Q3 25 EPS
$0.22
MISS 0.63%
Est. $0.22
Q3 25 Revenue
$728.0M
BEAT +6.88%
Est. $681.1M
vs S&P Since Q3 25
-48.5%
TRAILING MARKET
OWL -38.3% vs S&P +10.2%
Market Reaction
Did OWL Beat Earnings? Q3 2025 Results
Blue Owl Capital delivered a mixed but broadly constructive third quarter for fiscal 2025, posting revenue of $727.99 million, a 21.1% year-over-year gain that cleared the $681.14 million consensus estimate by 6.88%, while distributable earnings of $… Read more Blue Owl Capital delivered a mixed but broadly constructive third quarter for fiscal 2025, posting revenue of $727.99 million, a 21.1% year-over-year gain that cleared the $681.14 million consensus estimate by 6.88%, while distributable earnings of $0.22 per adjusted share fell just short of the $0.22 consensus. The top-line strength was anchored by a 23% surge in management fees to $645.65 million, though GAAP net income attributable to the firm collapsed 79% to $6.31 million as expenses tied to the January 2025 IPI Partners acquisition, including a 49% jump in G&A costs and a 35% rise in intangible amortization, weighed heavily on reported results. On the capital formation front, Blue Owl set a record with $14.40 billion in new commitments during the quarter and $57.00 billion over the trailing twelve months, pushing total AUM to $295.60 billion, up 26% year-over-year. Looking ahead, $28.40 billion in fee-free AUM represents roughly $361 million in future annual management fees, and a newly announced digital infrastructure partnership with the Qatar Investment Authority, with a first close targeted before year-end, signals continued platform expansion.
Key Takeaways
- • Record fundraising with $14.4 billion in new capital commitments in Q3 and $57 billion over last twelve months
- • Strong interest across institutional, private wealth, and insurance clients
- • IPI Partners acquisition driving Real Assets AUM growth of 69% YoY
- • 18th consecutive quarter of both FRE management fees and FRE sequential growth
- • Direct lending originations of $10.9 billion during the quarter
- • 86% of FRE management fees generated from permanent capital
OWL YoY Financials
Q3 2025 vs Q3 2024, source: SEC Filings
OWL Revenue by Segment
With YoY comparisons, source: SEC Filings
“Blue Owl's results for the third quarter reflect the ongoing strength of our business momentum, underpinned by another record for both fundraising and financial results on a twelve-month basis. New capital commitments reached $14 billion in the third quarter and $57 billion over the last twelve months, highlighting strong interest in our strategies across institutional, private wealth, and insurance clients.”
— Doug Ostrover, Q3 2025 Earnings Press Release
OWL Earnings Trends
OWL vs Market 30 Day Price Reactions
30-day stock return vs benchmark after each earnings
OWL EPS Trend
Earnings per share: estimate vs actual
OWL Revenue Trend
Quarterly revenue: estimate vs actual
OWL Quarterly Results
5 quarters of earnings data
| Quarter | EPS Est. | EPS Act. | Surprise | Revenue | Rev. Surprise |
|---|---|---|---|---|---|
| Q1 26 BEAT | $0.18 | $0.19 | +5.26% | $753.8M | +8.84% |
| Q4 25 BEAT FY | $0.22 | $0.24 | +6.76% | $755.6M | +7.84% |
| FY Full Year | $0.82 | $0.84 | +2.29% | $2.87B | +7.74% |
| Q3 25 MISS | $0.22 | $0.22 | -0.63% | $728.0M | +6.88% |
| Q2 25 BEAT | $0.21 | $0.21 | +1.89% | $703.1M | +10.23% |
| Q1 25 MISS | $0.18 | $0.17 | -7.76% | $683.5M | +8.97% |