KKR Q1 Performance: Fall In EPS, Book Value, Growth In AUM

KKR & Co Inc KKR reported Q1 2023 revenues of $3.13 billion, higher than $999.4 million a year ago.
The company reported after-tax adjusted distributable EPS of $0.81, down 26% Y/Y, which beat the consensus of $0.74.
Asset management segment revenues of $1.28 billion beat the consensus of $1.22 billion.
In Insurance segment, net investment income rose to $1.27 billion from $862.4 million in prior year, led by a rise in invested assets from new business growth and increased yields.
Fee Related Earnings declined 9% Y/Y to $549 million in the quarter due to lower capital markets revenues on reduced issuance levels in global equity and leveraged loan markets.
Assets under management rose 6% Y/Y to $510 billion, with organic new capital of $12 billion raised in Q1 2023.
Book value per adjusted shares fell 4% Y/Y to $27.65 in the quarter.
Dividend: KKR declared a dividend per share of $0.165, payable on June 6, 2023, to shareholders of record as on May 22, 2023.
"Over the last 12 months, 95% of the new capital entrusted to us has been outside of our traditional private equity funds reflecting our continued diversification. In our experience, volatility creates opportunity — with over $100 billion of dry powder ready to deploy on behalf of our clients globally, we remain very well positioned,” said Joseph Y. Bae and Scott C. Nuttall, Co-Chief Executive Officers.
Also read: KKR Buys Liquid Cooling Solutions Provider CoolIT Systems For Undisclosed Sum
Price Action: KKR shares are trading lower by 1.82% at $50.57 on the last check Monday.

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