Kohlberg Kravis Roberts 8-K
PositiveEarningsGuidance
Higher management fees and fee related performance revenues drove record fee related earnings; the Arctos acquisition expanded AUM.
Filed 2026-07-30 06:55 ET
- 2.02 Results of Operations
- 9.01 Financial Statements and Exhibits
Summary
Q2 2026 results. KKR reported record quarterly fee related earnings, total operating earnings and adjusted net income per share. AUM grew 16% Y/Y, while new capital raised reached $34B for the quarter; KKR said growth in management fees and fee related performance revenues primarily drove higher fee related earnings.
Key Figures
| Metric | Q2 2026 | Q2 2025 | Y/Y |
|---|---|---|---|
| Revenue | $5.73B | $5.09B | 12.5% |
| Net income attributable to KKR & Co. Inc. common stockholders (GAAP) | $660M | $472M | 39.7% |
| Adjusted net income (non-GAAP) | $1.49B | $1.06B | 40.4% |
| Diluted EPS (GAAP) | $0.70 | $0.50 | 40.0% |
| Adjusted net income per adjusted share (non-GAAP) | $1.63 | $1.18 | 38.1% |
| Fee related earnings (non-GAAP) | $1.21B | $887M | 36.9% |
| Total operating earnings (non-GAAP) | $1.54B | $1.19B | 28.9% |
| Assets under management | $796B | $686B | 16% |
| Fee paying assets under management | $638B | $556B | 15% |
- Fee related earnings growth primarily reflected higher management fees and fee related performance revenues. Insurance operating earnings were $288M, including ≈$40M from investment realizations; net investment income growth reflected portfolio growth from net inflows and higher average yields.
- New capital raised was $34B for the quarter; capital invested was $24B. AUM included the Arctos acquisition, which closed May 4 and brought $20B of AUM.
- Cash and investments were $13.9B and outstanding debt at par was $9.30B, for net cash and investments of $4.63B. From year-end 2025 through July 24, KKR used $352M for share repurchases and equity-award retirements, covering 3.9M shares at an average $90.87 per share; adjusted shares outstanding rose 2.5% from Q4 2025 to Q2 2026. KKR declared a $0.195-per-share common dividend, payable August 25 to holders of record August 10.
Guidance
KKR expects Strategic Holdings Operating Earnings to contribute more meaningfully to total operating earnings over time; no quantified outlook.
Investor Takeaways
- Watch whether fee related earnings growth and fee paying AUM growth continue in subsequent quarters.
- Future monetizations and capital deployment will indicate whether KKR can sustain the earnings and inflows highlighted this quarter.
The summary is written by an AI model reading the filing.
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