Blackstone 1Q Distributable Earnings Rise, Revenue Climbs

Published: 2026-04-23 07:34:25 ET BX

Published on 04/23/2026 at 07:34 am EDT

By Connor Hart

Blackstone's first-quarter distributable earnings climbed as the asset manager logged higher revenue and grew its assets under management.

Blackstone on Thursday posted quarterly net income of $649.7 million, or 83 cents a share, compared with $614.9 million, or 80 cents a share, a year earlier.

Distributable earnings, a closely tracked metric for publicly traded investment firms who pay dividends, rose to $1.76 billion, or $1.36 a share, from $1.41 billion, or $1.09 a share, in the same quarter last year.

Analysts polled by FactSet had forecast distributable earnings of $1.34 a share.

Fee-related earnings, another metric watched by analysts, climbed to $1.55 billion, or $1.26 a share, from $1.26 billion, or $1.03 a share, a year ago.

Total revenues grew 10% to $3.62 billion, while total assets under management increased 12% to $1.3 trillion.

Chief Executive Stephen Schwarzman said Blackstone delivered outstanding first-quarter results despite the turbulent environment, highlighted by almost $70 billion of inflows and positive appreciation across nearly all of its flagship strategies.

Total dry powder, or unspent capital, stood at $213.3 billion at the end of the recent quarter. Total cash, cash equivalents, corporate treasury, and other investments stood at $11.4 billion.

Write to Connor Hart at [email protected]

(END) Dow Jones Newswires

04-23-26 0733ET