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What's in the Cards for Blackstone (BX) in Q2 Earnings?
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Blackstone (BX - Free Report) is scheduled to report second-quarter 2024 results on Jul 18, before the opening bell. Its revenues and earnings are likely to have improved in the to-be-reported quarter on a year-over-year basis.
In the last reported quarter, the company’s earnings were in line with the Zacks Consensus Estimate. Results benefited from a rise in segment revenues and improvement in the assets under management (AUM) balance. However, higher GAAP expenses hurt the results to some extent.
Blackstone has a decent earnings surprise history. Its earnings surpassed the Zacks Consensus Estimate in two, matched in one and lagged in one of the trailing four quarters, the average surprise being 3.5%.
The Zacks Consensus Estimate for Blackstone’s second-quarter earnings of 99 cents per share has been revised 4.8% lower over the past seven days. The figure indicates a rise of 6.5% from the prior-year quarter’s reported number.
The consensus estimate for sales is pegged at $2.50 billion, which suggests a year-over-year rise of 6.3%.
Key Factors & Estimates for Q2
Blackstone has been witnessing increases in fee-earning AUM and total AUM on the back of its diversified product and revenue mix, a superior position in the alternative investments space, and net inflows.
Despite low market volatility in the second quarter, Blackstone is expected to have recorded a rise in the AUM balance, supported by increased client activity.
The Zacks Consensus Estimate for AUM is pegged at $1.09 trillion, which indicates growth of 8.6% from the prior-year quarter’s actual. The consensus estimate for total fee-earning AUM of $813 billion suggests a year-over-year rise of 11.2%.
The Zacks Consensus Estimate for net management and advisory fees (segment revenues) for the to-be-reported quarter is pegged at $1.67 billion, which indicates a 2% decline from the prior-year quarter.
The consensus estimate for fee-related performance revenues (segment revenues) of $223 million suggests a decline of 16.5% from the prior-year quarter.
Blackstone’s expenses have been elevated over the past few years mainly because of higher general, administrative and other expenses. As the company has been continuing to make investments in franchises, expenses are expected to have risen to some extent in the second quarter.
Earnings Whispers
According to our quantitative model, the chances of Blackstone beating the Zacks Consensus Estimate for earnings this time are low. This is because it does not have the right combination of the two key ingredients — a positive Earnings ESP and Zacks Rank #3 (Hold) or better.
You can uncover the best stocks to buy or sell before they are reported with our Earnings ESP Filter.
Earnings ESP: The Earnings ESP for Blackstone is -0.49%.
Zacks Rank: The company currently carries a Zacks Rank #4 (Sell).
Stocks That Warrant a Look
A couple of finance stocks that you may want to consider, as our model shows that these have the right combination of elements to post an earnings beat this time, are Capital One Financial Corporation (COF - Free Report) and Moody's Corporation (MCO - Free Report) .
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What's in the Cards for Blackstone (BX) in Q2 Earnings?
Blackstone (BX - Free Report) is scheduled to report second-quarter 2024 results on Jul 18, before the opening bell. Its revenues and earnings are likely to have improved in the to-be-reported quarter on a year-over-year basis.
In the last reported quarter, the company’s earnings were in line with the Zacks Consensus Estimate. Results benefited from a rise in segment revenues and improvement in the assets under management (AUM) balance. However, higher GAAP expenses hurt the results to some extent.
Blackstone has a decent earnings surprise history. Its earnings surpassed the Zacks Consensus Estimate in two, matched in one and lagged in one of the trailing four quarters, the average surprise being 3.5%.
Blackstone Inc. Price and EPS Surprise
Blackstone Inc. price-eps-surprise | Blackstone Inc. Quote
The Zacks Consensus Estimate for Blackstone’s second-quarter earnings of 99 cents per share has been revised 4.8% lower over the past seven days. The figure indicates a rise of 6.5% from the prior-year quarter’s reported number.
The consensus estimate for sales is pegged at $2.50 billion, which suggests a year-over-year rise of 6.3%.
Key Factors & Estimates for Q2
Blackstone has been witnessing increases in fee-earning AUM and total AUM on the back of its diversified product and revenue mix, a superior position in the alternative investments space, and net inflows.
Despite low market volatility in the second quarter, Blackstone is expected to have recorded a rise in the AUM balance, supported by increased client activity.
The Zacks Consensus Estimate for AUM is pegged at $1.09 trillion, which indicates growth of 8.6% from the prior-year quarter’s actual. The consensus estimate for total fee-earning AUM of $813 billion suggests a year-over-year rise of 11.2%.
The Zacks Consensus Estimate for net management and advisory fees (segment revenues) for the to-be-reported quarter is pegged at $1.67 billion, which indicates a 2% decline from the prior-year quarter.
The consensus estimate for fee-related performance revenues (segment revenues) of $223 million suggests a decline of 16.5% from the prior-year quarter.
Blackstone’s expenses have been elevated over the past few years mainly because of higher general, administrative and other expenses. As the company has been continuing to make investments in franchises, expenses are expected to have risen to some extent in the second quarter.
Earnings Whispers
According to our quantitative model, the chances of Blackstone beating the Zacks Consensus Estimate for earnings this time are low. This is because it does not have the right combination of the two key ingredients — a positive Earnings ESP and Zacks Rank #3 (Hold) or better.
You can uncover the best stocks to buy or sell before they are reported with our Earnings ESP Filter.
Earnings ESP: The Earnings ESP for Blackstone is -0.49%.
Zacks Rank: The company currently carries a Zacks Rank #4 (Sell).
Stocks That Warrant a Look
A couple of finance stocks that you may want to consider, as our model shows that these have the right combination of elements to post an earnings beat this time, are Capital One Financial Corporation (COF - Free Report) and Moody's Corporation (MCO - Free Report) .
MCO is scheduled to release second-quarter 2024 earnings on Jul 23. The company, which carries a Zacks Rank #2 (Buy) at present, has an Earnings ESP of +6.44%. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
The Earnings ESP for COF is +1.52% and it carries a Zacks Rank #3 at present. The company is slated to report second-quarter 2024 results on Jul 23.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.