Apollo (APO) Q3 2024 Earnings Call Transcript

Motley Fool Transcribing, The Motley Fool

Tue, April 14, 2026 astatine 9:49 AM CDT 48 min read

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Nov. 5, 2024, 8:30 a.m. ET

• Chief Executive Officer — Marc Rowan

• Chief Financial Officer — Martin Kelly

• Co-President — James Zelter

• Head of Investor Relations — Noah Gunn

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Noah Gunn: Thanks, operator, and invited again, everyone, to our call. Earlier this morning, we published our net merchandise and fiscal supplement connected the Investor Relations information of our website. We reported beardown 3rd 4th fiscal results that included grounds fee-related net of $531 cardinal oregon $0.87 per share, near-record spread-related net of $856 cardinal oregon $1.40 per stock and adjusted nett income of $1.1 cardinal oregon $1.85 per share, which reached the 2nd highest level connected record. Additionally, I'd similar to instrumentality a infinitesimal to convey you each for participating successful our Investor Day past month. We were thrilled to person fantastic attendance, with implicit 3,000 radical participating unrecorded successful summation to different 54,000 who person accessed the replay since then.

Given our proximity to this broad event, today's telephone volition beryllium a shorter update. I'm joined this greeting by Marc Rowan, CEO; Jim Zelter, Co-President; and Martin Kelly, CFO. Marc and Martin volition screen prepared remarks, and Jim volition beryllium disposable for Q&A. And with that, I'll manus the telephone implicit to Marc.

Marc Rowan: Thank you, Noah, and bully morning. I privation to echo Noah's sentiment that we instrumentality thing for granted, and we profoundly admit your willingness to walk 3 to 4 hours with america connected Investor Day to genuinely excavation into the unsocial concern that we are building. Hopefully, we outlined a wide imaginativeness for our 5-year program arsenic good arsenic the upside drivers. In summary, for those who did not endure done the 3 to 4 hours, we talked astir mean yearly FRE maturation of 20% and mean yearly SRE maturation of 10%, FRE and SRE reaching $10 billion, $5 cardinal each successful 2029 and ANI much than doubling to $15 a stock by 2029. Capital procreation of $21 billion.

In short, we laid retired ambitious targets, but they're targets the absorption squad and I are afloat down and judge we tin meet. Third 4th was a coagulated commencement successful that direction. In short, everything worked. The squad made each of america look good. We volition unfastened the frozen yogurt barroom contiguous to reward the squad for that. It's 1 of the tools we joked astir connected Investor Day, but it's portion of the civilization of Apollo. Let maine walk a 2nd arsenic to however the semipermanent concern program successful the 4th subordinate to each other.