Carlyle Misses Q1 Profit Estimates as Income Declines
Carlyle reported first-quarter profit of 89 cents per share, missing analyst estimates. The firm's lower performance revenue led to a reported GAAP net loss.
CARLYLE GROUP INC/THE reported Q1 distributable earnings of $327 million, or 89 cents per share, missing analyst estimates of 94 cents. Profits fell 28% from $455.4 million a year earlier as asset sales failed to generate immediate shareholder income. The earnings miss underscores the challenge private equity firms face in converting deal exits into realized performance revenue during market volatility.
Carlyle shares fell 4.7% on Thursday morning following the report. Distributable earnings per share dropped to 89 cents from $1.14 in the prior-year period, according to estimates compiled by LSEG.
