KKR & Co. Inc. Reports
Second Quarter 2021 Financial Results
August 3, 2021
KKR Reports Second Quarter 2021 Financial Results
New York, August 3, 2021 - KKR & Co. Inc. (NYSE: KKR) today reported its second quarter 2021 results.
Conference Call
A conference call to discuss KKR's financial results will be held on August 3, 2021 at 10:00 a.m. ET. The conference call may be accessed by dialing +1
- 407-0312(U.S. callers) or +1 (201) 389-0899(non-U.S. callers); a pass code is not required. Additionally, the conference call will be broadcast live over the Internet and may be accessed through the Investor Center section of KKR's website at https://ir.kkr.com/events-presentations/. A replay of the live broadcast will be available on KKR's website beginning approximately one hour after the live broadcast ends.
About KKR
KKR is a leading global investment firm that offers alternative asset management and capital markets and insurance solutions. KKR aims to generate attractive investment returns by following a patient and disciplined investment approach, employing world-class people, and supporting growth in its portfolio companies and communities. KKR sponsors investment funds that invest in private equity, credit and real assets and has strategic partners that manage hedge funds. KKR's insurance subsidiaries offer retirement, life and reinsurance products under the management of The Global Atlantic Financial Group. References to KKR's investments may include the activities of its sponsored funds and insurance subsidiaries. For additional information about KKR & Co. Inc. (NYSE: KKR), please visit KKR's website at www.kkr.com and on Twitter @KKR_Co.
"This was an exceptional
quarter for KKR. We continue
to deliver differentiated
investment performance on behalf of our fund investors leading to a record $59 billion of organic inflows this quarter. Alongside record quarterly Fee Related Earnings per share and After-tax Distributable Earnings per share, momentum across
the firm remains high."
Henry R. Kravis and
George R. Roberts
Co-Chairmen and Co-Chief
Executive Officers of KKR
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KKR Reports Second Quarter 2021 Financial Results
Legal Disclosures
This presentation has been prepared by KKR & Co. Inc. solely for informational purposes for its public stockholders in connection with evaluating the business, operations and financial results of KKR & Co. Inc. and its subsidiaries (collectively, "KKR"), which includes The Global Atlantic Financial Group LLC and its subsidiaries (collectively, "Global Atlantic") as of February 1, 2021. This presentation is not and shall not be construed as an offer to purchase or sell, or the solicitation of an offer to purchase or sell any securities of KKR & Co. Inc. This presentation may not be distributed, referenced, quoted or linked by website, in whole or in part, except as agreed to in writing by KKR & Co. Inc.
The statements contained in this presentation are made as of the date of this presentation (other than financial figures, which are as of quarter end), unless another time is specified in relation to them, and access to this presentation at any given time shall not give rise to any implication that there has been no change in the facts set forth in this presentation since that date.
This presentation contains certain forward-looking statements pertaining to KKR, including with respect to the investment funds, vehicles and accounts managed by KKR and the insurance companies managed by Global Atlantic. Forward-looking statements relate to expectations, estimates, beliefs, projections, future plans and strategies, anticipated events or trends and similar expressions concerning matters that are not historical facts. You can identify these forward-looking statements by the use of words such as "outlook," "believe," "think," "expect," "potential," "continue," "may," "should," "seek," "approximately," "predict," "intend," "will," "plan," "estimate," "anticipate," the negative version of these words, other comparable words or other statements that do not relate strictly to historical or factual matters. These forward-looking statements are based on KKR's beliefs, assumptions and expectations, but these beliefs, assumptions and expectations can change as a result of many possible events or factors, not all of which are known to KKR or within its control. Due to various risks and uncertainties, actual events or results may differ materially from those reflected or contemplated in such forward-looking statements. Past performance is no guarantee of future results. All forward-looking statements speak only as of the date of this presentation. KKR does not undertake any obligation to update any forward-looking statements to reflect circumstances or events that occur after the date of this presentation except as required by law. Please see the Appendix for additional important information about forward looking statements, including the assumptions and risks concerning projections and estimates of future performance.
This presentation includes certain non-GAAP financial measures. These non-GAAP measures are in addition to, and not a substitute for, measures of financial performance prepared in accordance with U.S. GAAP and may have important limitations as analytical tools, because they may exclude items that may be significant in understanding and analyzing our financial results. In addition, these measures are defined or calculated differently by different companies in our industry and, accordingly, investors should use caution when considering the measures used in this presentation compared to similarly titled measures of other companies. Please see the Appendix for additional important information about the non-GAAP measures presented herein and a reconciliation of non- GAAP measures to comparable GAAP measures.
Please see the Appendix for other important information. In addition, information about factors affecting KKR, including a description of risks that should be considered when making a decision to purchase or sell any securities of KKR & Co. Inc., can be found in KKR & Co. Inc.'s Annual Report on Form 10-K for the fiscal year ended December 31, 2020, filed with the SEC on February 19, 2021 and its other filings with the SEC, which are available at www.sec.gov.
Contact Information
Investor Relations | Media |
Craig Larson | Kristi Huller |
Phone: +1 (877) 610-4910 in U.S. / +1 (212) 230-9410 | Phone: +1 (212) 750-8300 |
investor-relations@kkr.com | media@kkr.com |
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KKR & Co. Inc.
Second Quarter Earnings
KKR's Second Quarter 2021 GAAP Results (Unaudited)
- GAAP Net Income Attributable to KKR & Co. Inc. Common Stockholders was $1.3 billion in the quarter. GAAP Stockholders' Equity Per Outstanding Share of Common Stock was $25.39 at quarter end
($ in thousands, except per share data) | 2Q'20 | 2Q'21 | 2Q'20 YTD | 2Q'21 YTD | ||||||
Revenues | ||||||||||
Asset Management | $ | 1,331,994 | $ | 2,200,919 | $ | 330,489 | $ | 5,378,877 | ||
Insurance | - | 935,262 | - | 2,320,310 | ||||||
Total Revenues | $ | 1,331,994 | $ | 3,136,181 | $ | 330,489 | $ | 7,699,187 | ||
Expenses | ||||||||||
Asset Management | 757,068 | 1,355,370 | 660,376 | 2,844,364 | ||||||
Insurance | - | 636,342 | - | 2,243,893 | ||||||
Total Expenses | $ | 757,068 | $ | 1,991,712 | $ | 660,376 | $ | 5,088,257 | ||
Total Investment Income (Loss) - Asset Management | $ | 1,582,503 | $ | 3,462,072 | $ | (2,101,316) | $ | 6,349,717 | ||
Income Tax Expense (Benefit) | 206,264 | 343,667 | (154,415) | 782,406 | ||||||
Redeemable Noncontrolling Interests | - | 1,337 | - | 1,337 | ||||||
Noncontrolling Interests | 1,244,196 | 2,946,262 | (1,703,233) | 5,191,793 | ||||||
Preferred Stock Dividends | 8,341 | 37,603 | 16,682 | 63,194 | ||||||
Net Income - KKR Common Stockholders | $ | 698,628 | $ | 1,277,672 | $ | (590,237) | $ | 2,921,917 | ||
Net Income (Loss) Attributable to KKR & Co. Inc. Per Share of Common Stock | ||||||||||
Basic | $ | 1.25 | $ | 2.19 | $ | (1.06) | $ | 5.04 | ||
Diluted | $ | 1.24 | $ | 2.05 | $ | (1.06) | $ | 4.73 | ||
Weighted Average Shares of Common Stock Outstanding | ||||||||||
Basic | 558,774,162 | 582,398,367 | 558,961,992 | 579,578,831 | ||||||
Diluted | 565,611,138 | 630,390,360 | 558,961,992 | 625,668,629 | ||||||
4Q'20 | 2Q'21 | |||||||||
KKR & Co. Inc. Stockholders' Equity Per Outstanding Share of Common Stock | $ | 21.15 | $ | 25.39 | ||||||
Note: | All figures in this presentation are as of June 30, 2021, unless otherwise specifically indicated. Results for the six months ended June 30, 2021 only | |||||||||
include the results of Global Atlantic for the five months beginning on February 1, 2021; comparability to prior and future periods may be limited. See | ||||||||||
Appendix for GAAP income statement and GAAP balance sheet. Totals may not add due to rounding. |
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KKR & Co. Inc. published this content on 03 August 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 03 August 2021 11:02:14 UTC.