Summary
KKR & Co. Inc. reported strong financial results for the second quarter of 2020, driven by significant net gains from investment activities and an increase in capital allocation-based income. Total revenues increased by approximately 11% year-over-year to $1.33 billion. The company's Net Income Attributable to KKR & Co. Inc. Common Stockholders rose by 36% to $698.6 million, leading to diluted earnings per share of $1.24. Despite the positive performance in the quarter, the six-month period reflected a net loss due to a substantial decrease in capital allocation-based income, largely attributed to market volatility and the ongoing COVID-19 pandemic. The company's balance sheet saw an increase in total assets to $62.1 billion, while debt obligations also rose to $28.7 billion. KKR continues to manage its liquidity effectively and remains focused on its strategic growth initiatives, including the pending acquisition of Global Atlantic Financial Group Limited, which is expected to close in early 2021.
Financial Highlights
33 data points| Revenue | $1.33B |
| Interest Expense | $240.07M |
| Net Income | $706.97M |
Key Highlights
- 1Total revenues for Q2 2020 increased by 11% to $1.33 billion, driven by higher capital allocation-based income and net investment gains.
- 2Net Income Attributable to KKR & Co. Inc. Common Stockholders increased by 36% to $698.6 million in Q2 2020.
- 3Diluted EPS was $1.24 for Q2 2020, up from $0.93 in Q2 2019.
- 4Total assets grew to $62.1 billion as of June 30, 2020, compared to $60.9 billion as of December 31, 2019.
- 5Debt obligations increased to $28.7 billion as of June 30, 2020, from $27.0 billion as of December 31, 2019.
- 6The company announced its agreement to acquire Global Atlantic Financial Group Limited, expected to close in early 2021.
- 7The six-month period showed a net loss of $2.28 billion, primarily due to a significant decrease in capital allocation-based income and net losses from investment activities.