Patria Investments Ltd. (PAX)
NASDAQ:PAX
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Earnings Data
Report Date
Jul 30, 2026After Close (Confirmed)
Period Ending
2026 (Q2)Consensus EPS Forecast
0.3Last Year’s EPS
0.24Same Quarter Last Year
Moderate Buy
Based on 3 Analysts Ratings
Earnings Call Summary
Earnings Call Sentiment|Positive
The call presented a largely constructive operational and financial picture: significant fundraising momentum, strong fee-earning AUM growth (31% YoY), solid fee revenue (+20% YoY) and FRE growth (+19% YoY), successful long-term debt issuance, and strong investment performance in core strategies. Offsetting these positives are timing delays in performance-related earnings (PRE) and carry realization, DPI and exit challenges in older buyout vintages (Fund IV and V), and near-term expense and mix-driven margin headwinds (1Q FRE margin of 54.6% vs long-term target 58%–60%). Management reiterated full-year FRE guidance and outlined a credible path to margin expansion and continued fundraising, but some upside from carry is now expected later than previously guided.Company Guidance
Strong Fundraising Momentum
Raised $2.1 billion in 1Q26, keeping the firm on track for its full-year $7.0 billion fundraising guidance with upside potential to exceed the 2025 record of $7.7 billion.
Material Fee‑Earning AUM Growth
Fee-earning AUM reached $45.8 billion, up ~12% sequentially from 4Q25 and 31% year-over-year; pro forma for WP Global Partners AUM is ~$47.5 billion. Acquisitions (Solis and three Brazilian REITs: RBR, Vectis, Genial) added ~ $4.9 billion of fee-earning AUM.
Fee Revenues and FRE Growth
Total fee revenues were ~$92.6 million in 1Q26, up 20% year-over-year; fee-related earnings (FRE) were ~$50.5–51 million, up 19% year-over-year with an FRE margin of 54.6%. Full-year FRE guidance reaffirmed at $225M–$245M (15%–16% growth vs prior year).
Improving Earnings Per Share and Distributable Earnings
Distributable earnings per share were $0.27 in 1Q26, up 14% year-over-year; total distributable earnings were $42.4 million.
Successful Long‑Term Debt Issuance and Strong Balance Sheet Management
Completed $350 million fixed-rate long-term debt issuance (3x oversubscribed) with an average duration of 8.5 years and average coupon ~6.4%; pro forma net debt-to-FRE ratio ~0.8x, consistent with long-term target of ≤1.0x, and proceeds used to retire revolver and fund growth.
Diversification and Durable Fee Base
Over 85% of fee-earning AUM is in vehicles with no or limited redemptions; permanent capital stands at $10.7 billion (~23% of fee-earning AUM). Pending fee-earning AUM rose ~17% to ~$3.3 billion, providing visibility into future management fees.
Strong Investment Performance in Key Strategies
Major strategies continue to outperform: Credit LATAM High Yield (largest strategy, >$5 billion AUM) has generated 11% annualized net returns since inception, outperforming benchmark by ~360 bps; growth equity and venture flagship funds report net IRRs of ~13% and 17% respectively.
Robust Fundraising by Verticals and Platform Expansion
Credit raised >$925 million in the quarter (Solis contributed >$265 million); infrastructure raised >$545 million; GPMS raised ~ $265 million (including $139 million first close for the inaugural co-invest vehicle); SOF V commitments already in excess of $500 million with potential to reach ~$600 million.
PAX Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
PAX Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
May 07, 2026 | $12.73 | $11.87 | -6.82% |
Feb 03, 2026 | $14.57 | $13.91 | -4.48% |
Nov 05, 2025 | $14.50 | $14.67 | +1.20% |
Aug 01, 2025 | $13.32 | $12.74 | -4.37% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
FAQ
When does Patria Investments Ltd. (PAX) report earnings?
Patria Investments Ltd. (PAX) is schdueled to report earning on Jul 30, 2026, After Close (Confirmed).
What is Patria Investments Ltd. (PAX) earnings time?
Patria Investments Ltd. (PAX) earnings time is at Jul 30, 2026, After Close (Confirmed).
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is PAX EPS forecast?
PAX EPS forecast for the fiscal quarter 2026 (Q2) is 0.3.