KKR reported strong earnings and significant growth in management fees and capital raising activities. While the company faces challenges with the Asia II fund underperformance and related clawback, its overall financial health and strategic initiatives, including robust private wealth performance and credit platform expansion, contribute to a positive outlook.

Company Guidance

During KKR's Third Quarter 2025 Earnings Conference Call, the company provided a strong outlook with several key financial metrics. The firm reported fee-related earnings of $1.15 per share, total operating earnings of $1.55 per share, and adjusted net income of $1.41 per share, marking some of the highest figures in its history. Management fees grew by 19% year-over-year to $1.1 billion, driven by robust fundraising and capital deployment. Capital markets fees reached $276 million, while fee-related performance revenues increased by nearly 30% year-over-year to $73 million. The company also raised $43 billion in capital, marking its second-highest fundraising quarter. KKR's insurance segment operating earnings stood at $305 million, with strategic holdings contributing $58 million. Investing earnings within the Asset Management segment realized $935 million, emphasizing the strength and maturity of its portfolio. Looking forward, KKR is optimistic about meeting its 2026 guidance targets, citing strong momentum in fundraising and monetization activity.

Strong Financial Performance

Fee-related earnings of $1.15 per share, total operating earnings of $1.55 per share, and adjusted net income of $1.41 per share. All figures are among the highest reported in KKR's history.

Management Fee Growth

Management fees were $1.1 billion, up 19% year-over-year, driven by fundraising success across asset classes and capital deployment. Excluding catch-up fees, management fee growth was 16% year-over-year.

Record Capital Raising

In Q3, KKR raised $43 billion, marking the second highest fundraising quarter in its history. The credit platform raised $55 billion year-to-date, on track for a record year.

Investment Performance and Pipeline

Realized performance and investment income totaled $935 million. KKR has a record $126 billion of dry powder and roughly $17 billion of embedded gains, positioning it well for future opportunities.

Positive Sentiment in Private Wealth

KKR's K-Series suite of products raised $4.1 billion in the third quarter, up 20% from the previous quarter and 80% from a year ago.

KKR & Co (KKR) Earnings, Revenues Date & History

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KKR Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Feb 10, 2026	2025 (Q4)	1.39 / -	1.32	―	―	―
Nov 07, 2025	2025 (Q3)	1.30 / 1.41	1.38	2.17% (+0.03)
Jul 31, 2025	2025 (Q2)	1.14 / 1.18	1.09	8.26% (+0.09)
May 01, 2025	2025 (Q1)	1.13 / 1.15	0.97	18.56% (+0.18)
Feb 04, 2025	2024 (Q4)	1.28 / 1.32	1	32.00% (+0.32)
Oct 24, 2024	2024 (Q3)	1.20 / 1.38	0.88	56.82% (+0.50)	―
Jul 31, 2024	2024 (Q2)	1.06 / 1.09	0.73	49.32% (+0.36)	―
May 01, 2024	2024 (Q1)	0.95 / 0.97	0.81	19.75% (+0.16)	―
Feb 06, 2024	2023 (Q4)	0.92 / 1.00	0.92	8.70% (+0.08)	―
Nov 07, 2023	2023 (Q3)	0.83 / 0.88	0.93	-5.38% (-0.05)

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

KKR Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Nov 07, 2025	$119.31	$121.32	+1.68%
Jul 31, 2025	$150.23	$146.39	-2.56%
May 01, 2025	$113.94	$114.16	+0.19%
Feb 04, 2025	$162.55	$148.68	-8.53%

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.