KKR Touts EPS Beat, More Than $3.6B In Q2 Revenue On Heels Of Buying Chase Corp
Portfolio Pulse from Lekha Gupta
KKR & Co Inc reported Q2 2023 revenues of $3.63 billion, significantly higher than $323.4 million a year ago. The company's after-tax adjusted distributable EPS was $0.73, down 23% Y/Y, but beat the consensus of $0.71. Asset management segment revenues and net investment income in the insurance segment also beat consensus. KKR declared a dividend per share of $0.165. In July, KKR acquired Chase Corporation for approximately $1.3 billion.
August 07, 2023 | 1:18 pm
News sentiment analysis
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POSITIVE IMPACT
Chase Corporation was acquired by KKR in July for approximately $1.3 billion. This could potentially impact the company's future performance and stock price.
The acquisition of Chase Corporation by KKR could potentially lead to changes in the company's operations and financial performance, which could impact its stock price.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 50
POSITIVE IMPACT
KKR's Q2 2023 revenues significantly exceeded the previous year's figures and beat consensus estimates. The company's EPS also beat consensus, despite being down Y/Y. The acquisition of Chase Corporation could potentially contribute to future growth.
KKR's strong Q2 2023 performance and the recent acquisition of Chase Corporation are likely to positively impact the company's stock in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100