KKR Q2 2026 Earnings: EPS Beats by 14%, AUM Nears $800 Billion
As seen on the 24/7 Wall St. homepage on July 30, 2026.
KKR crushed expectations with record fee-related earnings of $1.21 billion, up 37% year over year, while AUM climbed 16% to nearly $800 billion and dry powder hit $143 billion ready for deployment.
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KKR reported Q2 2026 earnings per share of $1.63, topping the consensus estimate of $1.43 by roughly 14%. Revenue came in at $5.73 billion against an estimate of $2.46 billion, a beat of more than 130%. The quarter marks the firm's strongest recent showing in the eight-period history visible here, with EPS climbing from $1.39 in Q1 2026 and well above the $1.18 posted in Q2 2025.
The headline driver was fee-related earnings, which hit a record $1.21 billion, up 37% year over year. Fee-related earnings are closely watched at alternative asset managers because they reflect stable, recurring management fees rather than the lumpier carried interest tied to deal exits, so a 37% annual jump signals broad-based growth in the firm's fundraising and deployment engine.
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Assets under management rose 16% to nearly $800 billion, and dry powder — capital committed but not yet deployed — stood at $143 billion. That reserve gives KKR significant firepower to act on investments across private equity, credit, and real assets. Investors will be watching whether the firm can put that capital to work at attractive returns as deal markets evolve.