Apollo Global misses Q3 revenue estimates, declares dividend

Overview

• Alternative asset manager's Q3 revenue missed analyst expectations

• Adjusted EPS for Q3 missed analyst expectations

• Company declared quarterly dividend of $0.5625 per share

Outlook

• Company expects robust close to 2026 and strong setup for 2027

• Apollo sees momentum across business lines heading into year-end

Result Drivers

• ASSET ORIGINATION - Co said record asset origination and client inflows contributed to results, per CEO Marc Rowan

• BUSINESS MOMENTUM - Co cited record pipelines and business momentum as supporting earnings power, per CEO Marc Rowan

Company press release:

Key Details

Analyst Coverage

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 17 "strong buy" or "buy", 7 "hold" and no "sell" or "strong sell"

• The average consensus recommendation for the investment management & fund operators peer group is "buy"

• Wall Street's median 12-month price target for Apollo Global Management, Inc. is $147.00, about 23.1% above its November 2 closing price of $119.46

• The stock recently traded at 12 times the next 12-month earnings vs. a P/E of 13 three months ago

Reuters Recommended Reads

• Nov 2 - Equitable Holdings Q3 adjusted EPS jumps 44%, beats estimates

• Nov 2 - Voya Financial Q3 adjusted EPS beats estimates; boosts dividend, buyback

• Nov 2 - Corebridge Financial Q3 net income surges on realized gains

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)