Carlyle Posts Q3 EPS Miss, Beats on Revenue

The Carlyle Group L.P (CG) reported early Wednesday financial results for Q3, with lower-than-expected earnings and revenue that topped analysts’ estimates; it also approved distributions on common units.

The global alternative asset manager posted economic earnings of $0.25 per adjusted unit, excluding one-time items, compared with the prior-year period’s $0.56 per adjusted unit. Analysts polled by Capital IQ were expecting EPS of $0.49.

Q3 earnings attributable to the company were $0.10 per unit, down from $0.43 per unit in the comparable quarter a year before.

Revenue was $679.1 million, up from $639.9 million in the same quarter last year. The Street view was for revenue of $660 million.

The company said that total Assets Under Management were $212.3 billion, which increased 22% compared with the prior-year quarter due to a combination of $50.7 billion in fundraising and $17.7 billion in market appreciation, partially offset by $27.1 billion in realized proceeds to fund investors.

The board of directors approved a quarterly distribution of $0.42 per common unit to holders of record at the close of business on Nov. 13, payable on Nov. 20. Previous distribution was $0.22 per common unit.