Carlyle (CG) Q2 Earnings: What To Expect

Private equity firm Carlyle Group (NASDAQ:CG) will be announcing earnings results this Wednesday before market hours. Here’s what investors should know.
Carlyle missed analysts’ revenue expectations last quarter, reporting revenues of $750.9 million, down 28% year on year. It was a softer quarter for the company, with a slight miss of analysts’ AUM estimates and a significant miss of analysts’ EPS estimates.
Is Carlyle a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, the market is expecting Carlyle’s revenue to decline 6.8% year on year, a reversal from the 24.7% increase it recorded in the same quarter last year.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business will stay the course heading into earnings. Carlyle has missed Wall Street’s revenue estimates multiple times over the last two years.
Looking at Carlyle’s peers in the asset management segment, some have already reported their Q2 results, giving us a hint as to what we can expect. Blackstone delivered year-on-year revenue growth of 23.8%, beating analysts’ expectations by 10.9%, and Artisan Partners reported revenues up 8.9%, topping estimates by 2.3%. Blackstone traded up 5.8% following the results while Artisan Partners was down 1.3%.
Read our full analysis of Blackstone’s results here and Artisan Partners’s results here.
There has been positive sentiment among investors in the asset management segment, with share prices up 4.9% on average over the last month. Carlyle is up 11% during the same time and is heading into earnings with an average analyst price target of $55.59 (compared to the current share price of $49.03).
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