Blackstone Inc. Quarterly Report for Q3 Ended Sep 30, 2018

Summary

Blackstone Inc. (BX) reported its third-quarter 2018 financial results, showing a robust increase in total revenues to $1.93 billion, up 11% year-over-year, driven by strong performance across its segments, particularly Private Equity and Real Estate. Net income attributable to The Blackstone Group L.P. rose by 17% to $442.7 million, with diluted earnings per common unit at $0.64. The company's Assets Under Management (AUM) demonstrated significant growth, reaching $456.7 billion, a 4% increase from the previous quarter and an 18% increase year-over-year, reflecting continued success in capital raising and investment deployment. Fee-earning AUM also saw a healthy increase, highlighting the growth in revenue-generating assets. The company's liquidity position remains strong, with substantial cash reserves and access to a revolving credit facility. Blackstone also continued its unit repurchase program, repurchasing $218.4 million worth of common units in the third quarter, underscoring its commitment to returning capital to shareholders. The company's diversified business segments and strong AUM growth position it favorably within the alternative asset management industry.

Key Highlights

• 1Total Revenues increased by 11% year-over-year to $1.93 billion.
• 2Net Income Attributable to The Blackstone Group L.P. increased by 17% year-over-year to $442.7 million.
• 3Diluted Net Income Per Common Unit was $0.64.
• 4Total Assets Under Management (AUM) grew to $456.7 billion, up 4% from the prior quarter and 18% year-over-year.
• 5Fee-Earning Assets Under Management increased to $342.3 billion.
• 6The company repurchased $218.4 million of its common units during the quarter.
• 7Strong performance in Private Equity and Real Estate segments contributed significantly to revenue growth.

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