31.10.2018 11:56:40

Carlyle Group Q3 Profit Drops

(RTTNews) - The Carlyle Group L.P. (CG) reported that its net income attributable to Common Unitholders for the third quarter ended September 30, 2018 was $12 million or $0.10 per unit, compared to $45 million, or $0.43 per unit last year.

Economic Net Income per adjusted Unit was $0.25 compared to $0.56 in the prior year.

Carlyle Co-CEOs Kewsong Lee and Glenn Youngkin said, "During the third quarter, we remained on track or ahead of schedule for many of the goals we laid out for the year and we have good momentum for future growth. Global markets are growing increasingly volatile, but we believe Carlyle is well positioned to take advantage of market dislocations and opportunities."

Total revenues for the quarter grew to $679.1 million from $639.9 million last year.

Analysts polled by Thomson Reuters expected the company to report earnings of $0.51 per share and revenues of $687.28 million for the quarter. Analysts' estimates typically exclude special items.

The Board of Directors has declared a quarterly distribution of $0.42 per common unit to holders of record at the close of business on November 13, 2018, payable on November 20, 2018.

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