Home News Carlyle Group Stock Drops as Distributable Earnings Miss

Carlyle Group Stock Drops as Distributable Earnings Miss

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Key Takeaways

  • The Carlyle Group reported second-quarter distributable income fell nearly 12% year-over-year.
  • Fee-related income grew but wasn’t enough to offset other declines.
  • The firm also announced the roughly $3 billion sale of natural-gas producer Cogentrix Energy to Quantum Capital Group.

Shares of The Carlyle Group (CG) dropped in intraday trading Monday after the private-equity firm reported lower-than-expected distributable earnings (DE).

The company reported second-quarter DE of $343.2 million, or 78 cents per share, down almost 12% year-over-year and below expectations of $364.5 million, or 83 cents per share. 

Separately, Carlyle also announced plans to sell natural-gas producer Cogentrix Energy to Quantum Capital Group for about $3 billion.

Shares 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 sessions.

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