Q3 26 EPS
$0.65
BEAT +4.70%
Est. $0.62
Q3 26 Revenue
$586.5M
BEAT +48.51%
Est. $394.9M
vs S&P Since Q3 26
-37.8%
TRAILING MARKET
STEP -30.0% vs S&P +7.8%
Market Reaction
Did STEP Beat Earnings? Q3 2026 Results
StepStone Group delivered a strong fiscal third-quarter 2026 result, with adjusted earnings per share of $0.65 beating the $0.62 consensus estimate by 4.70%, while revenue of $586.51 million topped expectations of $394.92 million by 48.51% and surged… Read more StepStone Group delivered a strong fiscal third-quarter 2026 result, with adjusted earnings per share of $0.65 beating the $0.62 consensus estimate by 4.70%, while revenue of $586.51 million topped expectations of $394.92 million by 48.51% and surged 73.0% year over year. The primary engine behind the beat was a dramatic acceleration in performance fees, which reached $346.58 million for the quarter compared to $148.18 million a year earlier, as gross realized performance fees alone jumped to $253.37 million from just $52.07 million in the prior-year period. Management and advisory fees also contributed meaningfully, growing 26% year over year to $239.93 million, underpinned by fee-earning AUM that expanded 21% to $138.6 billion. Total AUM reached approximately $219.8 billion, up 23% year over year, reflecting continued fundraising momentum including growing traction in private wealth channels, where the firm has been actively expanding its international distribution reach. On a GAAP basis, the company reported a net loss attributable to StepStone of $123.45 million, narrower than the $287.16 million loss posted a year ago. The board declared a quarterly dividend of $0.28 per Class A share.
Key Takeaways
- • Total performance fees surged 134% year-over-year to $346.6 million
- • Gross realized performance fees increased 387% to $253.4 million
- • Management and advisory fees grew 26% year-over-year
- • Fee-earning AUM grew 21% to $138.6 billion
- • Total AUM grew 23% to $219.8 billion
- • Total capital responsibility reached approximately $811 billion, up 16%
- • Focused commingled fund fee revenues grew 36% year-over-year
STEP YoY Financials
Q3 2026 vs Q3 2025, source: SEC Filings
STEP Revenue by Segment
With YoY comparisons, source: SEC Filings
STEP Earnings Trends
STEP vs Market 30 Day Price Reactions
30-day stock return vs benchmark after each earnings
STEP EPS Trend
Earnings per share: estimate vs actual
STEP Revenue Trend
Quarterly revenue: estimate vs actual
STEP Quarterly Results
5 quarters of earnings data
| Quarter | EPS Est. | EPS Act. | Surprise | Revenue | Rev. Surprise |
|---|---|---|---|---|---|
| Q4 26 BEAT FY | $0.50 | $0.57 | +13.46% | $588.6M | +101.49% |
| FY Full Year | $2.09 | $2.16 | +3.29% | $1.99B | +57.83% |
| Q3 26 BEAT | $0.62 | $0.65 | +4.70% | $586.5M | +48.51% |
| Q2 26 BEAT | $0.49 | $0.54 | +10.61% | $454.2M | +66.90% |
| Q1 26 MISS | $0.43 | $0.40 | -5.95% | $364.3M | +52.77% |
| Q4 25 BEAT FY | $0.44 | $0.68 | +52.88% | $377.7M | +64.68% |
| FY Full Year | $1.81 | $2.05 | +13.15% | $1.17B | +30.39% |