Carlyle Shares Gain 4.7% as Q2 Earnings Meet Estimates, AUM Rises Y/Y

The Carlyle Group Inc. CG reported second-quarter 2025 post-tax distributable earnings per share of 91 cents, which matched the Zacks Consensus Estimate. The figure compared favorably with earnings of 78 cents per share in the year-ago quarter.

Shares of CG have gained 4.7% in yesterday’s trading session.

Results benefited from increases in realized performance revenues, segmental revenues and fee revenues. A rise in the assets under management (AUM) balance offered support. However, an increase in expenses acted as a headwind.

Net income attributable to Carlyle was $319.7 million compared with $148.2 million in the year-ago quarter.

Carlyle’s Revenues & Expenses Rise

Second-quarter segmental revenues were $984 million, up 24.7% from the year-ago quarter. The top line surpassed the Zacks Consensus Estimate by 2.8%.

Total segment fee revenues were up 15.1% year over year to $676.2 million. An increase in transaction and portfolio advisory fees, as well as fee-related performance revenues, led to the rise.

Realized performance revenues jumped 66% from the year-ago quarter to $259.8 million.

Total segmental expenses rose 24.1% to $553 million.

CG’s Total AUM Rises

As of June 30, 2025, total AUM was $465 billion, up 6.9% from the prior-year quarter.

The fee-earning AUM was $325 billion, which rose 5.9% year over year.

Carlyle’s Capital Distribution Activities

In the reported quarter, CG repurchased or withheld 2.3 million shares of common stock for $104 million. As of June 30, 2025, $0.6 billion worth of shares were available under the authorization.

The company also declared a quarterly dividend of 35 cents per share. The dividend will be paid out on Aug. 28, 2025, to shareholders of record as of Aug. 18, 2025.

Our View on CG

A rising total AUM balance, along with efforts to expand its investment platforms, will likely support Carlyle’s revenue growth in the long run. However, the rise in expenses is a headwind. Further, the competitive financial environment, along with the volatile macroeconomic backdrop, is concerning.

Carlyle Group Inc. Price, Consensus and EPS Surprise

Carlyle Group Inc. price-consensus-eps-surprise-chart | Carlyle Group Inc. Quote

CG currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.

Performance of Other Asset Managers

Lazard Inc.’s LAZ second-quarter 2025 adjusted earnings per share of 52 cents beat the Zacks Consensus Estimate of 38 cents. This compared favorably with earnings of 49 cents per share in the year-ago quarter.

LAZ’s results were positively impacted by increases in revenues in the financial advisory and asset management sectors. A rise in AUM balances was another positive. However, a decrease in revenues in the corporate segment and elevated operating expenses acted as a spoilsport.

BlackRock’s BLK second-quarter 2025 adjusted earnings of $12.05 per share handily surpassed the Zacks Consensus Estimate of $10.66. The figure reflects a rise of 16% from the year-ago quarter.

The results of BLK benefited from a rise in revenues. AUM witnessed robust growth, reaching a record high of $12.52 trillion, driven by net inflows, market appreciation, and a favorable foreign exchange impact. However, higher expenses acted as a headwind.

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This article originally published on Zacks Investment Research (zacks.com).

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