Blackstone reports Q3 distributable EPS $1.01, consensus 92c

Reports Q3 fee-related EPS 96c. Reports Q3 revenue $2.54B, consensus $2.41B. Reports Q3 AUM $1.11T. Stephen A. Schwarzman, Chairman and CEO, said, “Blackstone reported strong third-quarter results, highlighted by broad-based acceleration across our business. We invested or committed $54 billion in the quarter – the highest in over two years – and deployed $123 billion in the last twelve months since the cost of capital peaked. The third quarter also represented the highest amount of overall fund appreciation in three years, and our limited partners entrusted us with over $40 billion of inflows. Blackstone is exceptionally well positioned as the reference firm in the alternatives industry, with leading platforms in compelling, high-growth areas.”