10-Q · May 7, 2026
GCM Grosvenor reported Q1 2026 earnings with revenues of $124.8 million, slightly below the estimated $130.5 million, but achieved EPS of $0.18, surpassing the estimate of $0.17. Management fees increased due to strong…
Earnings analysis · 10-Q
GCMG earnings analysis
Filed August 10, 2026 · Our reading of the company's report
The latest report
Q2 2026 revenue of $134.339 million and diluted EPS of $0.19 increased sequentially and year over year, with EPS exceeding the $0.18 consensus estimate. The filing provides no segment, margin, operating cash flow, free…
Read full summary
Q2 2026 revenue of $134.339 million and diluted EPS of $0.19 increased sequentially and year over year, with EPS exceeding the $0.18 consensus estimate. The filing provides no segment, margin, operating cash flow, free cash flow, or quantitative forward guidance disclosures in the supplied text. The principal new disclosure is an expanded AI risk factor, while interest-rate sensitivity remains material at an estimated $3.6 million of incremental annual interest expense per 100 basis points of higher SOFR.
Gross and operating margin
How much of each revenue dollar the business keeps.
One point per quarterly or annual filing. Both margins are shares of that report's revenue.
How we read each report
Our analysis across the last few reports.
Our model's reading of each filing, not the share price or the market's reaction. Annual and quarterly reports each occupy one position.
Reported figures
- Earnings per share
- $0.19
What stood out
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Revenue and EPS improved
Q2 2026 revenue was $134.339 million, up 7.5% from $125 million in Q1 2026 and approximately 12.0% from $120 million in Q2 2025. Reported diluted EPS was $0.19 versus $0.06 in Q1 2026 and $0.05 in Q2 2025, and exceeded the $0.18 consensus estimate.
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Share repurchases continued
The company repurchased 203,807 Class A shares during June 2026 at an average price of $10.74 per share. As of June 30, 2026, $55.0 million remained available under the repurchase plan.
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Interest-rate sensitivity quantified
Management estimated that a 100-basis-point increase in SOFR would increase interest expense by $3.6 million over the next 12 months, based on the floating-rate component of the Senior Loan.
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Controls remained effective
Management concluded that disclosure controls and procedures were effective at the reasonable assurance level as of June 30, 2026, with no changes in internal controls that materially affected or were reasonably likely to materially affect reporting controls.
What to watch
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Expanded artificial-intelligence risk
The 10-Q adds an AI-related risk factor covering service outages, cyberattacks, vendor failure, inaccurate outputs, regulatory sanctions, litigation, and client-data exposure as the company expands AI use across legal, compliance, client-services, and administrative functions.
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Floating-rate debt exposure
A 100-basis-point increase in SOFR is estimated to add $3.6 million to interest expense over the next 12 months, creating sensitivity to higher floating-rate borrowing costs.
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Repurchase authorization declined
Only $55.0 million remained available under the repurchase plan at June 30, 2026, down from $72.1 million shown at April 30 and May 31 after the June repurchase activity, limiting remaining buyback capacity.
Management's outlook
The 10-Q does not provide quantitative revenue or EPS guidance. It states there were no material changes in market risks during the three months ended June 30, 2026.
Earlier filings 4
10-K · February 19, 2026
GCM Grosvenor reported strong 2025 results driven by higher management and incentive fees, AUM growth and improved operating leverage. Total operating revenues rose to $557.6M and operating income nearly doubled to…
10-Q · November 5, 2025
GCM Grosvenor reported Q3 2025 revenue of $134,967,000, up from $122,931,000 a year ago, with operating income rising to $44,174,000 (operating margin ~32.7%) and diluted EPS of $0.16 (vs $0.03 in Q3 2024). Balance…
10-Q · August 7, 2025
GCM Grosvenor reported Q2 revenue of $119,657,000, up from $116,954,000 a year ago, while operating income fell to $19,245,000 from $20,835,000 and operating margin declined to 16.1% from 17.8%. Net income attributable…
This is our reading of a public filing, not the filing itself. Analysis can contain errors; check the source document for full context.