The earnings call reflects a strong performance for KKR in 2024, with record earnings growth, significant capital raising, and expansion in private wealth and strategic holdings. However, short-term challenges in private equity performance and insurance operating earnings were noted. Overall, the sentiment is positive with confidence in continued growth and strategic initiatives.

Company Guidance

In KKR's fourth quarter 2024 earnings call, the company demonstrated strong financial performance with fee related earnings per share (FRE) increasing by 24% year-over-year to $0.94, and adjusted net income (ANI) rising by 32% to $1.32 per share. For the full year, FRE per share reached $3.66, and ANI per share hit $4.70, marking record annual figures with growth rates of 37% and 38%, respectively. The firm's management fees for Q4 were $906 million, up 15% from the previous year, while total fee related revenues climbed 17% to $1.3 billion. KKR's insurance operating earnings were $250 million, and Strategic Holdings operating earnings were $8 million, contributing to total operating earnings of $1.23 per share. The company also highlighted its robust asset management business, having raised $27 billion in the quarter and $114 billion throughout 2024, a record year for capital raising. KKR plans to increase its annual dividend from $0.70 to $0.74 per share starting with the first quarter of 2025, reflecting confidence in its growth trajectory.

Strong Year-End Financial Performance

Fee related earnings per share increased by 24% year-over-year, reaching $0.94, the second highest quarterly figure in KKR's history. Adjusted net income per share rose by 32% year-over-year to $1.32.

Record Annual Performance

For the year, fee related earnings per share and adjusted net income per share grew by 37% and 38% respectively, both marking record annual figures for KKR.

Robust Capital Raising

KKR raised $27 billion in the quarter, contributing to a total of $114 billion for 2024, marking the second most active year in its history. This is a significant increase from $70 billion in 2023.

Expansion in Private Wealth

Assets under management from individuals reached approximately $100 billion, with significant growth in K-Series vehicles, which increased from $7 billion to $18 billion year-over-year.

Strategic Holdings Growth

KKR plans to increase stakes in three businesses by $2.1 billion, with $1.1 billion coming from KKR itself. This is expected to drive future earnings and management fees.

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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
May 06, 2025	2025 (Q1)	1.23 / -	0.97	―	―	―
Feb 04, 2025	2024 (Q4)	1.28 / 1.32	1	32.00% (+0.32)	―
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)	―

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
Feb 04, 2025	$163.01	$149.11	-8.53%
Oct 24, 2024	$138.20	$142.92	+3.42%
Jul 31, 2024	$119.50	$122.95	+2.89%
May 01, 2024	$92.53	$94.57	+2.20%

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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