Blue Owl Capital (OWL) Q2 2026

Q2 2026 Q1 2026 Q4 2025 Q3 2025 Q2 2025 Q1 2025

Earnings

Blue Owl Capital delivered a clean beat across both top and bottom lines in Q2 2026, with revenue of $753.05 million clearing the $687.73 million consensus by 9.50% and growing 7.1% year over year, while distributable earnings per adjusted share of $… Read more Blue Owl Capital delivered a clean beat across both top and bottom lines in Q2 2026, with revenue of $753.05 million clearing the $687.73 million consensus by 9.50% and growing 7.1% year over year, while distributable earnings per adjusted share of $0.22 edged past the $0.22 estimate by 1.76%. The clearest driver of the quarter's strength was the Real Assets platform, where AUM surged 25% year over year to $89.40 billion and segment revenue climbed 17%, powered by the firm's digital infrastructure strategy and net lease products. Total assets under management reached $319.00 billion across Blue Owl's three platforms, with $31.10 billion not yet paying fees representing roughly $380.00 million in embedded annual fee-related earnings once deployed, a pipeline management highlighted as underpinning future revenue visibility. Non-GAAP fee-related earnings grew 9% to $392.18 million with FRE margin expanding to 58.5%, even as GAAP net income attributable to Class A shareholders fell 35% to $11.39 million, weighed down by higher compensation costs and earnout liability adjustments. The company declared a quarterly dividend of $0.23 per Class A share.