The Carlyle Group LP (CG) PT Cut to $17 at UBS; 'Buy' Kept
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Carlyle unveils $200 million share buyback, earnings miss forecast
February 10, 2016 9:47 AM ESTBy Koh Gui Qing
NEW YORK (Reuters) - Private equity firm Carlyle Group LP (NASDAQ: CG) unveiled a $200 million share buyback plan on Wednesday as it posted weaker-than-expected fourth-quarter earnings amid turbulent financial markets.
Even as choppy markets weighed on the performance of Carlyle's funds, the company accelerated its pace of new investment between October and December and spent $4 billion in the period, the second-highest on record for the firm.
"In market downturns such as this one, we've made some of our best investments," said David Rubenstein, co-chief executive officer at Carlyle.
... MoreThe Carlyle Group (CG) Tops Q4 EPS by 7c; Approves $200M Stock Buyback Plan
February 10, 2016 6:39 AM ESTThe Carlyle Group (NASDAQ: CG) reported Q4 EPS of $0.38, $0.07 better than the analyst estimate of $0.31. Revenue for the quarter came in at $491 million versus the consensus estimate of $529.56 million.
Distributable Earnings (DE): $145 million for Q4 2015 and $923 million for 2015
Distributable Earnings were $923 million for 2015, 5% lower than $973 million for 2014. Excluding a non-recurring French tax judgment in the first quarter, DE were $1.0 billion, up slightly from 2014. On a post-tax basis, Carlyle generated DE of $0.38 and $2.73 per common unit for Q4 2015 and 2015, respectively.Fee-Related Earnings (FRE) were $43 million for Q4 2015, compared to $67 million for Q4... More