Blackstone reports Q2 distributable EPS $1.21, consensus $1.10

Reports Q2 fee-related EPS $1.19. Reports Q2 revenue $3.71B, consensus $2.81B. Stephen A. Schwarzman, Chairman and CEO, said, “Blackstone (BX) delivered outstanding second-quarter results, reflective of the broader underlying expansion of the firm’s business and earnings power, particularly in private wealth, credit and insurance, and infrastructure. Despite the volatile market backdrop, we grew earnings significantly and total assets under management increased 13% year-over-year to more than $1.2 trillion-a new industry record. Most importantly, we continued to deliver strong investment performance for our LPs, with the highest overall amount of fund appreciation in nearly four years.”