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Apollo Global Management LLC (APO)
NYSE:APO
Earnings Data
Report Date
Apr 30, 2026Before Open (Confirmed)
Period Ending
2026 (Q1)Consensus EPS Forecast
2.14Last Year’s EPS
1.82Same Quarter Last Year
Strong Buy
Based on 11 Analysts Ratings
Earnings Call Summary
Earnings Call Sentiment|Positive
The call highlights robust, broad-based growth across origination, fee generation, AUM, and capital formation with multiple record metrics (FRE, inflows, origination). Management provided constructive 2026 guidance (20%+ FRE growth; 10% SRE growth) and emphasized disciplined positioning (low software exposure, defensive Athene liquidity, principal mindset). Headwinds include sector-specific volatility (software), non-traded BDC market stress, elevated near-term expenses from strategic investments and acquisitions, and inherent unpredictability of performance fees. On balance, the positive operational and financial momentum, clear multi-year targets, and strong inflows materially outweigh the identified risks and near-term challenges.Company Guidance
Record Earnings and Adjusted Net Income Growth
Full-year adjusted net income of $5.2 billion, up 14% year over year; record combined fee-related earnings (FRE) and spread-related earnings (SRE) of $5.9 billion for the year.
Strong Fee-Related Earnings (FRE) Expansion
FRE of $2.5 billion for the year, up 23% year over year; FRE margin ~57% stable year over year; management expects 20%+ FRE growth in 2026.
Robust Spread-Related Earnings (SRE) and Athene Performance
Full-year SRE of $3.4 billion (normalized +9% year over year); Athene net invested assets up 18% to $292 billion; Q4 blended net spread ex-notables ~120 bps (vs 121 bps prior quarter); Athene expects ~10% SRE growth in 2026 assuming 11% alts return.
Exceptional Origination Volume
Originations exceeded $305 billion for 2025 (Marc: crossed the $300B mark), up nearly 40% year over year; $282 billion of origination was debt, ~80% investment grade and ~20% sub-investment grade.
Record Capital Formation and Inflows
Record firm-wide inflows of $228 billion for the year, including $42 billion in Q4; organic inflows of $182 billion for the year; Asset Management organic inflows $100 billion (75% to credit strategies) and Athene inflows $83 billion.
AUM and Fee-Generating AUM Expansion
Total AUM increased 25% year over year to $938 billion; fee-generating AUM increased 25% to $79 billion (Martin Kelly comment).
Strong Product and Strategy Performance
ADS (largest private markets direct lending vehicle) exceeds $25 billion with ~8% return for the quarter/year; AAA hybrid strategy exceeds ~$25 billion with 12% inception-to-date return, 43 of 44 positive quarters and 23 consecutive positive quarters; Fund XIII delivered 22% net IRR (Fund X context).
Capital Return and Shareholder Actions
Returned approximately $1.5 billion to shareholders via dividends and repurchases in 2025; announced a 10% increase in annual dividend from $2.04 to $2.25 beginning 2026.
Fee Diversification and Transaction Activity
Capital solutions fees reached $226 million in Q4 and exceeded $800 million for the full year; ~430 transactions in 2025 with ~60% credit-driven activity; fee-related performance fees grew 28% year over year.
Clear 2026 Guidance and Multi-Year Targets
Management reaffirms medium-term targets: 20%+ FRE growth in 2026, 10% SRE growth in 2026 and average through 2029 (assuming execution), and an expected multiyear tax rate of ~20%.
APO 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
APO Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
Feb 09, 2026 | $133.03 | $133.95 | +0.69% |
Nov 04, 2025 | $123.95 | $130.51 | +5.29% |
Aug 05, 2025 | $141.50 | $145.01 | +2.48% |
May 02, 2025 | $136.90 | $134.40 | -1.83% |
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 Apollo Global Management LLC (APO) report earnings?
Apollo Global Management LLC (APO) is schdueled to report earning on Apr 30, 2026, Before Open (Confirmed).
What is Apollo Global Management LLC (APO) earnings time?
Apollo Global Management LLC (APO) earnings time is at Apr 30, 2026, Before Open (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 APO EPS forecast?
APO EPS forecast for the fiscal quarter 2026 (Q1) is 2.14.