Analyst Consensus ?
ConsensusBuy27 ratings
Bullish2488.9%
Neutral311.1%
Bearish00.0%
KKR & Co. Inc. · KKR · FY2026 Q1 · Calendar Q2 2026
KKR Beats Q1 Estimates but Lowers 2026 Operating EPS Guidance
KKR delivered a strong Q1 FY2026, beating EPS estimates by 10.3% and revenue by 7.6% on the back of 30% management-fee growth and record capital raising. However, the narrative shifted from the prior quarter's raised guidance to a lowered outlook: management cautioned that the full-year $7+ adjusted net income (ANI) per share target may fall short as some monetizations are deferred to 2027. The stock's -2.09% abnormal move on the report session and -11.25% subsequent drift reflect investor focus on the guidance cut rather than the quarterly beat. With the bullish score declining from 85 to 78, the market is weighing slower monetization timing against still-robust fee growth and fundraising momentum.
Reported Before market openNYSEFinancial Services
$92.18B market cap
100quality score
Earnings scorecard
Reported versus consensus
Reported EPS
$1.39
Consensus $1.26
EPS surprise
+10.3%
Reported versus consensus
Reported revenue
$2.35B
Consensus $2.18B
Revenue surprise
+7.6%
Reported versus consensus
Market reaction
prior-close to event-session close
Stock move
-1.3%
Event window
SPY move
+0.8%
Same window
Abnormal move
-2.1%
Stock minus SPY
Volume
1.2×
Versus trailing sessions
Subsequent drift
-11.2%
Up to 20 sessions
KKRSPY benchmark
Ask FN2 about KKR FY2026 Q1
Transcript, numbers and history already loaded
Why did KKR fall 1.3% after beating EPS estimates in FY2026 Q1?What changed in KKR's guidance and outlook in FY2026 Q1?Give me the bull and bear case for KKR after FY2026 Q1 earnings.
Free account. Your question opens in FN2 with this report's transcript and numbers attached.
Transcript intelligence
What changed
EPS of $1.39 beat the $1.26 consensus by 10.3%; revenue of $2.35B beat the $2.18B estimate by 7.6%. Fee-related earnings per share rose 23% YoY and management fees climbed 30%, diversified across PE, credit, and real assets. Capital raising reached $28B in Q1 and $127B year-to-date. Monetization activity increased over 50% YoY, with realized carried interest up 120% YoY. The Arctos acquisition closed, adding roughly $10B in fee-paying AUM. The dividend was increased to $0.78 per share and $317M of stock was repurchased. Guidance sentiment shifted from raised in Q4 2025 to lowered in Q1 2026, with the $7+ ANI per-share target potentially missed.
Guidance delta
In Q4 2025, management raised guidance and expressed confidence in exceeding 2026 FRE and dividend targets. In Q1 2026, guidance sentiment was lowered: management cautioned that the 2026 adjusted operating earnings per share (ANI) target of $7+ may fall short, with some monetization exits postponed to 2027. The dividend was increased to $0.78 per share as previously announced.
Key takeaways
- Fee-related earnings and management fees surged, with a diversified fee base across PE, credit, and real assets
- Capital raising momentum remains strong at $28B in Q1 and $127B year-to-date
- Monetization activity increased over 50% YoY with realized carry up 120% YoY
- 2026 ANI per-share target of $7+ may be missed; some exits shifted to 2027
- Share repurchases, dividend increase, and Arctos acquisition signal confidence in long-term earnings durability
Management priorities
- Integrate Arctos and explore new wealth solutions, including possible evergreen and sports-focused vehicles
- Scale AI initiatives across portfolio companies to drive EBITDA improvements
- Deploy additional capital in digital infrastructure and data-center investments
- Maintain aggressive share repurchase program and continue dividend growth
- Further expand employee ownership programs to enhance portfolio company performance
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Estimate
Beat
Miss
Match
Analyst 52W Price Targets
$91.64Current
$63Low
$117.98Average
$190High
Latest persisted target per named analyst; persisted current price from FN2's market snapshot as of Oct 27, 2026. Not an FN2 forecast.
Firm-level rating actions
FMP grade actions identify the grading firm, not a named analyst.
| Firm | Rating | Prior rating | Action | Date |
|---|---|---|---|---|
| Piper Sandler | Overweight | Overweight | Maintain | Oct 19, 2026 |
| UBS | Buy | Buy | Maintain | Oct 13, 2026 |
| TD Cowen | Hold | Hold | Maintain | Oct 12, 2026 |
| Barclays | Overweight | Overweight | Maintain | Oct 8, 2026 |
| Oppenheimer | Outperform | Outperform | Maintain | Aug 27, 2026 |
| Argus Research | Buy | Buy | Maintain | Aug 4, 2026 |
| BMO Capital | Outperform | Outperform | Maintain | Aug 3, 2026 |
| RBC Capital | Outperform | Outperform | Maintain | Jul 31, 2026 |
| Morgan Stanley | Overweight | Overweight | Maintain | Jul 21, 2026 |
| HSBC | Buy | Buy | Maintain | Jul 20, 2026 |
| Evercore ISI Group | Outperform | Outperform | Maintain | Jul 13, 2026 |
| Goldman Sachs | Buy | Buy | Maintain | Apr 7, 2026 |
| Citigroup | Buy | Buy | Maintain | Oct 13, 2025 |
| Keefe, Bruyette & Woods | Outperform | Outperform | Maintain | Aug 4, 2025 |
| JMP Securities | Market Perform | Market Outperform | Downgrade | Jul 14, 2025 |
| Wells Fargo | Overweight | Overweight | Maintain | Jul 11, 2025 |
| B of A Securities | Buy | Buy | Maintain | Apr 4, 2025 |
| Deutsche Bank | Buy | Buy | Maintain | Nov 11, 2024 |
| Jefferies | Buy | Buy | Maintain | May 9, 2024 |
| Credit Suisse | Neutral | Neutral | Maintain | May 9, 2023 |
| CFRA | Buy | Hold | Upgrade | May 11, 2020 |
| Keefe Bruyette & Woods | Outperform | Outperform | Maintain | May 7, 2020 |
| Bank of America | Buy | Neutral | Upgrade | Sep 23, 2019 |
| Argus | Buy | Hold | Upgrade | Oct 26, 2018 |
| PiperJaffray | Overweight | Overweight | Maintain | Jun 3, 2015 |
| Evercore Partners | Overweight | Equal Weight | Upgrade | May 13, 2014 |
| Bernstein | Outperform | Outperform | Maintain | Apr 3, 2014 |
Named analyst price targets
Upside is calculated against the persisted current price $91.64. FMP does not supply a rating on these named-analyst rows.
| Firm | Analyst | 52W target | Price when posted | Upside | Date |
|---|---|---|---|---|---|
| Barclays | Analyst unavailable | $127 | $91.34 | +38.6% | Oct 26, 2026 |
| Piper Sandler | Analyst unavailable | $121 | $86.21 | +32.0% | Oct 19, 2026 |
| Morgan Stanley | Analyst unavailable | $138 | $89 | +50.6% | Oct 16, 2026 |
| UBS | Analyst unavailable | $122 | $89.14 | +33.1% | Oct 13, 2026 |
| Barclays | Analyst unavailable | $130 | $89.67 | +41.9% | Oct 8, 2026 |
| Wells Fargo | Daniel Welden | $97 | $91.24 | +5.8% | Oct 1, 2026 |
| UBS | Michael Brown | $123 | $106.88 | +34.2% | Sep 1, 2026 |
| Piper Sandler | Crispin Love | $128 | $114.98 | +39.7% | Aug 14, 2026 |
| Deutsche Bank | Brian Bedell | $116 | $102.8 | +26.6% | Aug 3, 2026 |
| BMO Capital | Brennan Hawken | $118 | $101.43 | +28.8% | Aug 3, 2026 |
| RBC Capital | Analyst unavailable | $134 | $100.62 | +46.2% | Jul 31, 2026 |
| Barclays | Benjamin Budish | $135 | $100.98 | +47.3% | Jul 31, 2026 |
| Morgan Stanley | Analyst unavailable | $147 | $97.2 | +60.4% | Jul 21, 2026 |
| HSBC | Analyst unavailable | $121 | $100.94 | +32.0% | Jul 20, 2026 |
| BMO Capital | Brennan Hawken | $112 | $96.8 | +22.2% | Jul 13, 2026 |
| Barclays | Analyst unavailable | $124 | $96.27 | +35.3% | Jul 10, 2026 |
| UBS | Analyst unavailable | $126 | $101.4 | +37.5% | May 6, 2026 |
| Barclays | Analyst unavailable | $122 | $102 | +33.1% | May 6, 2026 |
| Morgan Stanley | Analyst unavailable | $153 | $106.76 | +66.9% | Apr 21, 2026 |
| Evercore ISI | Analyst unavailable | $119 | $106.68 | +29.8% | Apr 21, 2026 |
| RBC Capital | Analyst unavailable | $137 | $92.19 | +49.5% | Feb 23, 2026 |
| UBS | Analyst unavailable | $125 | $102.33 | +36.4% | Feb 20, 2026 |
| Morgan Stanley | Analyst unavailable | $177 | $102.46 | +93.1% | Feb 6, 2026 |
| Evercore ISI | Analyst unavailable | $125 | $102.58 | +36.4% | Feb 6, 2026 |
| Oppenheimer | Chris Kotowski | $187 | $102.04 | +104.0% | Feb 6, 2026 |
| Barclays | Analyst unavailable | $136 | $99.17 | +48.4% | Feb 6, 2026 |
| HSBC | Analyst unavailable | $144 | $116 | +57.1% | Jan 27, 2026 |
| Morgan Stanley | Analyst unavailable | $176 | $118.65 | +92.0% | Jan 27, 2026 |
| Oppenheimer | Analyst unavailable | $190 | $125.76 | +107.3% | Jan 20, 2026 |
| UBS | Analyst unavailable | $168 | $129.61 | +83.3% | Jan 13, 2026 |
| Barclays | Analyst unavailable | $159 | $133.64 | +73.5% | Jan 9, 2026 |
| Barclays | Analyst unavailable | $169 | $142.74 | +84.4% | Dec 12, 2025 |
| UBS | Michael Brown | $176 | $141.54 | +92.0% | Dec 11, 2025 |
| Barclays | Benjamin Budish | $154 | $120.11 | +68.0% | Nov 11, 2025 |
| Barclays | Analyst unavailable | $151 | $118.33 | +64.8% | Nov 3, 2025 |
| Morgan Stanley | Analyst unavailable | $166 | $122.6 | +81.1% | Oct 21, 2025 |
| Piper Sandler | Analyst unavailable | $155 | $124.42 | +69.1% | Oct 7, 2025 |
| Wolfe Research | Steven Chubak | $159 | $143.05 | +73.5% | Jul 10, 2025 |
| HSBC | Vikram Gandhi | $119 | $104.23 | +29.8% | Apr 15, 2025 |
| Wells Fargo | Analyst unavailable | $141 | $116.71 | +53.9% | Mar 20, 2025 |
| Wolfe Research | Steven Chubak | $185 | $150.92 | +101.9% | Jan 3, 2025 |
| JMP Securities | Devin Ryan | $150 | $131.35 | +63.7% | Oct 9, 2024 |
| Goldman Sachs | Alexander Blostein | $137 | $132.6 | +49.5% | Sep 24, 2024 |
| HSBC | Vikram Gandhi | $148 | $127.97 | +61.5% | Sep 18, 2024 |
| Redburn Partners | Nicholas Watts | $153 | $122.15 | +66.9% | Aug 27, 2024 |
| Oppenheimer | Chris Kotowski | $128 | $123.45 | +39.7% | Aug 1, 2024 |
| Evercore ISI | Glenn Schorr | $117 | $110.74 | +27.7% | Jul 15, 2024 |
| Oppenheimer | Chris Kotowski | $121 | $104.98 | +32.0% | Jul 8, 2024 |
| Deutsche Bank | Brian Bedell | $129 | $109.72 | +40.8% | Jun 10, 2024 |
| Jefferies | Daniel Fannon | $113 | $99.67 | +23.3% | May 9, 2024 |
| Deutsche Bank | Brian Bedell | $120 | $95.12 | +30.9% | May 2, 2024 |
| JMP Securities | Devin Ryan | $115 | $95.51 | +25.5% | Apr 15, 2024 |
| Barclays | Benjamin Budish | $113 | $100.93 | +23.3% | Apr 8, 2024 |
| Deutsche Bank | Brian Bedell | $122 | $98.17 | +33.1% | Apr 5, 2024 |
| Loop Capital Markets | Rufus Hone | $74 | $61.19 | -19.3% | Aug 8, 2023 |
| Wells Fargo | Analyst unavailable | $65 | $58.94 | -29.1% | Feb 8, 2023 |
| JMP Securities | Analyst unavailable | $72 | $49.64 | -21.4% | Jan 10, 2023 |
| Deutsche Bank | Analyst unavailable | $65 | $54.71 | -29.1% | Nov 15, 2022 |
| Deutsche Bank | Analyst unavailable | $68 | $56.79 | -25.8% | Aug 12, 2022 |
| Morgan Stanley | Analyst unavailable | $60 | $50.4 | -34.5% | Jul 19, 2022 |
| Deutsche Bank | Analyst unavailable | $66 | $46.17 | -28.0% | Jul 13, 2022 |
| Wells Fargo | Analyst unavailable | $63 | $45.53 | -31.3% | Jul 13, 2022 |
| JMP Securities | Analyst unavailable | $80 | $47.72 | -12.7% | Jul 12, 2022 |
| Piper Sandler | Analyst unavailable | $80 | $47.55 | -12.7% | Jul 11, 2022 |
| Goldman Sachs | Analyst unavailable | $63 | $47.35 | -31.3% | Jun 29, 2022 |
| Deutsche Bank | Brian Bedell | $79 | $50.46 | -13.8% | May 19, 2022 |
| Morgan Stanley | Analyst unavailable | $72 | $50.93 | -21.4% | May 10, 2022 |
| Wells Fargo | Analyst unavailable | $72 | $54.44 | -21.4% | May 4, 2022 |
| Morgan Stanley | Analyst unavailable | $71 | $58.18 | -22.5% | Apr 20, 2022 |
| Wells Fargo | Analyst unavailable | $73 | $56.13 | -20.3% | Apr 19, 2022 |
| Citigroup | William Katz | $81.5 | $55.25 | -11.1% | Apr 16, 2022 |
| Piper Sandler | Sumeet Mody | $91 | $80.74 | -0.7% | Nov 4, 2021 |
| BMO Capital | James Fotheringham | $83 | $65.61 | -9.4% | Aug 4, 2021 |
| Barclays | Jeremy Campbell | $63 | $57.59 | -31.3% | May 5, 2021 |
Track every rating change on KKR the moment it posts. Free to start.
Start freeCompany context
Snapshot as of publicationKKR & Co. Inc. is a prominent global investment powerhouse, deeply engaged in both private equity and real estate. The firm's diverse investment strategies encompass direct capital deployment as well as fund-of-funds approaches, specializing in corporate acquisitions, leveraged and management buyouts, growth equity, and a range of special situations including credit, distressed assets, and turnarounds. They also target mature and mezzanine financing opportunities, spanning companies across the lower and middle market segments. While opportunistic across all industries, KKR exhibits a keen focus on technology sectors, including software, cybersecurity, semiconductors, consumer electronics, the Internet of Things (IoT), internet services, IT infrastructure, and FinTech. Their extensive portfolio also encompasses energy, infrastructure, and a broad array of real estate ventures.…
Historical context
All KKR earningsFinancial Services peers this season
Latest reports in the same sector
Latest beats and misses
Who reports nextBeat on EPS
- VZFY2026 Q3 · October 26, 2026+3.1% EPS-3.5% move
- CXFY2026 Q3 · October 26, 2026+12.0% EPS-0.1% move
- CDNSFY2026 Q3 · October 26, 2026+2.9% EPS+1.8% move
- BAHFY2027 Q2 · October 23, 2026+18.9% EPS-0.3% move
- FCNCAFY2026 Q3 · October 23, 2026+19.9% EPS+8.2% move
- FCNCNFY2026 Q3 · October 23, 2026+19.9% EPS+0.2% move
Missed on EPS
- KOFFY2026 Q3 · October 26, 2026-9.0% EPS-1.9% move
- INFYFY2027 Q2 · October 23, 2026-4.8% EPS-6.6% move
- BBDFY2026 Q3 · October 22, 2026-7.7% EPS+3.0% move
- SNAFY2026 Q3 · October 22, 2026-5.9% EPS-3.4% move
- SPOTFY2026 Q3 · October 22, 2026-11.6% EPS+11.1% move
- VRSNFY2026 Q3 · October 22, 2026-2.0% EPS-0.9% move
Get the KKR recap when the next report posts
One email per quarter with the scorecard, the market reaction and what changed on the call. No account needed.
Sources
- Earnings call transcript and parsed analysis · 2026-05-11T10:29:34.698584+00:00
- FN2 earnings calendar · 2026-07-26T00:37:12.209961+00:00
- Polygon adjusted daily market bars · 2026-07-29T05:22:26.959254+00:00
- Financial Modeling Prep analyst price-target consensus and quote snapshot · 2026-07-29T05:22:26.956282+00:00
Methodology
Reported and consensus figures come from FN2's earnings event records. Market reaction and volume are calculated from daily adjusted bars around the event; abnormal move subtracts the SPY move over the same window.
Analyst target low, average, and high values are derived at request time from each named analyst's latest persisted FMP target. The current-price marker comes from FN2's persisted market snapshot. They are sell-side estimates, not an FN2 valuation or recommendation.
Transcript intelligence is a structured synthesis of the current and prior earnings-call analyses. Missing values stay missing and are never estimated.
By FN2 Research · Updated · As of 2026-07-29. For educational purposes only; not investment advice.