Shares of Carlyle Group closed down by 0.41% at $27.05 per share on Tuesday and were unchanged in premarket trading as of this writing
Carlyle Group released its latest earnings report before opening bell this morning, posting economic net income of 56 cents per share on $649 million in revenue. Analysts had been expecting earnings of 44 cents per share on $599.57 million in revenue. In the same quarter a year ago, the firm reported economic net income of $1.64 per share or $567 million.
Key metrics from Carlyle Group’s earnings report
The firm said 2014 was the most profitable year since its initial public offering in 2012. Profits for the fourth quarter were 23 cents per share or $16 million. That’s compared to $1.17 per share or $71 million in the previous year’s fourth quarter. This year’s fourth quarter profits include cash earnings and unrealized gains. Carlyle Group reported declines in profits for all of its four divisions: corporate private equity, real estate, specialty investing, and lending and hedge funds.
Electron Capital returned 3.1% for October, bringing its year-to-date return to 8.3%. The MSCI ACWI gained 6% for October, raising its year-to-date return to -22.3%, while the S&P 500 returned 8% in October for a year-to-date loss of 18.8%. The MSCI World Utilities Index was up 2.7% for October but remains down 13.5% year to Read More
Distributable earnings declined from $401 million in the fourth quarter of 2013 to $311 million in the fourth quarter of 2014. Carlyle Group plans to pay a dividend of $1.61 per share.
Carlyle Group adds billions in new money
The firm added $4.8 billion in new money and $24.2 billion in all of 2014. That’s compared to $3.8 billion and $22 billion in the previous year. Carlyle Group saw $5.6 billion from sales of assets during the fourth quarter and $19.7 billion in all of 2014. That’s compared to $6.3 billion in the fourth quarter of 2013 and $17.4 billion for all of 2013.
As of the end of the year, Carlyle Group had $194.5 billion in assets under management. At the end of 2013, the firm had $188.8 billion in assets under management. At the end of the third quarter of 2014, which ended in September, the firm reported $202.6 billion in assets under management.
The firm increased the amount it put into new deals in 2014 by approximately 20%.