Carlyle has a poor Growth Score of F, however its Momentum Score is doing a bit better with a D. Following the exact same course, the stock has a grade of D on the value side, putting it in the bottom 40% for this investment strategy.
Overall, the stock has an aggregate VGM Score of F. If you aren't focused on one strategy, this score is the one you should be interested in.
Outlook
Estimates have been broadly trending downward for the stock, and the magnitude of these revisions indicates a downward shift. Interestingly, Carlyle has a Zacks Rank #3 (Hold). We expect an in-line return from the stock in the next few months.
Performance of an Industry Player
Carlyle belongs to the Zacks Financial - Investment Management industry. Another stock from the same industry, KKR & Co. Inc. (KKR - Free Report) , has gained 6.2% over the past month. More than a month has passed since the company reported results for the quarter ended June 2026.
KKR & Co. reported revenues of $1.73 billion in the last reported quarter, representing a year-over-year change of +34.4%. EPS of $1.63 for the same period compares with $1.18 a year ago.
For the current quarter, KKR & Co. is expected to post earnings of $1.59 per share, indicating a change of +12.8% from the year-ago quarter. The Zacks Consensus Estimate has changed +0.2% over the last 30 days.
KKR & Co. has a Zacks Rank #3 (Hold) based on the overall direction and magnitude of estimate revisions. Additionally, the stock has a VGM Score of F.