:max_bytes(150000):strip_icc():format(jpeg)/GettyImages-1985818081-a0baaf7e758246ea8161a2a252085479.jpg "Harvey Schwartz, chief executive officer of Caryle Group Inc., during a Bloomberg Television interview in Washington, DC, on Feb. 7, 2024")
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Harvey Schwartz, chief executive officer of Caryle Group Inc., during a Bloomberg Television interview in Washington, DC, on Feb. 7, 2024.
Key Takeaways
- The Carlyle Classify reported second-quarter distributable income fell nearly 12% year-over-year.
- Fee-related income grew but wasn’t adequately to offset other declines.
- The firm also announced the roughly $3 billion sale of natural-gas producer Cogentrix Drive to Quantum Capital Group.
Shares of The Carlyle Group (CG) dropped in intraday trading Monday after the private-equity unwavering reported lower-than-expected distributable earnings (DE).
The company reported second-quarter DE of $343.2 million, or 78 cents per share, down nearly 12% year-over-year and below expectations of $364.5 million, or 83 cents per share.
Separately, Carlyle also heralded plans to sell natural-gas producer Cogentrix Energy to Quantum Capital Group for about $3 billion.
Portions of Carlyle declined 6.4% to $41.40 as of 1:45 p.m. ET Monday. They are down nearly 17% in the last three hearings.
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