Summary
KKR & Co. Inc. (KKR) reported strong financial results for the second quarter and first half of 2024, driven by robust growth across its Asset Management and Insurance segments. Total revenues increased significantly year-over-year, reflecting higher management and transaction fees, and increased net investment income from Global Atlantic. The company's Adjusted Net Income and Total Segment Earnings demonstrated substantial year-over-year growth, indicating effective operational performance. The Strategic Holdings segment, newly reported this quarter, contributed positively with dividend income. KKR's AUM and FPAUM saw healthy increases, reflecting successful capital raising and deployment across its various strategies. Despite some macroeconomic headwinds, KKR's diversified business model and disciplined investment approach continue to drive solid financial performance, positioning the company favorably for future growth.
Financial Highlights
27 data pointsKey Highlights
- 1Total Revenues increased to $4.17 billion for Q2 2024 and $13.83 billion for the first half of 2024, up significantly from the prior year periods, driven by strong performance in both Asset Management and Insurance segments.
- 2Asset Management Segment Earnings grew to $996 million for Q2 2024 and $1.86 billion for the first half of 2024, demonstrating solid growth in fee-related earnings and realized performance income.
- 3Insurance Operating Earnings increased to $253.2 million for Q2 2024 and $526.1 million for the first half of 2024, primarily driven by higher net investment income and the full consolidation of Global Atlantic following the January 2024 acquisition.
- 4Strategic Holdings segment reported $40.9 million in Operating Earnings for Q2 2024 and $61.6 million for the first half of 2024, reflecting dividend income from its core private equity investments.
- 5Assets Under Management (AUM) grew to $601.3 billion as of June 30, 2024, up from $577.6 billion at the end of Q1 2024, showcasing continued fundraising success.
- 6KKR maintained a strong liquidity position with $7.83 billion in Cash and Cash Equivalents for Asset Management and Strategic Holdings as of June 30, 2024.
- 7The company declared a quarterly dividend of $0.175 per share, payable in August 2024, reflecting its commitment to returning capital to shareholders.