Blue Owl Capital Inc. First Quarter 2024 Results

Rhea-AI Summary

Blue Owl Capital Inc. (NYSE:OWL) reported strong financial results for the first quarter of 2024, highlighted by consistent growth in management fees and expanding investment solutions. The company declared a quarterly dividend of $0.18 per Class A Share and announced two accretive transactions to enhance insurance asset management and real estate credit capabilities. Investors showed significant interest in Blue Owl's strategies, reflecting a positive outlook for future growth.

Positive

• Consistent growth in management fees for 12 consecutive quarters.

• Expansion of investment solutions to include insurance asset management and real estate credit capabilities.

• Declared a quarterly dividend of $0.18 per Class A Share.

• Robust investor interest in Blue Owl's strategies across Institutional and Private Wealth investors.

Negative

• None.

Insights

Financial Analyst

Blue Owl Capital Inc.'s announcement of a steady increase in management fees for 12 consecutive quarters is of notable importance to investors, signaling potential for sustainable revenue growth, particularly in the realm of asset management. Their mention of stability and predictability in their business model suggests resilience to economic volatility, an attractive quality during uncertain market conditions. Their recent move to expand their investment solutions via acquisitions in insurance asset management and real estate credit could spell a diversification strategy aimed at capturing new market segments. This can be a double-edged sword; while diversification can reduce risk and open up new revenue streams, it also requires effective integration and could carry hidden costs. The declared dividend of $0.18 per Class A share is in line with shareholder return strategies, reinforcing the message of stability and predictability. The long-term implications of this expansion strategy and consistent dividends will be of particular interest as they reflect management's confidence in future earnings and growth.

Market Analyst

The emphasis on 'significant investor interest' points to a healthy demand for Blue Owl's strategies from both Institutional and Private Wealth investors. This interest could translate to a steady influx of capital, bolstering the firm’s assets under management – a critical metric in the asset management sector. The ability of Blue Owl to execute accretive transactions is noteworthy as it indicates transactions that are expected to increase per-share earnings, a positive signal for earnings growth. However, the actual impact on the company's balance sheet and earnings per share will depend on the successful integration and management of these new assets. From the market perspective, the growth potential in the insurance asset management and real estate credit markets mentioned may be driven by macroeconomic factors such as low-interest rates and a search for yield, which could be subject to shifts in economic policy and market sentiment. Monitoring how these sectors perform in varying economic climates would provide a clearer picture of the durability of this expansion's potential impact on future earnings.

NEW YORK, May 2, 2024 /PRNewswire/ -- Blue Owl Capital Inc. (NYSE:OWL) ("Blue Owl") today reported its financial results for the first quarter ended March 31, 2024.

"Blue Owl reported another strong quarter of growth, with our 12th consecutive quarter of higher management fees through an evolving and volatile economic landscape. We again demonstrated the predictability and stability inherent in our business model, as well as the ongoing and significant investor interest in our strategies across Institutional and Private Wealth investors," said Doug Ostrover and Marc Lipschultz, Co-CEOs of Blue Owl. "In addition to the robust strides we are making in further scaling our existing businesses, we continue to broaden our suite of investment solutions. We recently announced two accretive transactions that are intended to expand our insurance asset management and real estate credit capabilities, two very significant markets where we see meaningful runway for growth over time."

Blue Owl issued its full detailed presentation of its first quarter ended March 31, 2024 results, which can be viewed through the Investor Resources section of Blue Owl's website at https://ir.blueowl.com/Investors/events-and-presentations.  

Dividend

Blue Owl declared a quarterly dividend of $0.18 per Class A Share, payable on May 30, 2024, to shareholders of record at the close of business on May 21, 2024. 

Quarterly Investor Call Details:

Blue Owl will host its first quarter 2024 investor call via public webcast on May 2, 2024 at 10:00 a.m. ET. To register, please visit the Investor Resources section of Blue Owl's website at https://ir.blueowl.com/overview.   

The conference call may be accessed by dialing +1 (888) 330-2454 (U.S. callers) or +1 (240) 789-2714 (non-U.S. callers); conference ID 4153114. For those unable to listen to the live broadcast, there will be a webcast replay available on the Investor Resources section of Blue Owl's website.

All callers will need to enter the Conference ID followed by the # sign and reference "Blue Owl Capital" once connected with the operator. All callers are asked to dial in 10-15 minutes prior to the call so that name and company information can be collected.

About Blue Owl

Blue Owl (NYSE: OWL) is a leading asset manager that is redefining alternatives.

With over $174 billion in assets under management as of March 31, 2024, we invest across three multi-strategy platforms: Credit, GP Strategic Capital, and Real Estate. Anchored by a strong permanent capital base, we provide businesses with private capital solutions to drive long-term growth and offer institutional and individual investors differentiated alternative investment opportunities that aim to deliver strong performance, risk-adjusted returns, and capital preservation.

Together with over 725 experienced professionals, Blue Owl brings the vision and discipline to create the exceptional. To learn more, visit www.blueowl.com.  

Forward Looking Statements

Certain statements made in this release are "forward looking statements" within the meaning of the "safe harbor" provisions of the United States Private Securities Litigation Reform Act of 1995. When used in this press release, the words "estimates," "projected," "expects," "anticipates," "forecasts," "plans," "intends," "believes," "seeks," "may," "will," "would," "should," "future," "propose," "target," "goal," "objective," "outlook" and variations of these words or similar expressions (or the negative versions of such words or expressions) are intended to identify forward-looking statements. Any such forward-looking statements are made pursuant to the safe harbor provisions available under applicable securities laws and speak only as of the date made. Blue Owl assumes no obligation to update or revise any such forward-looking statements except as required by law.

These forward-looking statements are not guarantees of future performance, conditions or results, and involve a number of known and unknown risks, uncertainties, assumptions and other important factors, many of which are outside Blue Owl's control, that could cause actual results or outcomes to differ materially from those discussed in the forward-looking statements.

Important factors, among others, that may affect actual results or outcomes include the inability to recognize the anticipated benefits of strategic acquisitions; costs related to acquisitions; the inability to maintain the listing of Blue Owl's shares on the New York Stock Exchange ("NYSE"); Blue Owl's ability to manage growth; Blue Owl's ability to execute its business plan and meet its projections; potential litigation involving Blue Owl; changes in applicable laws or regulations; and the possibility that Blue Owl may be adversely affected by other economic, business, geo-political and competitive factors.

Investor Contact
Ann Dai
Head of Investor Relations
blueowlir@blueowl.com  

Media Contact
Nick Theccanat
Principal, Corporate Communications & Government Affairs
Nick.Theccanat@blueowl.com

View original content:https://www.prnewswire.com/news-releases/blue-owl-capital-inc-first-quarter-2024-results-302133610.html

SOURCE Blue Owl Capital

FAQ

What are Blue Owl Capital Inc.'s stock symbol?

Blue Owl Capital Inc.'s stock symbol is NYSE:OWL.

When is Blue Owl Capital Inc.'s quarterly dividend payable?

Blue Owl Capital Inc.'s quarterly dividend of $0.18 per Class A Share is payable on May 30, 2024.

Where can I access Blue Owl Capital Inc.'s detailed presentation of first quarter results?

You can view Blue Owl Capital Inc.'s detailed presentation of its first quarter ended March 31, 2024 results through the Investor Resources section of Blue Owl's website at https://ir.blueowl.com/Investors/events-and-presentations.

When will Blue Owl Capital Inc. host its first quarter 2024 investor call?

Blue Owl Capital Inc. will host its first quarter 2024 investor call via public webcast on May 2, 2024 at 10:00 a.m. ET.

How can I register for Blue Owl Capital Inc.'s investor call?

To register for Blue Owl Capital Inc.'s investor call, visit the Investor Resources section of Blue Owl's website at https://ir.blueowl.com/overview.