EarningsQ2 2026 Earnings Report

Blackstone Group (BBN1) Q2 2026 Earnings Report

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Previous Report: Q1 2026

CH:BBN1 Q2 2026 EPS Results

Actual EPSCHF1.23

Consensus EPSCHF1.09

Beat/MissBeat by +CHF0.15

One Year Ago EPSCHF0.98

CH:BBN1 Q2 2026 Revenue Results

Actual RevenueCHF3.30B

Expected RevenueCHF2.78B

Beat/MissBeat by +CHF526.71M

YoY Revenue Growth+33.19%

Earnings Announcement Details

QuarterQ2 2026

Date07/23/2026

TimeBefore Open

Conference CallThursday, July 23, 2026

CH:BBN1 Upcoming Earnings

Blackstone Group's next earnings date is estimated for October 15, 2026, based on past reporting schedules.

Q2 2026 Earnings Call Audio

CH:BBN1 Q2 2026 Earnings Call

0:00 / 0:00

Q2 2026 Earnings Slide Deck

Q2 2026 Earnings Call Summary

Q2 2026

Earnings Call Date:Jul 23, 2026|

% Change Since:

Earnings Call Sentiment|Positive

The call highlighted broad, multi‑channel growth—double‑digit increases in distributable earnings, fee revenues and realizations; record inflows and clear leadership in AI/infrastructure and data centers supported by large new partnerships and product launches. Headwinds are concentrated but meaningful: near‑term realization timing risk, elevated redemptions in one wealth vehicle (BCRED), and some real estate base‑fee pressure. On balance the positive achievements, strong fundraising momentum, and expanding fee streams materially outweigh the cited challenges.

Company Guidance

Guidance flagged continued top‑line momentum into Q3 and 2027: management expects base management fee growth in Q3 similar to Q2 with a return to double‑digit base fee growth in 2027, a sequential deceleration in net realizations in Q3 followed by a robust Q4 and into 2027, and continued capital deployment into AI infrastructure. Current quarter and pipeline metrics underpinning that outlook include distributable earnings of $2.0B ($1.52/sh, +26% YoY), fee‑related earnings of $1.8B ($1.43/sh, +22% YoY), fee revenues of $3.0B (+22% YoY), fee‑related performance revenues of $793M (+68% YoY), transaction & advisory fees of $321M (record), net realizations of $414M, gross performance revenues of $731M, and net accrued performance revenue of $7.5B ($6/sh, +13% YoY, +7% seq). Scale and fundraising trends cited as drivers: AUM $1.35T (+11% YoY) with nearly $70B of Q2 inflows and >$260B LTM, data center platform value $185B (from $130B at start of year) with >3x leasing planned this year and potential to double in the coming years, infrastructure AUM $90B (+40% YoY), BXMA AUM $109B (+21% YoY) (plus $4.8B July 1 inflows), credit platform ~ $550B (+13% YoY) with $33B Q2 inflows (~50% of firm), insurance AUM $290B (+15% YoY), private wealth AUM $324B (+16% YoY, $8.6B sales in Q2), BREIT NAV $57B (+7% YoY, $1.2B raised Q2), BXP NAV >$25B (20% net annualized return), and BCREDG gross sales $1B (net outflows $1.2B).

Strong Earnings Growth

Distributable earnings rose 26% year‑over‑year to $2.0 billion ($1.52 per common share); fee related earnings grew 22% YoY to $1.8 billion and fee revenues increased 22% YoY to $3.0 billion.

Robust Inflows and AUM Expansion

Total inflows were nearly $70 billion in the quarter and over $260 billion for the last 12 months; assets under management increased 11% YoY to a record $1.35 trillion.

AI & Data Center Leadership Driving Performance

Large scale AI/infrastructure investments drove outsized performance: data‑center platform value grew to $185 billion from $130 billion at the start of the year (~42% increase YTD), and the firm expects to lease over 3x more capacity this year than any prior year.

Strategic AI Partnerships and New Vehicles

Launched multiple AI‑focused initiatives including a Neo Cloud with Google (up to $5 billion initial investment), an Anthropic enterprise partnership, a $35 billion Broadcom financing platform, and the $2 billion BXDC REIT (largest blind‑pool REIT IPO).

Record Transaction & Performance Fee Momentum

Transaction and advisory fees nearly doubled to a record $321 million (up 52% sequentially); fee related performance revenues rose 68% YoY to $793 million, with nearly threefold increases for BXP and BREIT contributions.

Fundraising Strength Across Channels

Institutional infrastructure AUM up 40% YoY to $90 billion; BXMA reached $109 billion (up 21% YoY) with 25 consecutive positive quarters; insurance AUM $290 billion (up 15% YoY); private wealth AUM $324 billion (up 16% YoY).

Realized and Mark‑to‑Market Gains

Net realizations rose 27% YoY to $414 million; gross performance revenues increased 32% YoY to $731 million; net accrued performance revenue (embedded value) reached $7.5 billion ($6.00 per share), up 13% YoY and 7% sequentially.

Strong Strategy‑Level Returns

Infrastructure appreciated 7.2% in the quarter and 29% LTM; corporate private equity +3.7% Q2 / +14% LTM; latest vintages showed higher appreciation (global flagship +6.1% Q2, Asia +8.8% Q2, energy fund +23.6% Q2); private equity portfolio companies delivered 11% revenue growth YoY.

CH:BBN1 Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change
Oct 15, 2026	2026 (Q3)	1.10 / -	1.234	―
Jul 23, 2026	2026 (Q2)	1.09 / 1.23	0.982	25.62% (+0.25)
Apr 23, 2026	2026 (Q1)	1.09 / 1.10	0.885	24.77% (+0.22)
Jan 29, 2026	2025 (Q4)	1.25 / 1.42	1.372	3.55% (+0.05)
Oct 23, 2025	2025 (Q3)	1.00 / 1.23	0.82	50.50% (+0.41)
Jul 24, 2025	2025 (Q2)	0.89 / 0.98	0.779	26.04% (+0.20)
Apr 17, 2025	2025 (Q1)	0.85 / 0.88	0.796	11.22% (+0.09)
Jan 30, 2025	2024 (Q4)	1.20 / 1.37	0.901	52.25% (+0.47)
Oct 17, 2024	2024 (Q3)	0.74 / 0.82	0.763	7.45% (+0.06)
Jul 18, 2024	2024 (Q2)	0.80 / 0.78	0.755	3.23% (+0.02)

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