Carlyle Group stock jumps after Q4 earnings beat, 2024 targets issued

Carlyle Group CEO Harvey Schwartz Interview

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Carlyle Group (NASDAQ:CG) stock surged 7.9% in Wednesday midday trading after the company’s Q4 earnings easily topped Wall Street expectations as assets under management jumped and fundraising accelerated.

The private equity firm posted Q4 distributable EPS of $0.86, vs. $0.78 consensus, fell from $0.87 in Q3 and $1.01 in Q4 2022.

The firm set 2024 fee-related earnings target of $1.1B (vs. $859M in 2023), fee-related margin target of 40%-50%, and inflows target of $40B or more. In addition it targets share repurchase capacity of $1.4B.

Total segment revenue of $1.06B declined from $1.40B in Q3 and increased from $896.4M in Q4 2022.

Fee-related earnings climbed to $254M from $205M in the prior quarter and $202M a year ago.

Total assets under management at Dec. 31, 2023 rose to $426B from $382B at Sept. 30. Fee-earning assets under management of $307B increased from $273B at the end of the prior quarter.

The company achieved fundrasing of $16.9B in Q4 vs. $6.3B in Q3.

Available capital for investment increased to $76B from $71B in the previous quarter.

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