OWL earnings analysis
What we found in OWL's 10-Q: the parts that mattered, the offsets in the same document, and what the company said about what comes next.
Our reading of the filing · Free to read, no account needed
Blue Owl Capital Inc. reported a strong Q1 2026 performance with revenues of $753.8 million, surpassing estimates by 8.66%. The company generated diluted EPS of $0.19, slightly above the $0.18 estimate, reflecting a positive surprise of 5.56%. Notable revenue growth was noted across segments, particularly in Credit and Real Assets, while management affirmed its commitment to maintaining a quarterly dividend of $0.23 amid growing assets under management, now at $314.9 billion.
The parts that mattered.
Pulled out of the filing itself, with the figures the company reported.
- Revenue Surpassed Estimates
- Q1 2026 revenue of $753.8 million exceeded estimates by 8.66%.
- EPS Exceeds Expectations
- Diluted EPS of $0.19 surpassed the expected $0.18, reflecting a 5.56% surprise.
- Asset Under Management Growth
- Assets under management increased to $314.9 billion, a 15% year-over-year growth.
- Solid Fee-Related Earnings
- Fee-Related Earnings rose to $393.6 million, up from $345.4 million YoY.
- Stable Dividend Declaration
- Maintained quarterly dividend at $0.23, reaffirming commitment to shareholders.
- Cash Flow Improvement
- Operating cash flow surged to $102.8 million, a dramatic increase from $17.6 million YoY.
And the other side of it.
The offsets in the same document — the things a summary that only listed the good news would have left out.
- Increased Compensation Expenses
- Compensation and benefits expenses rose by $49.9 million to $375.9 million, stressing profit margins.
- Regulatory Scrutiny
- Continued compliance and regulatory costs may impact future profitability.
- Market Volatility Impact
- Geopolitical tensions may negatively affect market conditions, impacting future revenues.
What they reported.
What the company itself reported, taken out of the document.
- Earnings per share
- $0.19
- Segment
- Credit
- Segment
- Real Assets
- Segment
- GP Strategic Capital
What they said about what is next.
Outlook deferred to earnings press release / call.
The filing reads better than the one before it.
What came before.
- 10-K · February 19, 2026
- Blue Owl reports scale and fee stability (AUM $307.4B, FPAUM $187.7B as of 12/31/2025) with material top-line growth (2025 quarterly revenues sum to ~$2.87B vs ~$2.295B in 2024) and recovered free cash flow after a weak…
- 10-Q · August 1, 2025
- Blue Owl reported Q2 revenue of $703,106,000 (up modestly vs Q1 and strongly vs prior year) with Fee-Related Earnings of $358,343,000 and distributable earnings of $323,014,000. Free cash flow recovered to $412,000,000…
- 10-Q · November 6, 2024
- Blue Owl reported Q3 revenue of $600,878,000 and GAAP net income attributable of $29,805,000 for the three months ended September 30, 2024; fee-related earnings were $326,862,000 and distributable earnings were…
- 10-Q · August 1, 2024
- Blue Owl reported strong fee-driven results in Q2: Fee-Related Earnings rose to $296,475 (thousands) and Net Income attributable increased to $33,945 (thousands). AUM expanded to $192.2 billion (FPAUM $121.5 billion)…
This is our reading of a public filing, not the filing. Read the original on SEC.gov · Educational only. Nothing here is investment advice.
Read the next one first.
We read every filing OWL makes the day it lands, and put it next to what the options market did about it. Members get both, and an alert when a filing arrives.
Cancel anytime · Month to month · Switch tiers whenever