NYSE$OWL

Blue Owl Capital Inc · Q3 2021 earnings

Q3 2021 earnings · · Investor relations

Briefing

Blue Owl's financial results for Q3 2021 reflected the strength of permanent capital and growth in AUM and earnings.

Blue Owl Capital Inc. reported a GAAP net loss of $53.3 million, or $0.16 per share. Distributable Earnings were $142.8 million, or $0.11 per Adjusted Share, and Fee-Related Earnings were $141.9 million, or $0.11 per Adjusted Share. Assets under management exceeded $70 billion, an increase of 13% from the prior quarter.

  • Assets under management (AUM) increased 13% since June 30, 2021 and 32% since December 31, 2020, reaching $70.5 billion.
  • Fee Paying Assets Under Management (FPAUM) increased 10% since June 30, 2021 and 22% since December 31, 2020, reaching $47.0 billion.
  • Distributable Earnings (DE) were $142.8 million, or $0.11 per Adjusted Share.
  • Fee-Related Earnings (FRE) were $141.9 million, or $0.11 per Adjusted Share.

Headline financials

Total Revenue

$248M

No prior period
EPS (adj)

$0.11

No prior period
Assets Under Management

$70.5B

No prior period
Capital Expenditures

-$2.04M

No prior period
Free Cash Flow

-$55.4M

No prior period
Net Income

-$53.3M

No prior period
Operating Income

-$74.6M

No prior period
Gross Profit

$151M

No prior period
Cash & Equivalents

$139M

No prior period
Total Assets

$7.45B

No prior period
Stock-Based Comp

$15.7M

No prior period

Revenue & EPS history

Blue Owl Capital · Revenue · Quarterly

$248M

Q3 2021
Beat estimate in 8 of 11 quarters(73%)
ActualEstimate

Forward guidance

Blue Owl announced the acquisition of Oak Street, which is expected to close in Q4 2021 and be accretive to Distributable Earnings per share in 2022 and beyond.

Historical earnings impact

How earnings announcements have historically affected this stock's price.

Avg. return before/after earnings

Based on 20 quarterly earnings reports · overlaid with Q3 2021

Historical avgQ3 2021

+0.6%

Avg return

Earnings day

+1.5%

Avg return

5 days after

-0.7%

Avg return

30 days after

38%

8 / 21 earnings

Positive

+17.6%

Q3 2022

Best reaction

-14.7%

Q2 2024

Worst reaction

Earnings price reactions
QuarterReport dateReaction (Day 0)+5 days+30 days
Q1 2026+10.7%+21.1%+15.8%
Q4 2025-3.6%+7.5%-18.0%
Q3 2025-4.2%-5.4%-9.4%
Q1 2025-3.3%-3.7%+0.8%
Q4 2024-0.7%-5.6%-22.2%
Q3 2024-7.1%-7.7%+2.7%
Q2 2024-14.7%-14.1%-7.5%
Q1 2024-3.8%-2.8%-3.5%
Q4 2023+7.9%+10.0%+7.4%
Q3 2023+5.7%+3.4%+8.4%
Q2 2023+0.1%-0.4%-3.0%
Q1 2023-3.3%-4.8%-2.7%
Q4 2022+4.1%+5.5%-21.1%
Q3 2022+17.6%+20.1%+15.9%
Q2 2022+7.3%+8.4%-5.8%
Q1 2022-2.2%-12.3%-0.8%
Q4 2021-7.2%-7.3%-3.2%
Q3 2021-6.7%-7.1%-11.1%
Q2 2021-0.5%+3.9%+24.4%
Q1 2021+15.9%+24.8%+21.5%
Q4 2020-0.2%-1.8%-2.7%
Q2 2020
Q1 2020

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