KKR Q1 Performance: Earnings Per Share Decrease, Book Value, Assets Under Management Growth – KKR & Co…

KKR Q1 Performance: Earnings Per Share Decrease, Book Value, Assets Under Management Growth – KKR & Co…

Facebook
Twitter
LinkedIn

  • KKR & Co Inc KKR reported revenue of $3.13 billion for the first quarter of 2023, higher than $999.4 million a year ago.
  • The company reported adjusted distributable earnings per share after tax of $0.81, down 26% year over year, beating the consensus of $0.74.
  • Asset management segment revenue of $1.28 billion beat consensus of $1.22 billion.
  • In the insurance segment, net investment income increased to $1.27 billion from $862.4 million a year earlier, led by an increase in invested assets due to new business growth and higher yields.
  • Fee-related revenues for the quarter declined 9% year-on-year to $549 million due to lower capital markets revenues from lower issuance in the global equity and leveraged loan markets.
  • Assets under management grew 6% year over year to $510 billion, with $12 billion of organic new capital raising in the first quarter of 2023.
  • Book value per adjusted share fell 4% year over year to $27.65 in the quarter.
  • dividend: KKR declared a dividend per share of $0.165, payable June 6, 2023, to shareholders of record May 22, 2023.
  • “Over the past 12 months, 95% of the new capital entrusted to us has been outside of our traditional private equity funds, reflecting our continued diversification. In our experience, volatility creates opportunity – with over $100 billion in dry powder ready for use by our customers worldwide, we remain very well positioned,” said Joseph Y. Bae and Scott C. Nuttall, Co-Chief Executive Officers .
  • also read: KKR is buying liquid cooling solution provider CoolIT Systems for an undisclosed sum
  • price action: KKR shares trade 1.82% lower at $50.57 on latest check Monday.



Source story

More to explorer