The earnings call presented a strong performance across multiple segments, particularly in infrastructure, credit, and capital markets. Record fee-related earnings and significant fundraising achievements highlighted the firm's growth momentum. While some challenges were noted in fee structures and the IPO market, the overall outlook remains robust with substantial opportunities for future growth.

Company Guidance

During the KKR third quarter 2024 earnings call, the company provided robust guidance, highlighting several key financial metrics and strategic initiatives. KKR achieved a record fee-related earnings (FRE) of over $1 billion for the quarter, translating to $1.12 per share, a 32% increase over the previous quarter. Adjusted net income (ANI) per share was $1.38, representing a 57% year-over-year increase. The firm raised $87 billion in new capital year-to-date, more than doubling the amount raised in the first nine months of 2023, and deployed $61 billion, also more than double the previous year. Total operating earnings were $1.47 per share, comprising 81% of segment earnings. The traditional private equity portfolio appreciated by 5% in the quarter, while infrastructure was up 6%, and leverage credit composite rose by 2%. KKR's Capital Markets business generated a record $424 million in revenues, driven by increased investment activity. The company remains optimistic about future growth, with expectations for net dividends from Strategic Holdings to significantly increase in the coming years.

Record Fee-Related Earnings

Fee-related earnings for Q3 2024 eclipsed $1 billion for the first time, with FRE per share at $1.12, representing a 32% increase from the previous quarter.

Strong Fundraising and Deployment

KKR raised $87 billion of new capital year-to-date, more than double the amount from the first 9 months of 2023, and deployment totaled $61 billion, also more than double the previous year.

Infrastructure and Credit Growth

Infrastructure AUM increased to $77 billion from $13 billion five years ago, and credit AUM is at $240+ billion, with the asset-based finance team showing 40% growth year-over-year.

Capital Markets Revenue Surge

Record $424 million of Capital Markets revenues in the quarter, showcasing the breadth and diversification of KKR's business model.

Improved Monetization and Investment Performance

Gross proceeds from monetization activity year-to-date reached approximately $13 billion, up over 60% from the same time last year, and traditional private equity appreciated 17% over the last 12 months.

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KKR & Co (KKR) Earnings, Revenues Date & History

The upcoming earnings date is based on a company’s previous reporting, and may be updated when the actual date is announced

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KKR Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Feb 11, 2025	2024 (Q4)	1.31 / -	1	―	―	―
Oct 24, 2024	2024 (Q3)	1.20 / 1.38	0.88	56.82% (+0.50)	―
Jul 31, 2024	2024 (Q2)	1.06 / 1.09	0.73	49.32% (+0.36)	―
May 01, 2024	2024 (Q1)	0.95 / 0.97	0.81	19.75% (+0.16)	―
Feb 06, 2024	2023 (Q4)	0.92 / 1.00	0.92	8.70% (+0.08)	―
Nov 07, 2023	2023 (Q3)	0.83 / 0.88	0.93	-5.38% (-0.05)
Aug 07, 2023	2023 (Q2)	0.71 / 0.73	0.95	-23.16% (-0.22)	―
May 08, 2023	2023 (Q1)	0.74 / 0.81	1.1	-26.36% (-0.29)	―
Feb 07, 2023	2022 (Q4)	0.85 / 0.92	1.59	-42.14% (-0.67)	―
Nov 01, 2022	2022 (Q3)	0.87 / 0.93	1.05	-11.43% (-0.12)	―

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

Beat

Missed

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KKR Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Oct 24, 2024	$138.37	$143.10	+3.42%
Jul 31, 2024	$119.65	$123.10	+2.88%
May 01, 2024	$92.65	$94.69	+2.20%
Feb 06, 2024	$87.90	$93.00	+5.80%

Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.

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