Blackstone (NYSE:BX) Releases Earnings Results, Beats Expectations By $0.02 EPS

Key Points

• Blackstone slightly beat expectations with $1.36 EPS and revenue of $3.62B, while distributable earnings rose 25% to $1.8B, fee revenue showed strong growth and the firm recently increased its quarterly dividend to $1.49 (annualized $5.96, ~4.9% yield).
• The firm reported robust fundraising and scale—about $69B of inflows in Q1 and nearly $250B over the last 12 months—driving record total AUM above $1.3 trillion and positioning Blackstone as a major investor in the AI/data‑center ecosystem with large owned and pipeline assets.
• Private‑credit showed strain despite long‑term returns: BCRED had gross sales but $1.4B of net outflows and reported markdowns in some credit holdings, which, together with analyst price‑target cuts, coincided with the stock trading down (~5.7%).

Blackstone (NYSE:BX - Get Free Report) released its quarterly earnings results on Thursday. The asset manager reported $1.36 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.34 by $0.02, FiscalAI reports. The business had revenue of $3.62 billion during the quarter, compared to the consensus estimate of $3.45 billion. Blackstone had a return on equity of 22.17% and a net margin of 20.89%.The business's revenue was up 10.0% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.11 EPS.

Here are the key takeaways from Blackstone's conference call:

• Distributable earnings rose 25% year‑over‑year to $1.8 billion, and the board declared a $1.16 per share dividend for the quarter.
• Fundraising and scale were strong — $69 billion of inflows in Q1 and nearly $250 billion over the last 12 months, driving AUM to a record > $1.3 trillion.
• Blackstone positions itself as a leading investor in the AI ecosystem with over $150 billion of data‑center assets, a ~$160 billion development pipeline, and a planned public vehicle to monetize stabilized data centers.
• Private credit faces retail channel pressure — despite a long‑term track record (~9.4% net returns), BCRED saw gross sales of $1.9 billion but net outflows of $1.4 billion amid negative press and increased repurchases.
• Fee revenue momentum remains strong — fee‑related earnings up 23% to $1.5 billion, fee revenues up 20% to $2.6 billion, and record base management fees of $2.1 billion.

Blackstone Trading Down 5.7%

BX opened at $122.33 on Friday. The firm's fifty day moving average price is $116.77 and its 200 day moving average price is $138.66. The stock has a market capitalization of $90.79 billion, a PE ratio of 31.53, a P/E/G ratio of 1.35 and a beta of 1.74. Blackstone has a 12-month low of $101.73 and a 12-month high of $190.09. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.76 and a quick ratio of 0.76.

Blackstone Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, February 17th. Stockholders of record on Monday, February 9th were given a dividend of $1.49 per share. The ex-dividend date of this dividend was Monday, February 9th. This is an increase from Blackstone's previous quarterly dividend of $1.29. This represents a $5.96 dividend on an annualized basis and a dividend yield of 4.9%. Blackstone's dividend payout ratio is 153.61%.

Key Blackstone News

Here are the key news stories impacting Blackstone this week:

• Positive Sentiment: Record AUM, fee‑earning AUM growth and revenue outperformance — Blackstone reported fee‑earning AUM near $938B and total AUM around $1.3T, and revenue topped estimates, supporting the firm’s growth story and fee revenue durability. BX's Q1 Earnings Top as AUM Hits Record High Despite Tough Environment
• Positive Sentiment: Distributable earnings and segment strengths — Management highlighted gains in Infrastructure and Tactical Opportunities and reported higher distributable earnings, indicating operating momentum across key strategies. Blackstone Q1 earnings beat, bolstered by Infrastructure, Tactical Opportunities returns
• Positive Sentiment: Portfolio project progress — A Blackstone‑backed energy project (Kindle Energy/Wolf Summit) broke ground, demonstrating portfolio deployment and Energy Transition activity that can realize long‑term value. Kindle Energy Breaks Ground on Blackstone-Backed $1.2 Billion Natural Gas Power Generation Facility in West Virginia
• Neutral Sentiment: Quarterly call and transcript provide details for investors — The earnings call transcript contains management commentary on fundraising, realizations and outlook that will guide near‑term sentiment but did not materially change fundamental guidance. Blackstone Inc. (BX) Q1 2026 Earnings Call Transcript
• Neutral Sentiment: Blackstone‑exposed ETFs and market positioning — Some ETFs that track Blackstone exposure showed strong YTD performance after Q1, which can amplify flows into/away from BX indirectly. Blackstone-exposed ETFs ranked by YTD performance after strong Q1 results
• Negative Sentiment: Slight EPS miss and weaker GAAP profit — BX reported EPS of $1.36 (vs. consensus ~$1.38) and GAAP profit metrics that underwhelmed some investors as GAAP expenses rose, creating headline risk despite revenue beats. Blackstone Inc. (BX) Q1 Earnings and Revenues Beat Estimates
• Negative Sentiment: Private‑credit markdowns and portfolio write‑downs — Reports that a Blackstone private‑credit fund reduced the valuation of ACI Group holdings highlight ongoing mark‑to‑market risk in credit portfolios and raise concerns about downside in that strategy. Blackstone's private credit fund slashes value of ACI Group Holdings
• Negative Sentiment: Analyst reactions and price‑target cuts — Several broker notes and at least one price‑target reduction appeared after results, and some firms issued more cautious outlooks, which can pressure sentiment and amplify selling. Morgan Stanley Lowers Blackstone NYSE: BX Price Target to $184.00

Insider Activity at Blackstone

In related news, major shareholder Holdings Iv Gp Mana Blackstone purchased 2,868,069 shares of the company's stock in a transaction dated Friday, March 20th. The shares were acquired at an average cost of $26.15 per share, for a total transaction of $75,000,004.35. Following the transaction, the insider owned 18,628,295 shares of the company's stock, valued at $487,129,914.25. This trade represents a 18.20% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, major shareholder Bx Buzz Ml-1 Gp Llc sold 7,477,504 shares of the company's stock in a transaction on Tuesday, March 17th. The stock was sold at an average price of $3.51, for a total value of $26,246,039.04. Following the transaction, the insider owned 25,832 shares of the company's stock, valued at approximately $90,670.32. The trade was a 99.66% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 1.00% of the company's stock.

Institutional Investors Weigh In On Blackstone

Institutional investors have recently bought and sold shares of the stock. Brighton Jones LLC lifted its position in shares of Blackstone by 34.6% during the 4th quarter. Brighton Jones LLC now owns 7,917 shares of the asset manager's stock valued at $1,365,000 after acquiring an additional 2,035 shares during the last quarter. United Bank increased its stake in Blackstone by 14.7% in the 2nd quarter. United Bank now owns 13,528 shares of the asset manager's stock worth $2,024,000 after purchasing an additional 1,729 shares in the last quarter. Sivia Capital Partners LLC lifted its stake in Blackstone by 9.3% during the second quarter. Sivia Capital Partners LLC now owns 2,076 shares of the asset manager's stock valued at $310,000 after buying an additional 177 shares in the last quarter. Fairfield Bush & CO. raised its holdings in shares of Blackstone by 8.5% during the fourth quarter. Fairfield Bush & CO. now owns 1,964 shares of the asset manager's stock valued at $303,000 after acquiring an additional 154 shares during the period. Finally, Garton & Associates Financial Advisors LLC acquired a new stake in Blackstone during the 4th quarter valued at $280,000. Institutional investors and hedge funds own 70.00% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on BX shares. Piper Sandler dropped their target price on Blackstone from $158.00 to $122.00 and set a "neutral" rating for the company in a research note on Tuesday, April 7th. Citizens Jmp lowered their target price on shares of Blackstone from $195.00 to $190.00 and set a "market outperform" rating for the company in a report on Wednesday. Rothschild & Co Redburn lowered their price objective on shares of Blackstone from $158.00 to $138.00 and set a "neutral" rating for the company in a research note on Thursday, April 9th. BNP Paribas Exane reduced their target price on Blackstone from $167.00 to $156.00 and set a "neutral" rating on the stock in a report on Monday, January 12th. Finally, Barclays reduced their price objective on Blackstone from $126.00 to $124.00 and set an "equal weight" rating on the stock in a research note on Wednesday, April 8th. Eleven analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company. According to MarketBeat, Blackstone has an average rating of "Moderate Buy" and an average target price of $153.77.

Blackstone Company Profile

Blackstone Inc NYSE: BX is a global investment firm focused on alternative asset management. Founded in 1985 by Stephen A. Schwarzman and Peter G. Peterson and headquartered in New York City, the firm organizes and manages investment vehicles that acquire and operate businesses, real estate and credit investments, as well as provide hedge fund solutions and other alternative strategies for institutional and individual investors.

Blackstone's business is organized around several principal investment platforms.