Blackstone (BX) reported that its fourth-quarter net income to Blackstone declined to $151.8 million from $557.8 million, last year. Net income per share was $0.20 compared to $0.75. FRE per share was $0.86 compared to $0.88. DE per share was $1.11 compared to $1.07. On average, 18 analysts polled by Thomson Reuters expected the company to report profit per share of $0.96, for the quarter. Analysts' estimates typically exclude special items.
Fourth quarter total revenues declined to $1.28 billion from $1.70 billion, last year. Total segment revenues were $2.53 billion compared to $2.34 billion, previous year. Analysts on average had estimated $2.57 billion in revenue.
Stephen Schwarzman, CEO, said, "We are exceptionally well positioned for the road ahead with nearly $200 billion of dry powder capital to invest."
Total AUM increased to $1.04 trillion, up 7% year-over-year. Fee-earning AUM was $762.6 billion, up 6% year-over-year. At December 31, 2023, Blackstone had $8.4 billion in total cash, cash equivalents, corporate treasury, and otherinvestments and $16.9 billion of cash and net investments.
Blackstone has declared a quarterly dividend of $0.94 per share to record holders of common stock at the close of business on February 5, 2024. The dividend will be paid on February 12, 2024.
Shares of Blackstone are up 2% in pre-market trade on Thursday.
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