Equity Profile

BX

Blackstone Inc.

FinancialsAsset Management & Custody Banks$112.1B

Aug6Thu

Pre-Earnings Brief

UpcomingQ2-2026Pre-Market9:00 AM EDT

Company Snapshot

Blackstone Inc. is a leading global investment firm that specializes in asset management and custody banking....

Key Metrics to Watch

Earnings Per Share (EPS)

EPS is a key indicator of profitability and will help gauge how well Blackstone is managing its investments.

N/A

Assets Under Management (AUM)

AUM reflects the total market value of assets that Blackstone manages, which is critical for understanding its revenue potential.

N/A

1 more metrics, Wall Street expectations, options signals, track record, and call prep available with Pro.

BX Q2-2026 Earnings Preview

Context

Company Snapshot

Blackstone Inc. is a leading global investment firm that specializes in asset management and custody banking. With a market cap of $112 billion, it plays a crucial role in managing investments across various sectors, including real estate, private equity, and credit. The company's performance is often influenced by market conditions and investor sentiment, making it an important player in the financial sector.

Earnings Scorecard·Last 8Q

EPS Beat Streak

EPS Beat Rate

13%

Avg EPS Surprise

-26.70%

Avg Stock Reaction

-0.60%

Last Quarter Recap

In Q1 2026, Blackstone reported an EPS of $0.83, significantly missing estimates of $1.35, leading to a 5.70% drop in stock price the following day. This trend of missing earnings expectations has raised concerns among investors about the company's ability to generate consistent profits.

Management Promises & Guidance

Focus on improving investment performance.
Commitment to enhancing asset management strategies.
Plans to diversify investment portfolios.

Expectations

Wall Street Expectations

Overall, expectations for Blackstone's upcoming earnings are cautious, given the recent history of EPS misses. Investors are looking for signs of recovery in investment performance and management's strategy moving forward.

Bull Case

If Blackstone can demonstrate improved investment performance and better-than-expected EPS, it could restore investor confidence and lead to a positive stock reaction.

Bear Case

Conversely, continued underperformance in earnings and lack of clear guidance could further erode investor trust and lead to a decline in stock price.

Expectations

Two Questions That Matter

The print will turn on these two things.

What will be the reported EPS for Q2-2026?

Given the significant misses in the past quarters, the EPS figure will be critical in determining market sentiment and stock performance.

How has Blackstone's AUM changed in the last quarter?

A change in AUM will indicate the company's ability to attract and retain investors, which is vital for future revenue growth.

Edge

What the Street Is Missing

Why consensus could be wrong

The Street may be underestimating Blackstone's potential for recovery in investment performance, given recent strategic shifts in asset management.

Supporting Evidence

Blackstone has a history of bouncing back from earnings misses, suggesting resilience.

Options pricing indicates a potential for movement, reflecting uncertainty that could swing positively.

Management's focus on diversifying investments could lead to improved performance not yet reflected in analyst estimates.

Key Risk

If AUM shows significant growth, it could challenge the current bearish sentiment.

Edge

Thesis-Break Levels

Pre-commit to what would confirm each case.

This quarter is pivotal as it follows a series of disappointing earnings, and investors are keen to see if Blackstone can regain its footing.

Bull Confirmed If

An EPS of $1.00 or higher would confirm the bull case and suggest a turnaround in performance.

Bear Confirmed If

An EPS below $0.80 would reinforce the bear case and likely lead to further stock declines.

Pre-Earnings Positioning

Options Market

Implied Move

±3.7%

Historical Avg

±3.5%

In line with history

The options market is pricing in a potential move of about 3.7%, indicating that traders expect volatility around the earnings report.

Options are pricing ±3.7% while BX has averaged ±3.5% over the last 8 prints — setup is roughly in line with history.

Detail

ATM IV

0.5%

30d HV

32.7%

Calls (580K)P/C Ratio: 1.25Puts (1.4M)

Preparation

Post-Print Playbook

Likely market behavior by outcome — not investment advice.

Beat & Raise

If Blackstone beats EPS expectations, history suggests a potential stock increase of around 6.27%, confirming a positive turnaround narrative.

In-Line / Cautious

If results are in line with expectations, the stock may see a muted reaction, reflecting ongoing investor caution.

Miss

A miss could lead to a decline of approximately 1.58%, further damaging investor confidence.

Earnings Track Record

Preparation

What to Listen For

Call Prep

1Any updates on the performance of key investment segments.
2Management's outlook on market conditions and their impact on AUM.
3Details on new investment strategies or partnerships.
4Insights into cost management and operational efficiency.
5Responses to analyst questions regarding past earnings misses.

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Company Snapshot

Blackstone Inc. is a leading global investment firm that specializes in asset management and custody banking....

Key Metrics to Watch

Earnings Per Share (EPS)

EPS is a key indicator of profitability and will help gauge how well Blackstone is managing its investments.

N/A

Assets Under Management (AUM)

AUM reflects the total market value of assets that Blackstone manages, which is critical for understanding its revenue potential.

N/A

1 more metrics, Wall Street expectations, options signals, track record, and call prep available with Pro.

BX Q2-2026 Earnings Preview

Context

Company Snapshot

Earnings Scorecard·Last 8Q

EPS Beat Streak

EPS Beat Rate

13%

Avg EPS Surprise

-26.70%

Avg Stock Reaction

-0.60%

Last Quarter Recap

Management Promises & Guidance

Focus on improving investment performance.
Commitment to enhancing asset management strategies.
Plans to diversify investment portfolios.

Expectations

Wall Street Expectations

Bull Case

If Blackstone can demonstrate improved investment performance and better-than-expected EPS, it could restore investor confidence and lead to a positive stock reaction.

Bear Case

Conversely, continued underperformance in earnings and lack of clear guidance could further erode investor trust and lead to a decline in stock price.

Expectations

Two Questions That Matter

The print will turn on these two things.

What will be the reported EPS for Q2-2026?

Given the significant misses in the past quarters, the EPS figure will be critical in determining market sentiment and stock performance.

How has Blackstone's AUM changed in the last quarter?

A change in AUM will indicate the company's ability to attract and retain investors, which is vital for future revenue growth.

Edge

What the Street Is Missing

Why consensus could be wrong

The Street may be underestimating Blackstone's potential for recovery in investment performance, given recent strategic shifts in asset management.

Supporting Evidence

Blackstone has a history of bouncing back from earnings misses, suggesting resilience.

Options pricing indicates a potential for movement, reflecting uncertainty that could swing positively.

Management's focus on diversifying investments could lead to improved performance not yet reflected in analyst estimates.

Key Risk

If AUM shows significant growth, it could challenge the current bearish sentiment.

Edge

Thesis-Break Levels

Pre-commit to what would confirm each case.

This quarter is pivotal as it follows a series of disappointing earnings, and investors are keen to see if Blackstone can regain its footing.

Bull Confirmed If

An EPS of $1.00 or higher would confirm the bull case and suggest a turnaround in performance.

Bear Confirmed If

An EPS below $0.80 would reinforce the bear case and likely lead to further stock declines.

Pre-Earnings Positioning

Options Market

Implied Move

±3.7%

Historical Avg

±3.5%

In line with history

The options market is pricing in a potential move of about 3.7%, indicating that traders expect volatility around the earnings report.

Options are pricing ±3.7% while BX has averaged ±3.5% over the last 8 prints — setup is roughly in line with history.

Detail

ATM IV

0.5%

30d HV

32.7%

Calls (580K)P/C Ratio: 1.25Puts (1.4M)

Preparation

Post-Print Playbook

Likely market behavior by outcome — not investment advice.

Beat & Raise

If Blackstone beats EPS expectations, history suggests a potential stock increase of around 6.27%, confirming a positive turnaround narrative.

In-Line / Cautious

If results are in line with expectations, the stock may see a muted reaction, reflecting ongoing investor caution.

Miss

A miss could lead to a decline of approximately 1.58%, further damaging investor confidence.

Earnings Track Record

Preparation

What to Listen For

Call Prep

1Any updates on the performance of key investment segments.
2Management's outlook on market conditions and their impact on AUM.
3Details on new investment strategies or partnerships.
4Insights into cost management and operational efficiency.
5Responses to analyst questions regarding past earnings misses.