Compared to Estimates, Carlyle (CG) Q4 Earnings: A Look at Key Metrics

For the quarter ended December 2023, Carlyle Group (CG) reported revenue of $896.4 million, down 15.4% over the same period last year. EPS came in at $0.86, compared to $1.01 in the year-ago quarter.

The reported revenue compares to the Zacks Consensus Estimate of $848.57 million, representing a surprise of +5.64%. The company delivered an EPS surprise of +14.67%, with the consensus EPS estimate being $0.75.

While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.

As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.

Here is how Carlyle performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:

• Total AUM Roll Forward - Global Private Equity - EOP: $161.31 billion versus $165.68 billion estimated by four analysts on average.
• Total AUM Roll Forward - Global Investment Solutions - EOP: $76.86 billion versus the four-analyst average estimate of $73.96 billion.
• Total Fee-earning AUM Roll Forward - EOP: $307.42 billion versus the four-analyst average estimate of $296.19 billion.
• Fee-earning AUM Roll Forward - Global Investment Solutions - EOP: $45.53 billion compared to the $43.51 billion average estimate based on four analysts.
• Segment Revenues- Interest income: $23.90 million compared to the $14.84 million average estimate based on five analysts. The reported number represents a change of +46.6% year over year.
• Segment Revenues- Realized performance revenues: $257.70 million compared to the $234.66 million average estimate based on five analysts. The reported number represents a change of -43.9% year over year.
• Segment Revenues- Fund management fees: $525.10 million compared to the $527.43 million average estimate based on five analysts. The reported number represents a change of +2.5% year over year.
• Segment Revenues- Total segment fee revenues: $595.30 million versus the five-analyst average estimate of $578.35 million. The reported number represents a year-over-year change of +6.5%.
• Segment Revenues- Realized principal investment income (loss): $19.50 million compared to the $32.87 million average estimate based on five analysts. The reported number represents a change of -18.1% year over year.
• Fee related performance revenues: $35.60 million versus the five-analyst average estimate of $29.22 million.
• Segment Revenues- Transaction and portfolio advisory fees, net and other: $34.60 million versus $21.70 million estimated by five analysts on average. Compared to the year-ago quarter, this number represents a +95.5% change.
• Revenues- Global Investment Solutions- Realized performance revenues: $22.40 million compared to the $42.37 million average estimate based on four analysts.

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