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Apollo Global (APO) to Report Q3 Earnings: What's in Store?
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Apollo Global Management, Inc. (APO - Free Report) is scheduled to announce third-quarter 2023 results on Nov 1, before market open. Its revenues and earnings are anticipated to have improved in the quarter on a year-over-year basis.
In the last reported quarter, APO’s earnings surpassed the Zacks Consensus Estimate. Results were primarily aided by an improvement in total revenues. However, an increase in expenses hurt the results to some extent.
Apollo Global does not have an impressive earnings surprise history. The company’s earnings surpassed the Zacks Consensus Estimate in only two of the trailing four quarters, the average beat being 2.2%.
Apollo Global Management Inc. Price and EPS Surprise
The Zacks Consensus Estimate for APO’s third-quarter earnings is pegged at $1.71 per share, unchanged over the past seven days. The figure indicates a rise of 28.6% from the prior-year quarter’s reported number.
The consensus estimate for sales is pegged at $816 million, which suggests a 21.7% rise on a year-over-year basis.
Other Key Estimates for Q3
The Zacks Consensus Estimate for the company’s total assets under management (AUM) is pegged at $642.6 billion, which suggests a sequential rise of 4.1%.
The consensus estimate for management fees (segment earnings) is pegged at $647 million, indicating a sequential rise of 4.4%.
However, the consensus estimate for fee-related performance fees (segment earnings) is pegged at $32.39 million, reflecting a decline of 7.5% from the previous quarter’s reported number.
Likewise, the consensus estimate for net capital solutions fees and other (segment earnings) of $136 million indicates a sequential decline of 1.4%.
Earnings Whispers
According to our quantitative model, it cannot be conclusively predicted whether Apollo Global will be able to beat the Zacks Consensus Estimate this time around. This is because it does not have the right combination of the two key ingredients, a positive Earnings ESP and a Zacks Rank #3 (Hold) or better.
You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Earnings ESP: Apollo Global has an Earnings ESP of 0.00%.
SEI Investments Co.’s (SEIC - Free Report) third-quarter 2023 earnings of 87 cents per share met the Zacks Consensus Estimate. The bottom line reflects a rise of 93% from the prior-year quarter.
SEIC’s results benefited from higher revenues and an increase in the AUM balance. Lower expenses acted as another tailwind for SEIC.
BlackRock, Inc.’s (BLK - Free Report) third-quarter 2023 adjusted earnings of $10.91 per share handily surpassed the Zacks Consensus Estimate of $8.52 per share. Also, the figure reflects an increase of 14.2% from the year-ago quarter.
BLK’s results benefited from a rise in revenues and higher non-operating income. Further, the AUM balance witnessed improvement. However, higher expenses acted as a headwind for BLK.
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Apollo Global (APO) to Report Q3 Earnings: What's in Store?
Apollo Global Management, Inc. (APO - Free Report) is scheduled to announce third-quarter 2023 results on Nov 1, before market open. Its revenues and earnings are anticipated to have improved in the quarter on a year-over-year basis.
In the last reported quarter, APO’s earnings surpassed the Zacks Consensus Estimate. Results were primarily aided by an improvement in total revenues. However, an increase in expenses hurt the results to some extent.
Apollo Global does not have an impressive earnings surprise history. The company’s earnings surpassed the Zacks Consensus Estimate in only two of the trailing four quarters, the average beat being 2.2%.
Apollo Global Management Inc. Price and EPS Surprise
Apollo Global Management Inc. price-eps-surprise | Apollo Global Management Inc. Quote
Earnings & Sales Projections for Q3
The Zacks Consensus Estimate for APO’s third-quarter earnings is pegged at $1.71 per share, unchanged over the past seven days. The figure indicates a rise of 28.6% from the prior-year quarter’s reported number.
The consensus estimate for sales is pegged at $816 million, which suggests a 21.7% rise on a year-over-year basis.
Other Key Estimates for Q3
The Zacks Consensus Estimate for the company’s total assets under management (AUM) is pegged at $642.6 billion, which suggests a sequential rise of 4.1%.
The consensus estimate for management fees (segment earnings) is pegged at $647 million, indicating a sequential rise of 4.4%.
However, the consensus estimate for fee-related performance fees (segment earnings) is pegged at $32.39 million, reflecting a decline of 7.5% from the previous quarter’s reported number.
Likewise, the consensus estimate for net capital solutions fees and other (segment earnings) of $136 million indicates a sequential decline of 1.4%.
Earnings Whispers
According to our quantitative model, it cannot be conclusively predicted whether Apollo Global will be able to beat the Zacks Consensus Estimate this time around. This is because it does not have the right combination of the two key ingredients, a positive Earnings ESP and a Zacks Rank #3 (Hold) or better.
You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Earnings ESP: Apollo Global has an Earnings ESP of 0.00%.
Zacks Rank: The company currently carries a Zacks Rank of 3. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Performance of Investment Managers
SEI Investments Co.’s (SEIC - Free Report) third-quarter 2023 earnings of 87 cents per share met the Zacks Consensus Estimate. The bottom line reflects a rise of 93% from the prior-year quarter.
SEIC’s results benefited from higher revenues and an increase in the AUM balance. Lower expenses acted as another tailwind for SEIC.
BlackRock, Inc.’s (BLK - Free Report) third-quarter 2023 adjusted earnings of $10.91 per share handily surpassed the Zacks Consensus Estimate of $8.52 per share. Also, the figure reflects an increase of 14.2% from the year-ago quarter.
BLK’s results benefited from a rise in revenues and higher non-operating income. Further, the AUM balance witnessed improvement. However, higher expenses acted as a headwind for BLK.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.