Yahoo Finance What's in the Cards for Blackstone (BX) in Q1 Earnings?
Blackstone BX is scheduled to report first-quarter 2024 results on Apr 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 beat the Zacks Consensus Estimate. Results benefited from a rise in segment revenues and improvement in assets under management (AUM) balance. Further, GAAP expenses declined during the quarter.
Blackstone has a decent earnings surprise history. Its earnings surpassed the Zacks Consensus Estimate in two and matched 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 first-quarter earnings of 98 cents per share has been revised 1% lower over the past seven days. The figure indicates a rise of 1% from the prior-year quarter’s reported number.
The consensus estimate for sales is pegged at $2.51 billion, which suggests a year-over-year rise of 1%.
Key Factors and Estimates for Q1
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 subdued market volatility in the first quarter, Blackstone is expected to have recorded an increase in the AUM balance, supported by overall asset inflows.
The Zacks Consensus Estimate for AUM is pegged at $1.06 trillion, which indicates a rise of 7.1% from the prior-year quarter. Our estimate for total AUM is pinned at $1.02 trillion. The consensus estimate for total fee-earning AUM of $790 billion suggests a year-over-year rise of 7.9%. Our estimate for fee-earning AUM is pinned at $754.1 billion.
The Zacks Consensus Estimate for net management and advisory fees (segment revenues) for the to-be-reported quarter is pegged at $1.65 billion, which indicates a marginal decline from the prior-year quarter. Our estimate for the same is $1.26 billion.
The consensus estimate for fee-related performance revenues (segment revenues) of $212 million suggests a rise of 43.2% from the prior-year quarter. Our estimate for the metric is pinned at $279.8 million.
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 first quarter. Our estimate for total expenses (GAAP basis) is pinned at $1.69 billion, implying a year-over-year jump of 42.5%.
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 -0.43%.
Zacks Rank: The company currently carries a Zacks Rank of 3.
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 Fifth Third Bancorp FITB and Truist Financial TFC.
The Earnings ESP for FITB is +0.89%. The stock carries a Zacks Rank of 3 at present. FITB is slated to report first-quarter 2024 results on Apr 19.
TFC is scheduled to release first-quarter 2024 earnings on Apr 22. The company carries a Zacks Rank of 3 at present and has an Earnings ESP of +0.83%. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.
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Blackstone Inc. (BX) : Free Stock Analysis Report
Fifth Third Bancorp (FITB) : Free Stock Analysis Report
Truist Financial Corporation (TFC) : Free Stock Analysis Report
