Early Access

10-QPeriod: Q1 FY2015

Blackstone Inc. Quarterly Report for Q1 Ended Mar 31, 2015

Filed May 8, 2015For Securities:BX

Summary

Blackstone Inc. (BX) reported strong financial performance for the quarter ended March 31, 2015, with total revenues reaching $2.5 billion, a significant 63% increase year-over-year. This growth was largely driven by a substantial surge in Performance Fees, up 116% to $1.7 billion, primarily fueled by strong appreciation in its Private Equity and Real Estate segments. The company's net income also saw a substantial increase, more than doubling to $1.48 billion, with net income attributable to The Blackstone Group L.P. rising by 137% to $629 million. Despite increased compensation expenses, up 33% to $963 million, reflecting the performance-driven nature of its compensation structure and business growth, Blackstone demonstrated robust profitability and effective expense management. Key operational metrics also showed positive trends, with Fee-Earning Assets Under Management increasing to $223.5 billion and Total Assets Under Management reaching $310.5 billion, indicating continued growth in assets managed across its various segments. The company maintained a strong liquidity position with $1.1 billion in cash and cash equivalents and significant investments in liquid assets. Distributions to common unitholders were also strong, reflecting the company's commitment to returning capital to shareholders.

Financial Highlights

33 data points
Beta

Revenue

$2.51B

Net Income

$629.45M

0.3% Net Margin

EPS (Diluted)

$1.00

Total Assets

$32.41B

Cash & Equivalents

$1.14B

Free Cash Flow

$476.01M

Financial Statements
Beta
Revenue$2.51B
Operating Expenses$1.14B
Interest Expense$31.37M
Net Income$629.45M
EPS (Basic)$1.01
EPS (Diluted)$1.00
Shares Outstanding (Basic)625.28M
Shares Outstanding (Diluted)631.23M

Key Highlights

  • 1Total Revenues surged by 63% to $2.5 billion, driven by a significant increase in Performance Fees.
  • 2Performance Fees grew by 116% to $1.7 billion, primarily due to strong appreciation in Private Equity and Real Estate investments.
  • 3Net Income increased by 127% to $1.48 billion, reflecting the strong revenue growth.
  • 4Net Income Attributable to The Blackstone Group L.P. rose by 137% to $629 million.
  • 5Fee-Earning Assets Under Management increased by 3% to $223.5 billion.
  • 6Total Assets Under Management grew by 7% to $310.5 billion.
  • 7Distributions to common unitholders for Q1 2015 were $0.89 per common unit.

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