KKR Earnings: Falls Short of Analyst Revenue Estimate

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Kohlberg Kravis Roberts & Co. (NYSE:KKR) delivered a profit and beat Wall Street’s expectations, BUT came up short on beating the revenue expectation. The revenue miss is a negative sign to shareholders seeking high growth out of the company. Shares are down 0.56%.

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Kohlberg Kravis Roberts & Co. Earnings Cheat Sheet

Results: Net income increased 109.64% to $96.728 million (48 cents per diluted share on an adjusted basis) in the quarter versus a net gain of $46.14 million in the year-earlier quarter.

Revenue: Decreased 80.79% to $177.621 million from the year-earlier quarter.

Actual vs. Wall St. Expectations: Kohlberg Kravis Roberts & Co. reported adjusted net income of 48 cents per share. By that measure, the company beat the mean analyst estimate of $0.25. It missed the average revenue estimate of $216.75 million.

Quoting Management: “Our private equity portfolio and our balance sheet both appreciated 24% in 2012, outperforming the S&P 500 and MSCI World indices by over 700 basis points,” said Henry R. Kravis and George R. Roberts, Co-Chairmen and Co-Chief Executive Officers of KKR. “In addition, in 2012 we completed transactions which returned over $9 billion to all investors in our private equity funds and co-investment vehicles, the highest figure in our 36-year history, and contributed to a record annual distribution of $1.22 per common unit. We are pleased with our results.”

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