4 months ago
Key Takeaways
- The Carlyle Group reported second-quarter distributable income fell astir 12% year-over-year.
- Fee-related income grew but wasn't capable to offset different declines.
- The patient besides announced nan astir $3 cardinal waste of natural-gas shaper Cogentrix Energy to Quantum Capital Group.
Shares of The Carlyle Group (CG) dropped successful intraday trading Monday aft nan private-equity patient reported lower-than-expected distributable net (DE).
The institution reported second-quarter DE of $343.2 million, aliases 78 cents per share, down almost 12% year-over-year and beneath expectations of $364.5 million, aliases 83 cents per share.
Separately, Carlyle besides announced plans to waste natural-gas shaper Cogentrix Energy to Quantum Capital Group for astir $3 billion.
Shares of Carlyle declined 6.4% to $41.40 arsenic of 1:45 p.m. ET Monday. They are down astir 17% successful nan past 3 sessions.
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