Private equity firm Carlyle Group (NASDAQ: CG) will be reporting results this Friday before market open. Here’s what to expect.
Carlyle beat analysts’ revenue expectations by 8% last quarter, reporting revenues of $984 million, up 24.7% year on year. It was an exceptional quarter for the company, with a solid beat of analysts’ fee-related earnings estimates and an impressive beat of analysts’ revenue estimates.
Is Carlyle a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, analysts are expecting Carlyle’s revenue to grow 10.3% year on year to $987.3 million, slowing from the 15.2% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $1.02 per share.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Carlyle has missed Wall Street’s revenue estimates five times over the last two years.
Looking at Carlyle’s peers in the capital markets segment, some have already reported their Q3 results, giving us a hint as to what we can expect. Blackstone delivered year-on-year revenue growth of 36.7%, beating analysts’ expectations by 6.6%, and Artisan Partners reported revenues up 7.8%, falling short of estimates by 0.9%. Blackstone traded down 4.4% following the results while Artisan Partners was also down 1.3%.
Read our full analysis of Blackstone’s results here and Artisan Partners’s results here.
Debates around the economy’s health and the impact of potential tariffs and corporate tax cuts have caused much uncertainty in 2025. While some of the capital markets stocks have shown solid performance in this choppy environment, the group has generally underperformed, with share prices down 2.7% on average over the last month. Carlyle is down 9.7% during the same time and is heading into earnings with an average analyst price target of $69.25 (compared to the current share price of $56.60).
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