Apollo Reports Fourth Quarter and Full Year 2023 Results
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Insights
The disclosure by Apollo Global Management of its earnings growth and substantial inflows is a strong indicator of the firm's robust performance in a challenging market environment. The 25% increase in Fee and Spread Related Earnings suggests that Apollo has successfully capitalized on market opportunities while maintaining a disciplined approach to risk management. This growth in earnings is particularly noteworthy as it may signal operational efficiency and an ability to attract and deploy capital effectively. Investors would be keen to understand the drivers behind this growth, such as sector-specific investments or fee structures that may have contributed to these results.
The declaration of dividends for both Common and Mandatory Convertible Preferred Stock is a testament to Apollo's financial health and commitment to shareholder returns. However, the board's discretion and the lack of assurance for future dividends introduce an element of uncertainty. Shareholders typically look for consistent and predictable dividend policies as a sign of stability, so this caveat may warrant a closer examination of the company's long-term strategy and cash flow projections.
Apollo's announcement of nearly $160 billion in inflows is a strong performance metric that reflects investor confidence and the firm's market position. Inflows of this magnitude can significantly impact Apollo's scale of operations and its ability to pursue larger or more diversified investment opportunities. It is also indicative of the firm's competitive edge in the alternative investment management space, where attracting capital can be highly contingent on past performance and market reputation.
The emphasis on disciplined investment in the CEO's statement suggests a strategic focus that may resonate with cautious investors, especially in a volatile market. The ability to provide 'excess return per unit of risk' is a key differentiator in the asset management industry and will likely be a focal point for analysts seeking to understand Apollo's investment approach and risk-adjusted performance metrics.
The context of a volatile market backdrop in 2023, as mentioned by Apollo's CEO, highlights the importance of macroeconomic conditions on investment firms. The firm's performance amidst such volatility can be seen as a barometer for the resilience of the financial sector against economic headwinds. An economist might explore how Apollo's strategies align with broader economic trends, such as interest rate changes, inflationary pressures, or geopolitical events that could influence market dynamics. Furthermore, the ability to navigate and thrive in such conditions could be indicative of Apollo's adaptive strategies and risk management capabilities, which are crucial for long-term sustainability in the asset management industry.
NEW YORK, Feb. 08, 2024 (GLOBE NEWSWIRE) -- Apollo Global Management, Inc. (NYSE: APO) (together with its consolidated subsidiaries, “Apollo”) today reported results for the fourth quarter and full year ended December 31, 2023.
Marc Rowan, Chief Executive Officer at Apollo said, “Amid a volatile market backdrop in 2023, Apollo was firing on all cylinders. We generated exceptional results highlighted by Fee and Spread Related Earnings growth exceeding
Apollo issued a full detailed presentation of its fourth quarter and full year ended December 31, 2023 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
Apollo Global Management, Inc. has also declared and set aside for payment a cash dividend of
The declaration and payment of dividends on the Common Stock and the Mandatory Convertible Preferred 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 Thursday, February 8, 2024 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 fourth quarter and full year ended December 31, 2023.
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 to private equity with a focus on three investing strategies: yield, hybrid, and 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 December 31, 2023, Apollo had approximately
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, 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 March 1, 2023 and our quarterly report on Form 10-Q filed with the SEC on November 7, 2023, 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 or review 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
ir@apollo.com
For media inquiries please contact:
Joanna Rose
Global Head of Corporate Communications
Apollo Global Management, Inc.
212-822-0491
communications@apollo.com
FAQ
What were Apollo Global Management, Inc.'s results for the fourth quarter and full year ended December 31, 2023?
What cash dividend was declared for the fourth quarter?
When will the cash dividend for the Common Stock be paid?
What cash dividend was declared for the Mandatory Convertible Preferred Stock?
When will the cash dividend for the Mandatory Convertible Preferred Stock be paid?
When will the public audio webcast to review Apollo's financial results take place?
