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KKR & Co Inc (NYSE:KKR) reported revenues of $3.63 billion for the second quarter (Q2) of 2023.
That's significantly higher than $323.4 million a year ago.
The private equity company reported after-tax adjusted distributable EPS of $0.73, down 23% Y/Y, which beat the consensus of $0.71.
See Also: Here's How Much You Would Have Made Owning KKR & Co Stock In The Last 5 Years
Asset management segment revenues of $1.23 billion beat the consensus of $1.16 billion.
In the insurance segment, net investment income rose to $1.28 billion from $964.4 million in the prior year, reflecting increased liquidity balances and relatively flat yields.
Fee-Related Earnings rose 31% Y/Y to $602 million in the quarter.
Assets under management rose 6% Y/Y to $519 billion, with organic new capital of $13 billion raised in Q2 2023.
Book value per adjusted shares rose to $28.17 from $27.12 in the quarter.
Dividend: KKR declared a dividend per share of $0.165, payable on Aug. 31, to shareholders of record as on Aug. 17.
In a joint statement, co-CEOs Joseph Bae and Scott Nuttall touted new product launches "tailored to the Private Wealth channel as well as strategic activity at Global Atlantic."
In July, KKR inked a deal to acquire Chase Corporation (AMEX:CCF) for approximately $1.3 billion, including the assumption of debt.
Price Action: KKR shares are trading higher by 1.15% at $60.88 pre-market on the last check Monday.
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