TPG Inc. Q3 Fee-related Profit Rises
(RTTNews) - TPG Inc. (TPG) reported GAAP net income attributable to TPG of $15 million for the third quarter compared to $37 million, prior year. The company posted a net loss per share of Class A common stock was $0.09 compared to profit of $0.09. Fee-related earnings was $156 million, an increase of 29% year-over-year. Fee-related earnings per Class A common stock was $0.50 compared to $0.41. After-tax distributable earnings per share of Class A common stock was $0.56 compared to $0.26.
On average, 13 analysts polled by Thomson Reuters expected the company to report profit per share of $0.36, for the quarter. Analysts' estimates typically exclude special items.
Third quarter total revenues were $160.35 million compared to $561.12 million, previous year. Analysts on average had estimated $298.75 million in revenue.
Total AUM was $136 billion, up 1% in the last twelve months. Cash and cash equivalents were $647 million at the end of third quarter.
TPG has declared a quarterly dividend of $0.48 per share of Class A common stock to holders of record at the close of business on November 17, 2023, payable on December 1, 2023.
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