Blackstone Q3 Profit Drops 13% as Exit Market Freezes Up
BX is trading near its 52-week low of $101.73 (7.0% above the low).
Summary
Blackstone's distributable earnings fell 13% to $1.32 per share, or $1.72B, as turbulent markets choked off investment exits. Net realizations dropped 34% to about $332 million, with private equity proceeds down nearly 50% — the clearest sign that the firm's carry engine is stalled. The offset: net inflows of $63.31B lifted AUM to $1.37 trillion and fee-related earnings to $1.57B, with credit and insurance pulling in nearly $36 billion. Revenue came in at $3.06B, EPS was 83c and fee-related EPS was $1.26. That recurring fee base is what's holding the story together while realizations dry up. Global M&A fell 41% sequentially in Q3 per LSEG, and Blackstone shares are down nearly 30% this year, worse than the broader market's 13% gain. The stock reaction hinges on whether fee growth can keep offsetting a frozen exit market; BCRED redemption requests were already flagged as elevated last month.
At the time of this announcement, BX was trading at $108.90 on NYSE in the Finance sector, with a market capitalization of approximately $136.1B. The 52-week trading range was $101.73 to $165.14. This news item was assessed with neutral market sentiment and an importance score of 8 out of 10. Source: Reuters.