Akcie Apollo Global Management za poslední měsíc přidaly asi 2 % po zveřejnění výsledků, i když upravený zisk na akcii za 2Q 2026 činil 2,11 USD a zklamal odhady. Tržby vzrostly o 23 % meziročně na 1,34 mld. USD.
A month has gone by since the last earnings report for Apollo Global Management Inc. (APO - Free Report) . Shares have added about 2% in that time frame, outperforming the S&P 500.
But investors have to be wondering, will the recent positive trend continue leading up to its next earnings release, or is Apollo Global Management due for a pullback? Well, first let's take a quick look at the latest earnings report in order to get a better handle on the recent drivers for Apollo Global Management Inc. before we dive into how investors and analysts have reacted as of late.
Apollo Global Q2 Earnings Miss Estimates, Expenses Increase Y/YApollo Global Management, Inc.’s second-quarter 2026 adjusted net income per share of $2.11 missed the Zacks Consensus Estimate of $2.18. The metric increased from the year-ago adjusted net income of $1.92.
Results were adversely impacted by higher expenses. However, higher assets under management balances acted as a tailwind in the quarter.
The results include certain items. After considering those, net income attributable to Apollo Global (GAAP basis) was $1.34 billion, which rose from $605 million in the prior-year quarter.
Quarterly Revenues & Expenses RiseTotal segment revenues were $1.34 billion, surpassing the Zacks Consensus Estimate of $1.31 billion. The metric increased 23% year over year from $1.10 billion.
Total expenses for combined segments increased 19% year over year to $558 million in the reported quarter.
AUM Balance RisesFee-generating AUM increased 34% year over year to $858 billion. The rise was driven by strong capital formation across institutional and global wealth channels, $65 billion from Athora’s acquisition of Pension Insurance Corporation, and robust Retirement Services inflows, partially offset by outflows and realization activity.
As of June 30, 2026, total AUM was $1.05 trillion, up 25% year over year. Total AUM benefited from $220 billion of inflows from Asset Management, $78 billion of gross inflows from Retirement Services, and mark-to-market appreciation. This was partially offset by $71 billion of outflows and $32 billion of realization activity.
Capital & Liquidity PositionAs of June 30, 2026, Apollo Global had $3.41 billion in cash and cash equivalents and $5.76 billion of debt.
Capital Distribution UpdateThe company announced a quarterly cash dividend of 56.25 cents per share with its earnings release. The dividend was paid on Aug. 31, 2026, to shareholders of record as of Aug. 19.
Apollo Global repurchased $102 million of common stock in the second quarter, including $73 million to substantially offset dilution and $29 million of opportunistic share repurchases. Over the last 12 months, the company repurchased $1.6 billion of common stock and distributed more than $1 billion in common stock dividends.
How Have Estimates Been Moving Since Then?In the past month, investors have witnessed a downward trend in fresh estimates.
VGM ScoresCurrently, Apollo Global Management has a average Growth Score of C, though it is lagging a lot on the Momentum Score front with an F. However, the stock has a grade of C on the value side, putting it in the middle 20% for value investors.
Overall, the stock has an aggregate VGM Score of C. If you aren't focused on one strategy, this score is the one you should be interested in.
OutlookEstimates have been broadly trending downward for the stock, and the magnitude of these revisions indicates a downward shift. Interestingly, Apollo Global Management has a Zacks Rank #3 (Hold). We expect an in-line return from the stock in the next few months.
Performance of an Industry PlayerApollo Global Management belongs to the Zacks Financial - Investment Management industry. Another stock from the same industry, SEI Investments (SEIC - Free Report) , has gained 4.2% over the past month. More than a month has passed since the company reported results for the quarter ended June 2026.
SEI reported revenues of $641.62 million in the last reported quarter, representing a year-over-year change of +14.7%. EPS of $1.66 for the same period compares with $1.78 a year ago.
For the current quarter, SEI is expected to post earnings of $1.58 per share, indicating a change of +21.5% from the year-ago quarter. The Zacks Consensus Estimate remained unchanged over the last 30 days.
The overall direction and magnitude of estimate revisions translate into a Zacks Rank #3 (Hold) for SEI. Also, the stock has a VGM Score of D.
Key Takeaways APO's total AUM reached $1.05 trillion, up 25% year over year, reflecting robust capital formation and growth.Fee-generating AUM rose 34% to $858 billion, supporting recurring fee income and growth across the platform.Apollo's management plans to scale private equity, targeting total AUM of nearly $1.5 trillion by 2029. Apollo Global Management, Inc. (APO - Free Report) continues to expand its alternative investment platform, supported by strong organic asset under management (AUM) growth. The company’s AUM witnessed a compound annual growth rate (CAGR) of 19.6% from 2022 to 2025, with the growth trend continuing in the first half of 2026. Total AUM reached $1.05 trillion as of June 30, 2026, up 25% year over year, reflecting robust capital formation and continued growth in Asset Management and Retirement Services.
AUM Growth Trend
Image Source: Apollo Global Management, Inc.
Apollo’s ability to consistently attract capital remains a key driver of its AUM expansion. The company generated $298 billion of gross inflows over the last 12 months, including $220 billion from Asset Management and $78 billion from Retirement Services. Strong fundraising across institutional and global wealth channels, along with robust Retirement Services inflows, should continue to support growth across the platform.
As of June 30, 2026, fee-generating AUM increased 34% year over year to $858 billion, supporting Apollo's ability to generate recurring fee income. The increase was driven by strong capital formation across institutional and global wealth channels, continued fundraising across credit and equity strategies, and growth in Retirement Services.
Strategic acquisitions further strengthened Apollo’s long-term AUM growth prospects. In February 2026, Apollo entered into a strategic partnership with Schroders to develop next-generation wealth and retirement investment solutions for institutional and wealth clients across the U.K. and the U.S., creating opportunities to expand client reach and attract incremental assets. In September 2025, Apollo acquired Bridge Investment Group Holdings Inc. to broaden its real estate investment capabilities and enhance its ability to attract and retain institutional and wealth-management capital, supporting sustained AUM growth over the long haul. Though recent private-market concerns, including valuation opacity, liquidity constraints, and slower exit activity, could weigh on investor sentiment and near-term AUM growth, Apollo’s strong capital formation and expanding capabilities should support long-term AUM expansion.
Continued growth in fee-generating and perpetual capital AUM should strengthen recurring fee income and enhance earnings stability. Further, management’s plans to scale its private equity business could help total AUM approach $1.5 trillion by 2029, making sustained AUM growth a key driver of Apollo’s earnings trajectory. For 2026 and 2027, APO’s earnings are projected to rise 5.13% and 22.22%, respectively.
Earnings Estimate
Image Source: Zacks Investment Research
AUM Performance of APO’s PeersAmeriprise Financial (AMP - Free Report) has been witnessing solid growth in its AUM/assets under administration (AUA) balance. Over the five years (2020-2025), total AUM/AUA recorded a CAGR of 9%, supported by strong advisor recruitment, record advisor productivity, rising adoption of fee-based solutions and favorable asset flows. The momentum continued in the first half of 2026, with AUM/AUA reaching a record $1.81 trillion as of June 30, 2026.
Ameriprise’s robust AUM/AUA base supports long-term earnings growth by expanding its pool of fee-generating client assets across its diversified wealth management and asset management businesses.
Similarly, KKR & Co. (KKR - Free Report) has been witnessing strong growth in its AUM balance, driven primarily by robust fundraising and the continued expansion of its investment platform. Over the five years (2020-2025), total AUM recorded a CAGR of 24.2%, with the growth momentum continuing in the first half of 2026. As of June 30, 2026, total AUM was $796.5 billion, while fee-paying AUM reached $638.4 billion.
KKR’s expanding AUM and fee-paying AUM base supports long-term earnings growth by increasing the pool of capital that generates recurring management fees across its private equity, credit, real assets and other investment strategies.
APO Price Performance & Zacks RankThe company’s shares have gained 22.9% in the past six months compared with the industry’s 13.2% rise.
Price Performance
Image Source: Zacks Investment Research
Currently, APO carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
ONEOK kupuje permijská aktiva Brazos Midstream za 4,425 miliardy USD. Financování zajistí 9miliardová minoritní investice od Apollo a firma plánuje splatit asi 5 miliard USD dluhu.
Acquisition Increases Momentum Toward the High End of ONEOK's Mid- to High-
Single-Digit Adjusted EBITDA Growth Target Over the Next Five to Seven Years
Expected to Be Immediately Accretive to Earnings and Free Cash Flow Per Share
$9 Billion Minority Equity Investment from Apollo
Funds Acquisition and $5 Billion Debt Extinguishment
Accelerates Deleveraging to 3.25x Debt-to-EBITDA with
No Issuance of Common Equity
Accelerates ONEOK's Flexibility for Capital Allocation Including Organic Growth,
Potential Dividend Increases and Share Buybacks
, /PRNewswire/ -- ONEOK, Inc. (NYSE: OKE) today announced that it has executed a definitive agreement to acquire Brazos Midstream's Permian Midland Basin natural gas gathering and processing assets for total cash consideration of $4.425 billion. The acquisition will be funded through a $9 billion nonvoting minority equity investment from funds and affiliates managed by Apollo (NYSE: APO) (Apollo). ONEOK intends to use $5 billion of proceeds from the equity investment to reduce ONEOK's existing indebtedness.
"This transaction demonstrates ONEOK's strategy of intentionally expanding and extending our integrated energy infrastructure," said Pierce H. Norton II, ONEOK president and CEO. "These assets add a premier Permian Midland Basin platform supported by long-term contracts and attractive growth opportunities.
"The acquisition expands our scale in the Permian Midland Basin, advances our integrated wellhead-to-water strategy and strengthens connectivity across our natural gas and NGL value chain, positioning ONEOK to capture significant volume growth in one of the most economic and rapidly growing resource plays," added Norton. "The combination of this acquisition with the minority equity investment demonstrates our commitment to creating shareholder value while accelerating our deleveraging to 3.25 times debt-to-EBITDA, further enhancing our balance sheet."
"ONEOK has built one of the largest and most diversified midstream platforms in the country, providing essential services and infrastructure to help meet rapidly expanding domestic and international energy demand," said Apollo Partner Jamshid Ehsani. "This transaction reflects Apollo's ability to deliver flexible, high-grade capital solutions at scale, structured around ONEOK's long-term strategic objectives."
STRATEGIC OVERVIEW
The acquisition will be funded through a $9 billion nonvoting minority equity investment in ONEOK's existing business. The investment carries an internal rate of return (IRR) that is capped at 7.0% for the first nine years of the investment, which is lower than ONEOK's cost of publicly traded equity. Distributions in excess of the capped IRR will reduce the minority equity capital balance over time, which increases the economic value attributable to ONEOK common shareholders.
In addition to funding the acquisition, ONEOK intends to extinguish approximately $5 billion of existing indebtedness, immediately reducing expected pro forma 2027 leverage to approximately 3.25 times debt-to-EBITDA. The debt extinguishment plan will include repayments, make-whole calls and a tender offer for senior notes (most of the targeted senior notes are currently trading below par).
These steps will accelerate ONEOK's deleveraging timeline and will more than achieve the company's previous target leverage without issuing common equity while supporting a growing backlog of organic growth opportunities, particularly in the Permian Basin, as well as other business segments.
The acquisition increases momentum toward the high end of ONEOK's mid- to high-single-digit adjusted EBITDA growth target over the next five to seven years and accelerates ONEOK's flexibility to increase capital returns to shareholders, including through potential dividend increases and share buybacks.
PREMIER PERMIAN MIDLAND BASIN PLATFORM
The transaction implies a multiple of approximately 7.5 times estimated 2027 EBITDA, inclusive of approximately $80 million of full-year synergies, and approximately 6.0 times estimated 2028 EBITDA, reflecting the expected significant growth of the Brazos platform, as well as additional commercial and operational synergies expected to be realized through further integration with ONEOK's existing Permian Basin assets. The combined ONEOK and Brazos systems are also expected to generate additional capital efficiencies as capacity is optimized across the platform. The acquisition is expected to be immediately accretive to earnings and free cash flow per share, supported by substantial contracted growth across Brazos' dedicated acreage.
The acquisition strengthens ONEOK's integrated Permian-to-Gulf Coast strategy by:
Expanding scale in the rapidly growing Permian Midland Basin. Adding long-term, fee-based contracted growth with leading Permian producers. Enhancing connectivity across the natural gas and NGL value chain. Optimizing commercial and capital savings opportunities. Delivering immediate accretion to earnings and free cash flow per share. The acquired Brazos Midland assets create a scaled, integrated Permian Midland Basin platform that strengthens ONEOK's position in one of the most active and economic producing regions in North America. Supported by approximately 600,000 dedicated acres under long-term fixed-fee contracts with a weighted average remaining term of more than 12 years, the system provides substantial visibility to future volume growth and is currently supported by 14 active drilling rigs from leading Permian producers including ExxonMobil, Diamondback Energy and Double Eagle.
Following completion of the Cassidy II processing plant expected in the third quarter of 2027, the Brazos Midland system will include approximately 700 miles of gathering infrastructure and 1.2 billion cubic feet per day (Bcf/d) of processing capacity across seven core Permian Midland Basin counties. Through the acquisition, ONEOK also obtains a Permian Midland Basin-wide area of mutual interest (AMI) with a key private producer, creating additional opportunities to capture future growth.
The Brazos Midland assets are highly complementary to ONEOK's existing Permian Midland Basin natural gas gathering and processing, NGL transportation and crude oil infrastructure. The acquisition more than doubles ONEOK's Midland Basin processing capacity to approximately 2.3 Bcf/d, including plants currently under construction, and establishes one of the Permian Midland Basin's largest integrated natural gas gathering and processing platforms.
The combination expands ONEOK's ability to capture volume growth across the value chain while optimizing capital deployment and utilizing existing downstream infrastructure, including the company's West Texas NGL Pipeline and soon-to-be-completed Medford NGL fractionation facility. By integrating commercial, operational and capital activities across the combined footprint, ONEOK expects to achieve significant recurring synergies over the long term, further reducing the effective acquisition multiple over time to be in line with ONEOK's historical organic build multiples.
MINORITY EQUITY INVESTMENT
Further strengthening its financial position, ONEOK has entered into an agreement with Apollo and affiliates for a $9 billion minority equity investment.
Minority equity investment highlights:
Return capped at a 7.0% IRR for the first nine years of the investment with value creation above the capped return rate accruing to ONEOK common shareholders. Investor's capital account balance is expected to substantially decline over time through cash distributions that vary with cash flow from operations. Income attributable to the noncontrolling interest (NCI) is expected to tie closely to the 7.0% capped IRR multiplied by the investor's then outstanding capital account balance. No liquidation preference and is structurally subordinate to all existing ONEOK senior debt. Provides ONEOK the option to acquire any remaining minority interest beginning eight years after closing or earlier if investor capital account balance declines to $200 million prior to that date. No Hypothetical Liquidation at Book Value (HLBV) accounting treatment necessary for this structure. Under the terms of the agreement, Apollo will invest $9 billion in exchange for a Class B interest in a newly formed holding company, ONEOK Holdings, L.L.C. (HoldCo), which is structurally subordinate to the company's debt. The Class B interest is expected to receive 15% of quarterly cash flow from ONEOK, L.L.C. (OpCo) operations. Because those distributions are expected to exceed the Class B capped return of 7.0% IRR, the Class B capital account balance is expected to substantially decline over time. There are no penalties if the quarterly distribution is below the capped return. ONEOK has the option each quarter to accelerate the Class B investor capital paydown by electing to distribute up to 20% of quarterly cash flow from OpCo's operations to the Class B interest, subject to certain conditions. The Class B interest carries limited consent rights related to HoldCo, has no board representation or liquidation preference, and is subordinate to all ONEOK senior debt. All distributions paid to HoldCo are at the discretion of the OpCo board.
The total minority equity investor return is capped at a 7.0% IRR for the first nine years of the investment. The target IRR on the then-current capital account balance steps to 7.35% in year 10 and increases to a final cap of 7.85% in year 15. All value creation above the capped IRR, including growth from the Brazos Midland acquisition, ONEOK's existing portfolio and future initiatives, accrues to ONEOK common shareholders.
Beginning on the eighth anniversary of closing, or earlier if the Class B capital account balance reaches $200 million prior to that date, ONEOK may acquire the remaining Class B interest at a price reflecting the same 7.0% IRR, which is fixed until the ninth anniversary of closing. By that time, the remaining balance is expected to be substantially below the initial investment. In years 10 through 15, the Class B interest may be acquired at a value to achieve the then current target IRR applied to the remaining Class B capital account balance at that time.
The investment has been reviewed with ONEOK's credit rating agencies, all of which consider the transaction as credit-enhancing, and ONEOK expects to receive full equity credit. Under Generally Accepted Accounting Principles (GAAP), the investment will be reported on the balance sheet as a noncontrolling interest (NCI) within permanent equity. On the income statement, approximately 7.0% (1.75% on a quarterly basis) of the investment's remaining capital balance will be subtracted from net income to arrive at net income attributed to ONEOK. The remainder of the Class B payment above NCI will reduce capital balance quarterly and the next quarter's income available for common shareholders will increase in an amount approximately equal to the previous quarter's reduction in capital account multiplied by the capped return divided by four and adjusted for the effective tax rate.
TRANSACTION TIMING
The Brazos Midland acquisition is expected to close in the fourth quarter of 2026 and has been unanimously approved by ONEOK's Board of Directors. The closing of the transaction is subject to customary closing conditions, including Hart-Scott-Rodino Act clearance.
The minority equity investment has been unanimously approved by ONEOK's Board of Directors and is expected to close in the first half of September, subject to customary closing conditions.
As part of these strategic transactions, ONEOK intends to extinguish $5 billion of outstanding debt, including commencing a cash tender offer for certain of its outstanding debt securities. In addition, ONEOK will repay, at or shortly following closing of the minority equity investment, its $1.2 billion term loan and will exercise make-whole calls on certain series of senior notes.
This press release shall not constitute an offer to sell or a solicitation of an offer to buy the securities described above, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such state or jurisdiction.
CONFERENCE CALL INFORMATION
Members of ONEOK's management team will participate in a conference call at 9 a.m. Eastern (8 a.m. Central) on Aug. 31, 2026. The call will also be webcast.
To participate in the conference call, dial 800-330-6710, confirmation code: 8307680, or log on to the webcast at www.oneok.com.
If you are unable to participate in the conference call or webcast, a recording will be available at www.oneok.com for one year.
Barclays served as sole financial advisor to ONEOK on the Brazos Midland acquisition and lead financial advisor to ONEOK on the minority equity investment. Lazard also served as financial advisor to ONEOK on the minority equity investment.
Latham & Watkins LLP served as legal advisor to ONEOK on the acquisition and minority equity investment.
RBC Capital Markets served as sole financial advisor and Milbank LLP served as legal counsel to Apollo.
Akin Gump Strauss Hauer & Feld LLP served as legal advisor to Brazos Midstream.
This news release references certain non-GAAP financial measures, including forward-looking transaction-related adjusted earnings before interest, taxes, depreciation and amortization (adjusted EBITDA) multiples and targets, and free cash flow. These measures may not be comparable to similarly titled measures of other companies, are not measurements of financial performance under GAAP, and should not be considered alternatives to amounts presented in accordance with GAAP. Because these measures are provided on a forward-looking basis, ONEOK is unable to present a quantitative reconciliation to the most directly comparable forward-looking GAAP measures without unreasonable effort.
ABOUT ONEOK:
At ONEOK (NYSE: OKE), we deliver energy products and services vital to an advancing world. We are a leading midstream operator that provides gathering, processing, fractionation, transportation, storage and marine export services. Through our approximately 60,000-mile pipeline network, we transport the natural gas, natural gas liquids (NGLs), refined products and crude oil that help meet domestic and international energy demand, contribute to energy security and provide safe, reliable and responsible energy solutions needed today and into the future. As one of the largest integrated energy infrastructure companies in North America, ONEOK is delivering energy that makes a difference in the lives of people in the U.S. and around the world.
ONEOK is an S&P 500 company headquartered in Tulsa, Oklahoma.
For information about ONEOK, visit www.oneok.com. For the latest news, visit the ONEOK newsroom or find us on LinkedIn, Facebook, X and Instagram.
ABOUT APOLLO:
Apollo is a high-growth, global alternative asset manager. In our asset management business, we seek to provide our clients excess return at every point along the risk-reward spectrum from investment grade credit to private equity. For more than three decades, our investing expertise across our fully integrated platform has served the financial return needs of our clients and provided businesses with innovative capital solutions for growth. Through Athene, our retirement services business, we specialize in helping clients achieve financial security by providing a suite of retirement savings products and acting as a solutions provider to institutions. Our patient, creative, and knowledgeable approach to investing aligns our clients, businesses we invest in, our employees, and the communities we impact, to expand opportunity and achieve positive outcomes. As of June 30, 2026, Apollo had approximately $1.05 trillion of assets under management. To learn more, please visit www.apollo.com.
ABOUT BRAZOS MIDSTREAM:
Headquartered in Fort Worth, Texas, Brazos Midstream represents the largest privately held midstream platform in the Midland Basin. Brazos Midstream's critical hydrocarbon infrastructure of natural-gas gathering pipelines spans the most prolific producing counties in the Midland Basin. Brazos has expansion projects underway to expand its current processing capacity to approximately 1.2 billion cubic feet per day (Bcf/d) in 2027. Brazos Midstream's Midland platform is backed by Old Ironsides Energy, LLC and EnCap Flatrock Midstream, L.P.
FORWARD-LOOKING STATEMENTS:
Some of the statements contained and incorporated in this news release are forward-looking statements as defined under federal securities laws. The forward-looking statements relate to our anticipated financial performance (including projected levels of quarterly and annual dividends and adjusted EBITDA), growth, leverage, synergies, liquidity, market conditions and other matters. We make these forward-looking statements in reliance on the safe harbor protections provided under federal securities laws and other applicable laws.
Forward-looking statements include the items identified in the preceding paragraph, the information concerning possible or assumed future results of our operations and other statements contained or incorporated in this news release identified by words such as "anticipate," "believe," "continue," "could," "estimate," "expect," "forecast," "goal," "guidance," "intend," "may," "might," "outlook," "plan," "potential," "project," "scheduled," "should," "will," "would" and other words and terms of similar meaning.
One should not place undue reliance on forward-looking statements. Known and unknown risks, uncertainties and other factors may cause our actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by forward-looking statements, including, without limitation, conditions to the completion of the acquisition, such as required regulatory clearance, not being satisfied; closing of the acquisition or minority equity investment being delayed or not occurring at all; the occurrence of any event, change or other circumstance or condition that could give rise to the termination of the acquisition agreement; and ONEOK being unable to achieve the anticipated benefits of the acquisition or minority equity investment, including failure to achieve anticipated growth levels or operational synergies. Those factors may affect our operations, markets, products, services and prices. These and other risks are described in greater detail in Item 1A, Risk Factors, in our most recent Annual Report on Form 10-K and in the other filings that we make with the Securities and Exchange Commission (SEC), which are available on the SEC's website at www.sec.gov. All forward-looking statements attributable to us or persons acting on our behalf are expressly qualified in their entirety by these factors. Any such forward-looking statement speaks only as of the date on which such statement is made, and, other than as required under securities laws, we undertake no obligation to update publicly any forward-looking statement whether as a result of new information, subsequent events or change in circumstances, expectations or otherwise.
Apollo Global Management jmenovala Reeda Raymana do čela obchodů souvisejících s umělou inteligencí a chce více financovat velké projekty digitální infrastruktury. Zaměří se hlavně na čipy a jejich leasingové platby.
Apollo Global Management named a new leader to head artificial intelligence-related deals, The Information reported Wednesday (Aug. 5).
Partner Reed Rayman will lead the asset management company’s chip-focused efforts, according to the report, which cited unnamed sources.
It’s part of a larger strategy to capture more digital infrastructure deals and link them with investment teams across Apollo, with Rayman concentrating on developing relationships to help Apollo oversee the financing of more big and complex AI infrastructure projects, the report said.
Apollo and other major asset managers are aiming to capture more business from the massive financing required to fund AI infrastructure build-out, per the report. Some high-profile projects are too big for standard corporate loans, requiring an array of partnerships, backstops and other arrangements to spread the risk among AI labs, chip and cloud providers, and lenders.
Apollo earlier this year arranged financing for Broadcom that will help Google deploy its custom AI chips with Anthropic as its customer, the report said.
Apollo already has a large team working on AI-centric deals, with around 60 employees focused on digital infrastructure, according to the report. Rayman is focused on sourcing deals supported by semiconductors and their lease payments, rather than financing other aspects of AI infrastructure like data centers.
Meanwhile, a new class of buyers, sometimes called AI roll-ups, is emerging across accounting, property management and customer service, PYMNTS reported Tuesday (Aug. 4).
“Unlike traditional acquirers, these companies are not buying small service businesses to cut costs or flip them for a quick return,” the report said. “They are buying them to keep the customer relationships already in place, then rebuild the actual work behind those relationships with proprietary artificial intelligence. The wager is that AI does not just make an existing business more efficient. It replaces the work itself, at a scale no individual small business could reach on its own.”
In these deals, companies are wagering “that rebuilding the production layer with AI, not just consolidating ownership, is what creates value, whether the target is a local accounting practice or a publicly traded company generating billions,” according to the report.
For all PYMNTS AI coverage, subscribe to the daily AI Newsletter.
Apollo Global Management, Inc. (APO) Q2 2026 Earnings Call August 4, 2026 8:30 AM EDT
Company Participants
Noah Gunn - MD of Finance & Global Head of Investor Relations in New York
Marc Rowan - Co-Founder, CEO & Chairman of the Board
James Zelter - President & Director
Martin Kelly - Partner & CFO
Conference Call Participants
Steven Chubak - Wolfe Research, LLC
Craig Siegenthaler - BofA Securities, Research Division
Alexander Blostein - Goldman Sachs Group, Inc., Research Division
Glenn Schorr - Evercore ISI Institutional Equities, Research Division
Michael Brown - UBS Investment Bank, Research Division
Patrick Davitt
William Katz - TD Cowen, Research Division
Brian Bedell - Deutsche Bank AG, Research Division
Benjamin Budish - Barclays Bank PLC, Research Division
Brennan Hawken - BMO Capital Markets Equity Research
Wilma Jackson Burdis - Raymond James & Associates, Inc., Research Division
Michael Cyprys - Morgan Stanley, Research Division
Crispin Love - Piper Sandler & Co., Research Division
Bart Dziarski - RBC Capital Markets, Research Division
Presentation
Operator
Good morning, and welcome to Apollo Global Management's Second Quarter 2026 Earnings Conference Call. [Operator Instructions] This conference call is being recorded.
This call may include forward-looking statements and projections, which do not guarantee future events or performance. Please refer to Apollo's most recent SEC filings for risk factors related to these statements. Apollo will be discussing certain non-GAAP measures on this call, which management believes are relevant in assessing the financial performance of the business. These non-GAAP measures are reconciled to GAAP figures in Apollo's earnings presentation, which is available on the company's website. Also note that nothing on this call constitutes an offer to sell or a solicitation of an offer to purchase an interest in any Apollo fund.
I will now turn the call over to Noah Gunn, Global Head of Investor Relations.
Noah Gunn
MD of Finance & Global Head of Investor Relations in New
Apollo Global Management Inc. (APO - Free Report) came out with quarterly earnings of $2.11 per share, missing the Zacks Consensus Estimate of $2.18 per share. This compares to earnings of $1.92 per share a year ago. These figures are adjusted for non-recurring items.
This quarterly report represents an earnings surprise of -3.21%. A quarter ago, it was expected that this company would post earnings of $1.98 per share when it actually produced earnings of $1.94, delivering a surprise of -2.02%.
Over the last four quarters, the company has surpassed consensus EPS estimates two times.
Apollo Global Management, which belongs to the Zacks Financial - Investment Management industry, posted revenues of $1.34 billion for the quarter ended June 2026, surpassing the Zacks Consensus Estimate by 2.31%. This compares to year-ago revenues of $1.1 billion. The company has topped consensus revenue estimates four times over the last four quarters.
The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call.
Apollo Global Management shares have lost about 10.6% since the beginning of the year versus the S&P 500's gain of 11%.
What's Next for Apollo Global Management?While Apollo Global Management has underperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock?
There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately.
Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions.
Ahead of this earnings release, the estimate revisions trend for Apollo Global Management was mixed. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #3 (Hold) for the stock. So, the shares are expected to perform in line with the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.
It will be interesting to see how estimates for the coming quarters and the current fiscal year change in the days ahead. The current consensus EPS estimate is $2.30 on $1.37 billion in revenues for the coming quarter and $8.88 on $5.35 billion in revenues for the current fiscal year.
Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Financial - Investment Management is currently in the top 28% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.
GCM Grosvenor Inc. (GCMG - Free Report) , another stock in the same industry, has yet to report results for the quarter ended June 2026. The results are expected to be released on August 10.
This company is expected to post quarterly earnings of $0.19 per share in its upcoming report, which represents a year-over-year change of +18.8%. The consensus EPS estimate for the quarter has remained unchanged over the last 30 days.
GCM Grosvenor Inc.'s revenues are expected to be $133.84 million, up 11.9% from the year-ago quarter.
Apollo oznámila za 2. čtvrtletí rekordní zisky v oblasti Asset Management a Retirement Services. Správní rada zároveň schválila dividendu ve výši 0,5625 USD na akcii.
August 04, 2026 06:30 ET | Source: Apollo Global Management, Inc.
NEW YORK, Aug. 04, 2026 (GLOBE NEWSWIRE) -- Apollo Global Management, Inc. (NYSE: APO) (together with its consolidated subsidiaries, “Apollo”) today reported results for the second quarter ended June 30, 2026.
Marc Rowan, Chairman and Chief Executive Officer at Apollo said, “Our strong second quarter results reflect record earnings across Asset Management and Retirement Services, highlighting the quality and growing scale of our business. We are at the forefront of modernizing how private markets operate by enhancing transparency, improving liquidity, and broadening access. In a market evolving quickly with increasing demand for capital, the breadth of our origination capabilities combined with a principal mindset positions us to help shape what comes next.”
Apollo issued a full detailed presentation of its second quarter ended June 30, 2026 results, which can be viewed on Apollo’s Investor Relations website at ir.apollo.com.
Dividend
Apollo Global Management, Inc. has declared a cash dividend of $0.5625 per share of its Common Stock for the second quarter ended June 30, 2026. This dividend will be paid on August 31, 2026 to holders of record at the close of business on August 19, 2026.
The declaration and payment of dividends on the Common Stock are at the sole discretion of Apollo Global Management, Inc.’s board of directors. Apollo cannot assure its stockholders that they will receive any dividends in the future.
Conference Call
Apollo will host a public audio webcast on Tuesday, August 4, 2026 at 8:30 a.m. Eastern Time. During the webcast, members of Apollo’s senior management team will review Apollo’s financial results for the second quarter ended June 30, 2026.
The webcast may be accessed at ir.apollo.com. For those unable to listen to the live broadcast, there will be a replay of the webcast available at the same link one hour after the event.
Apollo distributes its earnings releases via its website and email distribution lists. Those interested in receiving firm updates by email can sign up for them at ir.apollo.com.
About Apollo
Apollo is a high-growth, global alternative asset manager. In our asset management business, we seek to provide our clients excess return at every point along the risk-reward spectrum from investment grade credit to private equity. For more than three decades, our investing expertise across our fully integrated platform has served the financial return needs of our clients and provided businesses with innovative capital solutions for growth. Through Athene, our retirement services business, we specialize in helping clients achieve financial security by providing a suite of retirement savings products and acting as a solutions provider to institutions. Our patient, creative, and knowledgeable approach to investing aligns our clients, businesses we invest in, our employees, and the communities we impact, to expand opportunity and achieve positive outcomes. As of June 30, 2026, Apollo had approximately $1.05 trillion of assets under management. To learn more, please visit www.apollo.com.
Forward-Looking Statements
In this press release, references to “Apollo,” “we,” “us,” “our” and the “Company” refer collectively to Apollo Global Management, Inc. and its subsidiaries, or as the context may otherwise require. This press release may contain forward-looking statements that are within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These statements include, but are not limited to, discussions related to Apollo’s expectations regarding the performance of its business, its liquidity and capital resources and other non-historical statements. These forward-looking statements are based on management’s beliefs, as well as assumptions made by, and information currently available to, management. When used in this press release, the words “believe,” “anticipate,” “estimate,” “expect,” “intend” and similar expressions are intended to identify forward-looking statements. Although management believes that the expectations reflected in these forward-looking statements are reasonable, it can give no assurance that these expectations will prove to have been correct. These statements are subject to certain risks, uncertainties and assumptions, including risks relating to inflation, interest rate fluctuations and market conditions generally, international trade barriers, domestic or international political developments and other geopolitical events, including geopolitical tensions and hostilities, the impact of energy market dislocation, our ability to manage our growth, our ability to operate in highly competitive environments, the performance of the funds we manage, our ability to raise new funds, the variability of our revenues, earnings and cash flow, the accuracy of management’s assumptions and estimates, our dependence on certain key personnel, our use of leverage to finance our businesses and investments by the funds we manage, Athene’s ability to maintain or improve financial strength ratings, the impact of Athene’s reinsurers failing to meet their assumed obligations, Athene’s ability to manage its business in a highly regulated industry, changes in our regulatory environment and tax status, and litigation risks, among others. We believe these factors include but are not limited to those described under the section entitled “Risk Factors” in our annual report on Form 10-K filed with the Securities and Exchange Commission (the “SEC”) on February 25, 2026, as such factors may be updated from time to time in our periodic filings with the SEC, which are accessible on the SEC’s website at www.sec.gov. These factors should not be construed as exhaustive and should be read in conjunction with the other cautionary statements that are included in this press release and in our other filings with the SEC. We undertake no obligation to publicly update any forward-looking statements, whether as a result of new information, future developments or otherwise, except as required by applicable law. This press release does not constitute an offer of any Apollo fund.
Investor and Media Relations Contacts
For investors please contact:
Noah Gunn
Global Head of Investor Relations
Apollo Global Management, Inc.
212-822-0540 [email protected]
For media inquiries please contact:
Joanna Rose
Global Head of Corporate Communications
Apollo Global Management, Inc.
212-822-0491 [email protected]
Apollo ve 2. čtvrtletí zvýšila výnosy z poplatků o 25 % na 785 mil. USD a výnosy z pojištění o 7 % na 877 mil. USD. Zisk z prodeje aktiv ale klesl na 16 mil. USD.
Apollo Global Management's logo at their office in Tokyo, Japan October 20, 2025. REUTERS/Miho Uranaka Purchase Licensing Rights, opens new tab
CompaniesNEW YORK, Aug 4 (Reuters) - Apollo Global Management (APO.N), opens new tab posted a rise in earnings from fees and its insurance business in the second quarter, but cashed in less on its own investments in a tougher environment for asset sales, the company said on Tuesday.
The New York-based company posted adjusted net income of $2.11 per share, 10% higher than the same period last year but below estimates of $2.17 per share drawn from an LSEG poll of analysts.
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Apollo started as a private equity firm in 1990 and has since pushed hard into credit and insurance, helping swell its total assets under management to $1.05 trillion at end-June.
CEO Marc Rowan has pledged to increase transparency and liquidity for private assets as valuations have come under scrutiny, with funds struggling to sell equity stakes and investors worrying about lending standards outside traditional banks.
Fee-related earnings from managing assets and arranging debt and equity deals rose 25% to $785 million, while the spread earned on insurance assets rose 7% to $877 million.
Apollo said those metrics broke quarterly records, as did fees from a unit which offers direct loans and asset-backed finance.
Principal investing income, which reflects profits from divestments, dipped to $16 million from $75 million in the previous quarter and $47 million in the same period of 2025.
Sales of assets from certain funds had been "prudently delayed", Apollo said, adding that some fees and income were lower "while market conditions are less accommodative for monetization activity".
Rising interest rates have weighed on so-called exit deals in private equity in recent years, although buyout pioneer KKR (KKR.N), opens new tab last week reported a brisk quarter for such deals.
Apollo's asset management arm brought in $38 billion in fresh capital in the second quarter.
The company said that was driven in part by multi-asset securitization strategies, which include new vehicles pulling together different types of debt. The firm is marketing those vehicles, dubbed AMAPS, as a replacement for collateralized loan obligations.
Credit products for institutional investors and its latest flagship private equity fund also attracted inflows.
Wealthy individuals who have been staging a retreat from private credit this year pitched in $3 billion during the quarter, down from $4 billion in the previous three months.
Reporting by Isla Binnie in New York and Arasu Kannagi Basil in Bengaluru; Editing by Devika Syamnath
Our Standards: The Thomson Reuters Trust Principles., opens new tab
Isla Binnie reports on how company directors and executives manage stakeholder and shareholder interests, with a focus on compensation, corporate crises, dealmaking and succession. She also covers how politics, regulation, environmental issues and the broader economy affect boardroom discussions. Isla previously covered business, politics and general news in Spain and Italy. She trained with Reuters in London and covered emerging markets debt for the International Financing Review (IFR).
Basil writes stories across the U.S. finance file including banks, asset managers, payment firms, insurers, and exchange operators. He also covers initial public offerings on U.S. exchanges and venture capital funding.
Apollo Funds koupily Maverick Water Group, houstonského vývojáře, vlastníka a provozovatele alternativních systémů nepitné vody, které slouží komunitám po celém Texasu. Management si ponechává menšinový podíl a firmu dál vede.
August 03, 2026 17:00 ET | Source: Apollo Global Management, Inc.
NEW YORK and HOUSTON, Aug. 03, 2026 (GLOBE NEWSWIRE) -- Apollo (NYSE: APO) today announced that Apollo-managed funds (“Apollo Funds”) have acquired Maverick Water Group (“Maverick” or the “Company”), a Houston-based developer, owner and operator of alternative non-potable water systems that serve communities across Texas, from funds managed by Crosstimbers Capital Group (“Crosstimbers”). Maverick’s management team retains a minority stake and continues to operate the Company.
Founded in 2018, Maverick develops alternative water system assets, purpose-built in partnership with real estate development and industrial customers to support reliable non-potable water supply. With Apollo Funds’ support, the Company plans to continue scaling its platform and its significant near-term pipeline to meet accelerating demand for efficient, sustainable water infrastructure.
“Maverick has built a differentiated platform delivering long-term water solutions across some of the country’s fastest-growing markets,” said Jon Levinson, Managing Director, in Apollo’s Infrastructure Group. “Bringing to bear the scale of our infrastructure platform and deep industry expertise, we look forward to partnering with Maverick's highly experienced team to support the Company and its customers through this next phase of growth.”
“We built Maverick to deliver reliable water solutions in regions where they are increasingly important, and we’re proud of the platform and the reputation our team has established,” said Dustin Kinder, Chief Executive Officer of Maverick Water Group. “Apollo shares our long-term vision for the business, and its partnership will enable us to continue investing in the innovative solutions our customers have come to expect from us. We're excited about what we can accomplish together in this next chapter, and we're grateful to the Crosstimbers team for all their support.”
“Resilient infrastructure, innovation, and stronger alignment with companies are all important elements of flourishing communities. That’s the belief we founded Maverick on,” said Trevor Brock, Co-founder and Managing Partner of Crosstimbers. “Dustin, Ben, and the team have built an exceptional business around it, with a culture to match. We’re grateful for their partnership and excited to watch Maverick continue to grow with Apollo.”
Apollo Funds have deployed more than $130 billion1 across infrastructure and infrastructure-related investments over the past five years, as the Global Industrial Renaissance continues to drive demand for modern and resilient physical infrastructure.
Guggenheim Securities acted as financial advisor to Maverick in connection with the transaction. Latham & Watkins LLP served as legal counsel to Crosstimbers on the transaction. Vinson & Elkins LLP served as legal counsel to Apollo Funds on the transaction.
1 The deployment, commitment, or arrangement of capital into infrastructure investments is commensurate with Apollo’s proprietary Infrastructure Investment Classification Framework and Calculation Methodology (the “Methodology”). The Methodology, which is subject to change at any time without notice, sets forth certain categories of investments classified by Apollo as infrastructure investments. Only investments determined to be aligned with one or more categories of infrastructure investment in accordance with the Methodology are counted toward the deployment, commitment, or arrangement of capital. Under the Methodology, Apollo uses different calculation methodologies for different types of asset classes. For additional details on the Methodology, please refer to our website.
About Apollo
Apollo is a high-growth, global alternative asset manager. In our asset management business, we seek to provide our clients excess return at every point along the risk-reward spectrum from investment grade credit to private equity. For more than three decades, our investing expertise across our fully integrated platform has served the financial return needs of our clients and provided businesses with innovative capital solutions for growth. Through Athene, our retirement services business, we specialize in helping clients achieve financial security by providing a suite of retirement savings products and acting as a solutions provider to institutions. Our patient, creative, and knowledgeable approach to investing aligns our clients, businesses we invest in, our employees, and the communities we impact, to expand opportunity and achieve positive outcomes. As of March 31, 2026, Apollo had approximately $1.03 trillion of assets under management. To learn more, please visit www.apollo.com.
About Maverick Water Group
Founded in 2018 and headquartered in Houston, Texas, Maverick Water Group develops, owns and operates alternative water systems that deliver non-potable water to communities and data centers, industrial, energy and real estate customers across Texas. Through purpose-built, long-term contracted infrastructure, Maverick helps reduce costs and preserve scarce potable water supply in the nation’s fastest-growing regions.
About Crosstimbers Capital Group
Based in Houston, Texas, Crosstimbers Capital Group provides formation capital to scalable platform companies that acquire, develop, and operate hard assets. For more information, visit www.crosstimbers.com.
Contacts
Noah Gunn
Global Head of Investor Relations
Apollo Global Management, Inc.
(212) 822-0540 [email protected]
Joanna Rose
Global Head of Corporate Communications
Apollo Global Management, Inc.
(212) 822-0491 [email protected]
Společnost Empowered Funds LLC ve 1. čtvrtletí zvýšila svůj podíl ve společnosti Apollo Global Management o 56,6 % na 40 811 akcií. Hodnota podílu činila 4,547 mil. USD.
Empowered Funds LLC raised its stake in shares of Apollo Global Management Inc. (NYSE:APO – Free Report) by 56.6% in the first quarter, according to its most recent 13F filing with the SEC. The fund owned 40,811 shares of the financial services provider’s stock after buying an additional 14,749 shares during the period. Empowered Funds LLC’s holdings in Apollo Global Management were worth $4,547,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also modified their holdings of APO. Boston Partners boosted its stake in shares of Apollo Global Management by 106.7% in the fourth quarter. Boston Partners now owns 3,278,862 shares of the financial services provider’s stock worth $474,384,000 after buying an additional 1,692,532 shares during the last quarter. Temasek Holdings Private Ltd raised its position in Apollo Global Management by 214.4% during the first quarter. Temasek Holdings Private Ltd now owns 2,368,162 shares of the financial services provider’s stock valued at $263,861,000 after acquiring an additional 1,614,813 shares in the last quarter. Focus Partners Wealth raised its position in Apollo Global Management by 2,560.3% during the fourth quarter. Focus Partners Wealth now owns 1,404,576 shares of the financial services provider’s stock valued at $203,324,000 after acquiring an additional 1,351,778 shares in the last quarter. Corient Private Wealth LLC lifted its holdings in Apollo Global Management by 271.8% in the fourth quarter. Corient Private Wealth LLC now owns 1,024,143 shares of the financial services provider’s stock valued at $148,255,000 after acquiring an additional 748,697 shares during the period. Finally, Wellington Management Group LLP lifted its holdings in Apollo Global Management by 5,321.9% in the fourth quarter. Wellington Management Group LLP now owns 551,570 shares of the financial services provider’s stock valued at $79,845,000 after acquiring an additional 541,397 shares during the period. Institutional investors and hedge funds own 77.06% of the company’s stock.
Analyst Upgrades and Downgrades A number of equities research analysts have recently commented on the stock. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating on shares of Apollo Global Management in a research note on Thursday, May 7th. BMO Capital Markets lowered their price target on shares of Apollo Global Management from $140.00 to $126.00 and set a “market perform” rating on the stock in a report on Monday, July 13th. Wall Street Zen raised shares of Apollo Global Management from a “strong sell” rating to a “sell” rating in a report on Sunday. UBS Group upped their price objective on shares of Apollo Global Management from $138.00 to $158.00 and gave the stock a “buy” rating in a research report on Friday, May 8th. Finally, Piper Sandler lowered their target price on shares of Apollo Global Management from $157.00 to $156.00 and set an “overweight” rating on the stock in a research note on Monday, July 13th. One research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $149.08.
Read Our Latest Stock Report on APO
Key Headlines Impacting Apollo Global Management Here are the key news stories impacting Apollo Global Management this week:
Positive Sentiment: Investors are looking ahead to Apollo’s August 4, 2026, second-quarter earnings release. Preliminary figures disclosed in July indicated an estimated 10% annualized return for Athene’s main pooled alternative investment vehicle and 6% for other alternative investments, providing an encouraging backdrop for results. Apollo’s assets under management also exceeded $1 trillion in the first quarter. Apollo Global Management gains as investors look ahead to Q2 results Positive Sentiment: Wall Street’s median price target is reported at $146, above recent trading levels, and analysts maintain an overall “Moderate Buy” view. Upcoming projections focus on key Q2 metrics that could reinforce confidence in Apollo’s fee-related earnings and fundraising momentum. Apollo Global Management receives average Moderate Buy rating Insights into Apollo Global Management Q2 projections Neutral Sentiment: Apollo announced that its 6.75% Series A mandatory convertible preferred stock will automatically convert into common shares on July 31 at a rate of 0.5074 common shares per preferred share. The conversion expands common equity but may dilute existing shareholders; holders of record will receive a final $0.8438 preferred dividend. Apollo announces conversion rate for mandatory convertible preferred stock Neutral Sentiment: Apollo economist Torsten Slok warned that reduced Federal Reserve communication is contributing to volatile bond markets. Separately, reports that 30-year Treasury yields are near multi-decade highs suggest interest rates could remain elevated, potentially affecting asset valuations, credit conditions and deal activity. Apollo’s Slok discusses bond-market volatility US 30-year Treasury yield nears 20-year high Negative Sentiment: A Mississippi pension fund filed a lawsuit alleging Apollo downplayed ties involving Jeffrey Epstein. The allegations could create reputational, legal and governance risks, although the reports do not indicate a direct change to Apollo’s operating outlook. Mississippi pension fund sues Apollo over alleged downplayed Epstein ties Negative Sentiment: Recent disclosed insider activity shows three open-market sales by Apollo co-president John Zito totaling approximately 48,644 shares, with no reported purchases in the past six months. This is a secondary sentiment headwind for investors. Insider Buying and Selling at Apollo Global Management In related news, insider John P. Zito sold 48,644 shares of the business’s stock in a transaction dated Wednesday, May 27th. The shares were sold at an average price of $130.66, for a total transaction of $6,355,825.04. Following the transaction, the insider directly owned 3,063,696 shares in the company, valued at approximately $400,302,519.36. The trade was a 1.56% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 8.30% of the company’s stock.
Apollo Global Management Stock Performance Shares of NYSE:APO opened at $126.03 on Monday. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.73 and a quick ratio of 1.73. The business’s 50 day moving average price is $125.34 and its 200-day moving average price is $123.13. The firm has a market capitalization of $72.66 billion, a PE ratio of 80.27, a P/E/G ratio of 1.10 and a beta of 1.51. Apollo Global Management Inc. has a 1 year low of $99.56 and a 1 year high of $153.29.
Apollo Global Management (NYSE:APO – Get Free Report) last issued its quarterly earnings results on Wednesday, May 6th. The financial services provider reported $1.94 EPS for the quarter, topping the consensus estimate of $1.89 by $0.05. Apollo Global Management had a return on equity of 14.43% and a net margin of 3.62%.The firm had revenue of $5.06 billion during the quarter, compared to analysts’ expectations of $5.19 billion. During the same period in the previous year, the business earned $1.82 earnings per share. The firm’s revenue for the quarter was down 8.8% on a year-over-year basis. As a group, equities research analysts expect that Apollo Global Management Inc. will post 8.18 earnings per share for the current fiscal year.
Apollo Global Management Increases Dividend The firm also recently announced a quarterly dividend, which was paid on Friday, May 29th. Stockholders of record on Tuesday, May 19th were given a $0.5625 dividend. This represents a $2.25 dividend on an annualized basis and a dividend yield of 1.8%. This is a positive change from Apollo Global Management’s previous quarterly dividend of $0.51. The ex-dividend date was Tuesday, May 19th. Apollo Global Management’s dividend payout ratio (DPR) is currently 143.31%.
Apollo Global Management Company Profile (Free Report)
Apollo Global Management, Inc (NYSE: APO) is a global alternative investment manager that specializes in private equity, credit and real assets. The firm originates, invests in and manages a broad set of strategies across distressed and opportunistic credit, direct lending, structured credit, buyouts and real estate. Apollo provides investment management and advisory services to institutional clients and individual investors through pooled funds, separate accounts and publicly listed investment vehicles.
Its private equity business pursues control and non-control investments across industries, often focusing on complex or distressed situations where operational improvement and capital solutions can create value.
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Apollo oznámilo, že jeho 6,75% Series A Mandatory Convertible Preferred Stock se 31. července automaticky převede na kmenové akcie v poměru 0,5074 akcie na kus. Za zlomky bude vyplacena hotovost.
July 30, 2026 06:45 ET | Source: Apollo Global Management, Inc.
NEW YORK, July 30, 2026 (GLOBE NEWSWIRE) -- Apollo Global Management, Inc. (NYSE: APO) (the “Company”) announced today that its outstanding 6.75% Series A Mandatory Convertible Preferred Stock (the “Preferred Stock”) will automatically convert into shares of the Company’s common stock on July 31, 2026 (the “conversion date”). The conversion rate for each share of Preferred Stock will be 0.5074 shares of the Company’s common stock. Cash will be paid in lieu of fractional shares of common stock.
As previously announced, holders of record at the close of business on July 15, 2026 will separately receive a final quarterly cash dividend of $0.8438 per share on the Preferred Stock, payable on the conversion date.
About Apollo
Apollo is a high-growth, global alternative asset manager. In our asset management business, we seek to provide our clients excess return at every point along the risk-reward spectrum from investment grade credit to private equity. For more than three decades, our investing expertise across our fully integrated platform has served the financial return needs of our clients and provided businesses with innovative capital solutions for growth. Through Athene, our retirement services business, we specialize in helping clients achieve financial security by providing a suite of retirement savings products and acting as a solutions provider to institutions. Our patient, creative and knowledgeable approach to investing aligns our clients, businesses we invest in, our employees and the communities we impact, to expand opportunity and achieve positive outcomes. As of March 31, 2026, Apollo had approximately $1.03 trillion of assets under management. To learn more, please visit www.apollo.com.
Contacts
Noah Gunn
Global Head of Investor Relations
Apollo Global Management, Inc.
(212) 822-0540 [email protected]
Joanna Rose
Global Head of Corporate Communications
Apollo Global Management, Inc.
(212) 822-0491 [email protected]
Společnost Apollo Funds se dohodla na investici 1,5 miliardy USD do fondu Keppel Offshore Fund, který bude držet portfolio offshore energetických aktiv spravovaných společností Keppel.
July 27, 2026 09:07 ET | Source: Apollo Global Management, Inc.
SINGAPORE and NEW YORK, July 27, 2026 (GLOBE NEWSWIRE) -- Apollo (NYSE: APO) today announced that Apollo-managed funds and affiliates (“Apollo Funds”) have agreed to invest $1.5 billion into Keppel Ltd.’s (SGX: BN4) Keppel Offshore Fund, LP (“the Fund”), that will hold a portfolio of offshore energy assets, managed by Keppel.
Keppel is a Singapore-headquartered global asset manager and operator with strong expertise in areas of infrastructure, real estate and connectivity, overseeing S$95 billion in funds under management. The transaction, rated investment grade and one of the first of its kind in Southeast Asia, takes place as the region’s offshore energy market sees increased growth supported by high utilization rates and long-term demand trends.
“As one of the first transactions of its kind in Southeast Asia, this partnership with Keppel demonstrates growing global demand among leading companies for high-grade capital solutions that advance strategic objectives,” said Jamshid Ehsani, Partner at Apollo. “Keppel has firmly established itself as one of the region’s premier asset managers and infrastructure operators, and we are pleased to support their efforts to address global energy security, leveraging our scaled permanent capital base and structuring expertise.”
Loh Chin Hua, Chief Executive Officer of Keppel, said: “We are pleased to welcome Apollo as an investment partner while we continue to manage this strong portfolio of assets. We believe long-term tailwinds in the market may offer our clients the opportunity for attractive risk-adjusted returns, and we look forward to working alongside Apollo to support the growth of the Fund as well as the energy security needs of markets around the world.”
Since 2020, Apollo has originated over $100 billion of bespoke capital solutions for leading companies such as Sony, Intel, bp, Broadcom, Air France-KLM, AB InBev and more. This transaction also underscores Apollo's deliberate strategy to partner with regional banks, combining structuring expertise and a permanent capital base with deep corporate relationships and market reach, to originate and deliver innovative solutions for companies across Asia Pacific.
The transaction is subject to customary closing conditions, including the receipt of applicable regulatory approvals.
Entities of SMBC Group are acting as debt advisor and placement agent to Apollo Funds. Latham & Watkins is serving as legal counsel for Apollo Funds and Milbank LLP is serving as investor’s counsel on the transaction. Clifford Chance is serving as legal counsel to Keppel.
About Apollo
Apollo is a high-growth, global alternative asset manager. In our asset management business, we seek to provide our clients excess return at every point along the risk-reward spectrum from investment grade credit to private equity. For more than three decades, our investing expertise across our fully integrated platform has served the financial return needs of our clients and provided businesses with innovative capital solutions for growth. Through Athene, our retirement services business, we specialize in helping clients achieve financial security by providing a suite of retirement savings products and acting as a solutions provider to institutions. Our patient, creative, and knowledgeable approach to investing aligns our clients, businesses we invest in, our employees, and the communities we impact, to expand opportunity and achieve positive outcomes. As of March 31, 2026, Apollo had approximately $1.03 trillion of assets under management. To learn more, please visit www.apollo.com.
About Keppel Ltd.
Keppel Ltd. (SGX:BN4) is a global asset manager and operator with strong expertise in sustainability-related solutions spanning the areas of infrastructure, real estate and connectivity. Headquartered in Singapore, Keppel operates in more than 20 countries worldwide, providing critical infrastructure and services for renewables, clean energy, decarbonisation, sustainable urban renewal and digital connectivity. Keppel creates value for investors and stakeholders through its quality investment platforms and diverse asset portfolios, including private funds and listed real estate and business trusts.
Contact
Noah Gunn
Global Head of Investor Relations
(212) 822-0540 [email protected]
Joanna Rose
Global Head of Corporate Communications
(212) 822-0491 [email protected]
Apollo Global Management bylo vyřazeno z Russell 1000 Growth a přesunuto do Russell 1000 Value, což po rebalancování stlačilo akcie asi o 15 % v posledních týdnech. Firma zároveň uvedla, že po podání u SEC z 22. června omezila odkupy na 5 %.
Apollo Global Management's (APO +1.58%) stock price is down about 15% in recent weeks. The decline is mainly tied to the annual reconstitution of the Russell indexes. Apollo, an alternative asset manager, was removed from the Russell 1000 Growth Index following the latest reconstitution, which took effect on June 26.
In the algorithms that Russell uses to reconstitute its various indexes, Apollo no longer exhibited the traits of a growth stock. Instead, it was deemed a value stock and was moved into the Russell 1000 Value Index.
Right after the rebalancing took effect, Apolloʻs stock price dropped sharply and is now trading at roughly $120 per share, off 18% year to date. But is this an opportunity to buy low on this growth-turned-value stock?
Image source: Getty Images.
Growth to value A big reason Apollo stock dropped is that it got kicked out of two massive growth exchange-traded funds (ETFs) -- the $127 billion iShares Russell 1000 Growth ETF (IWF +0.28%) and the $44 billion Vanguard Russell 1000 Growth ETF (VONG +0.26%). Losing invested capital from these sizeable funds, literally overnight, can leave a big dent in the stock price.
It did get added to two value ETFs -- the $81 billion iShares Russell 1000 Value ETF (IWD +0.37%) and the $20 billion Vanguard Russell 1000 Value ETF (VONV +0.47%). But combined, these two ETFs have almost $75 billion less in assets to invest than the two growth ETFs.
That aside, Apollo Global still has strong fundamentals, and this rebalancing could present an excellent buying opportunity.
Showtime for Apollo? Apollo stock looks like a good buy right now, with some momentum following a strong first quarter. As an alternative asset manager, it invests in private equity, private debt, and other alternative investments. These assets tend to have a low correlation to stocks, often performing well when stocks don't -- like they did in the first quarter.
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In Q1, Apollo had record fee-related income of $728 million, up 30% year over year, while adjusted net income rose 8% to $1.2 billion. Wall Street analysts project 21% revenue growth in 2026 and 14% growth in 2027. Earnings are expected to rise 6% this year and another 20% in 2027.
One concern that contributed to the sell-off was a June 22 Securities and Exchange Commission (SEC) filing that said Apollo was capping redemptions at 5%. This was most likely due to high redemption requests to its flagship fund, Apollo Debt Solutions, totalling 16.8% of the fund. This was sparked by heightened concerns among investors about problems in the private credit market. It's the second quarter in a row that they've put redemption caps in place. While private credit has been resilient, it is something to watch.
Apollo is a good value on a forward earnings basis Apollo's price-to-earnings (P/E) ratio is high, but that's because it took GAAP (generally accepted accounting principles) losses last quarter due to a high one-time offshore tax-related expense. But on a forward earnings basis, it is relatively cheap, trading at 13 times forward earnings.
Some 73% of Wall Street analysts rate it as a buy, with a median price target of $150 per share. That would suggest 25% upside.
I think reconstitution will benefit investors, as they can now get this value stock at a discount.
EasyJet obdržel vyšší nabídku na převzetí od Apollo Global Management, 715 pencí za akcii, která překonává návrh Castlelake. Firma už původní nabídku Castlelake nedoporučí.
Britský nízkonákladový letecký dopravce EasyJet obdržel novou nabídku na převzetí od investiční skupiny Apollo Global Management ve výši 715 pencí za akcii. Tato nabídka překonává konkurenční návrh společnosti Castlelake, což podle agentury Bloomberg přináší nečekaný zvrat v celém akvizičním procesu a otevírá prostor pro možnou akviziční bitvu mezi těmito dvěma americkými investičními fondy.
Vzhledem k tomu, že nabídka fondu Apollo v hodnotě 5,7 mld. GBP (7,6 mld. USD) je výhodnější než návrh Castlelake ve výši 5,5 mld. GBP, EasyJet již nemá v úmyslu doporučit původní návrh Castlelake, uvádí aerolinka v pátečním prohlášení. Finanční podmínky navrhované hotovostní nabídky od Apolla jsou naopak na úrovni, kterou by představenstvo akcionářům EasyJetu doporučilo.
Náhlý vstup společnosti Apollo do vyjednávání následuje po několika kolech rozhovorů z uplynulého měsíce mezi EasyJetem a fondem Castlelake, který svou nabídku neustále navyšoval, aby udržel jednání v chodu. Castlelake potřeboval pět pokusů a nabídku 690 pencí za akcii, aby přesvědčil EasyJet ke zpřístupnění účetních knih. Castlelake tak nyní podle Bloombergu musí zvážit, zda dokáže přijít s ještě vyšší částkou a Apollo přeplatit.
Společnosti Castlelake a EasyJet prodloužily formální lhůtu pro předložení závazné nabídky (tzv. „put up or shut up“ deadline) do 3. srpna.
Akcie EasyJet Akcie EasyJet (EZJ) dnes na londýnské burze rostou o 14,60 % na 674,05 GBX. Akcie se obchodují rovněž na frankfurtské burze pod tickerem EJT1, kde posilují o 13,15 % na 7,88 EUR.
Apollo oznámila, že výsledky za 2. čtvrtletí 2026 zveřejní 4. srpna před otevřením burzy NYSE. Management je následně probere v 8:30 ET na veřejném webcastu.
June 25, 2026 08:00 ET | Source: Apollo Global Management, Inc.
NEW YORK, June 25, 2026 (GLOBE NEWSWIRE) -- Apollo (NYSE: APO) plans to release financial results for the second quarter 2026 on Tuesday, August 4, 2026, before the opening of trading on the New York Stock Exchange. Management will review Apollo’s financial results at 8:30 am ET via public webcast available on Apollo’s Investor Relations website at ir.apollo.com. A replay will be available one hour after the event.
Apollo distributes its earnings releases via its website and email lists. Those interested in receiving firm updates by email can sign up for them here.
About Apollo
Apollo is a high-growth, global alternative asset manager. In our asset management business, we seek to provide our clients excess return at every point along the risk-reward spectrum from investment grade credit to private equity. For more than three decades, our investing expertise across our fully integrated platform has served the financial return needs of our clients and provided businesses with innovative capital solutions for growth. Through Athene, our retirement services business, we specialize in helping clients achieve financial security by providing a suite of retirement savings products and acting as a solutions provider to institutions. Our patient, creative and knowledgeable approach to investing aligns our clients, businesses we invest in, our employees and the communities we impact, to expand opportunity and achieve positive outcomes. As of March 31, 2026, Apollo had approximately $1.03 trillion of assets under management. To learn more, please visit www.apollo.com.
Contacts
Noah Gunn
Global Head of Investor Relations
Apollo Global Management, Inc.
(212) 822-0540 [email protected]
Joanna Rose
Global Head of Corporate Communications
Apollo Global Management, Inc.
(212) 822-0491 [email protected]
Apollo omezí odkupy v hlavním retailovém private credit fondu Apollo Debt Solutions na 5 % podílů poté, co žádosti o odkup ve 2. čtvrtletí vyskočily na 16,8 %.
Apollo is limiting investor redemptions in its main retail-focused private credit fund after withdrawal requests rose to 17% during the second quarter.
The private markets giant said it will cap withdrawals at 5% of shares in the Apollo Debt Solutions vehicle, after investors rushed to pull out about $2.4 billion, or 16.8%, during the three-month period.
Why Apollo capped withdrawals"Taken together, we expect net outflows from ADS will be approximately $400 million for the second quarter of 2026 and year-to-date, representing 3% of NAV," Apollo said in a filing with the Securities and Exchange Commission published on Monday.
It highlighted a "notable regional split" in second-quarter withdrawal requests, with U.S. onshore clients looking to pull out about 4.3%, while redemptions from offshore investors jumped to 12.5%.
Apollo Global Management.
The move comes after the $26 billion fund — a non-traded business development company which offers wealthy retail investors exposure to higher-yielding private credit assets — said withdrawal requests in the previous quarter rose to more than 11%.
Why private credit funds are under pressureThe redemption spike once again spotlights the liquidity pressures that have engulfed global private markets this year.
So-called 'semi-liquid' private debt vehicles have been subject to a wave of redemption pressure this year, as investors look to pull their money amid growing anxieties over asset quality, and as funds struggle to reconcile the less-liquid nature of private assets and the retail wealth channel.
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Earlier this month, Blackstone said it had restricted investor withdrawals from its flagship $79 billion Blackstone Private Credit Fund, or BCRED, to 5%, after they surged to 10% during the second quarter.
Across the Atlantic, Switzerland's Partners Group recently warned it may curb redemptions in several of its private asset vehicles following a surge in exit requests.
"We're discovering in real time that you can't offer near‑daily liquidity on genuinely illiquid assets without eventually testing the plumbing, and 2026 is the year those structures get rewritten," said Sunaina Sinha Haldea, global head of private capital advisory at Raymond James.
"Redemption pressure in evergreen private credit isn't just a credit story, it's a structural one," Haldea told CNBC via email.
She warned that the 'wrap-it-for-retail-and-the-money-will-come' phase in private credit markets is over, adding that weaker evergreen private credit funds risk facing gates, outflows and lost shelf space, as fundraising consolidates around private markets managers with strong governance, liquidity controls and client education.
Danielle Poli, managing director, co-portfolio manager at Oaktree Capital, said institutional capital was reaffirming its commitment to private credit, in contrast to jitters within the retail wealth channel.
Poli said institutional investors were considering increasing their allocations to the space to take advantage of scarcer capital in the market, adding that the retail wealth component makes up less than a quarter of the private credit market.
"These are longer-term private instruments that give you an attractive yield if you hold them. That's the trade-off," she told CNBC's "Squawk Box Europe" on Tuesday.
Poli said she expected the market to see a degree of differentiation between private asset managers based on their lending discipline, loan terms and how they considered the impact of a different rate environment. "That's very healthy and natural," she added.
Correction: This article was updated to reflect that redemption requests had spiked to 17%. It was also reworded to clarify Apollo is not halting all redemption requests.
