KKR & Co. Inc. Q4 Profit Declines

(RTTNews) - KKR & Co. Inc. (KKR) reported fourth-quarter after-tax distributable earnings of $822 million or $0.92 per share, down 41% year-over-year. Analysts on average had expected the company to earn $0.86 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

Fee related earnings was $559 million or $0.63 per share in the quarter, down 8% year-over-year.

Net income was $83.22 million, or $0.09 per share compared with $507.56 million, or $0.82 per share, a year ago.

Revenue fell 37.5% to $2.53 billion from $4.05 billion last year. Analysts on average had estimated $1.38 billion in revenue.

Assets Under Management was at $504 billion, up 7% year-over-year.

A dividend of $0.155 per share of common stock of KKR & Co. Inc. has been declared for the fourth quarter of 2022, which will be paid on March 7, 2023 to holders of record of common stock as of the close of business on February 17, 2023.

Beginning with the dividend to be announced with the results for the quarter ending March 31, 2023, the company plans to increase its regular annualized dividend per share of common stock from $0.62 to $0.66.

On February 3, 2023, KKR & Co. Inc. increased the repurchase program to $500 million.

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