Jun 2026 (Q2 FY26) — Aug 5, 2026
The Carlyle Group Inc. Q2 FY26 — Record Results and Strong Fundraising Momentum
Read the full callCarlyle Group (CG) earnings
- Jun 2026
- Jun 2026 (Q2 FY26)
- Dec 2025
Carlyle Group earnings: last reported Wed, 5 Aug 2026, for the quarter ended Jun 2026.
Reported
The figures, each with its period
Each figure keeps its basis and period; nothing is filled in.
| Metric | Value | Change | Basis | Period | Note |
|---|---|---|---|---|---|
| Revenue | 1,124 | −28.6% YoY | Quarterly, as filed | Quarter to Jun 2026 | Revenue from operations as filed. |
| Operating margin | Operating profit / revenue | Quarter to Jun 2026 | Not in the filed figures for the quarter to jun 2026. No older figure is substituted. | ||
| Net profit | 137 | −57.1% YoY | Quarterly, as filed | Quarter to Jun 2026 | Profit after tax as filed. |
Guidance
What management said, and what became of it
13 of 14 judged targets kept · 13 open · verdicts reflect calls analysed to Jun 2026.
| Target | Original wording | Said | Latest call | Verdict |
|---|---|---|---|---|
| Realized carry from specific funds | realize carry | Mar 2026 | In the second quarter, our realized net performance revenues were driven by Japan buyout and our sixth U.S. buyout fund. | Achieved |
| Carlyle AlpInvest next vintage funds first closings | first closings | Mar 2026 | In Carlyle AlpInvest, our strong start to the year continued with another $5 billion of inflows in the second quarter, including a final close of our single asset secondary strategy, capital for our portfolio finance strategy and continued growth in our Evergreen Wealth Solutions. | On Track |
| U.S. Buyout Fund Launch | launch | Dec 2024 | Also, it's important to note that we haven't launched fundraising for the next U.S. Buyout Fund that will come later this year. | Missed |
1 of Carlyle Group Inc.'s 27 targets was missed. See which ones, and which are quietly gone. The 3 above are the free sample; 24 more targets are in the full ledger.
Claimed
- Achieved highest distributed earnings in nearly 4 years at $472 million.
- Delivered record Fee-Related Earnings (FRE) of $358 million, up 11% year-over-year.
- Reported record fee-related performance revenue and record capital markets fees.
- Net realized performance revenues increased more than fivefold from last quarter.
- Reached a record $485 billion in Assets Under Management (AUM), driven by $56 billion of inflows over the last 12 months (up 10% YoY) and $30 billion of organic inflows in H1 FY26 (a firm record).
- Returned nearly $7 billion to clients this quarter and $37 billion over the past year, with the U.S. buyout strategy returning capital at more than twice the industry average (23% of fair value over 12 months).
Qualified
Price
$36.56 +0.49% · +$0.18
Performance −36.0% 1Y
1Y: $57.14 on 17 Oct 2025 → $36.56. High $66.12 (15 Jan 2026), low $35.77 (14 Oct 2026).
- Previous close
- $36.38
- 52-week range
- $35.77 – $66.12
- One year
- −37.28%
Overview
- Symbol
- CG
- Sector
- Financials
- Exchange
- US
- Currency
- USD
Guidance
What management said, and what became of it
13 of 14 judged targets kept · 13 open · verdicts reflect calls analysed to Jun 2026.
| Target | Original wording | Said | Latest call | Verdict |
|---|---|---|---|---|
| Realized carry from specific funds | realize carry | Mar 2026 | In the second quarter, our realized net performance revenues were driven by Japan buyout and our sixth U.S. buyout fund. | Achieved |
| Carlyle AlpInvest next vintage funds first closings | first closings | Mar 2026 | In Carlyle AlpInvest, our strong start to the year continued with another $5 billion of inflows in the second quarter, including a final close of our single asset secondary strategy, capital for our portfolio finance strategy and continued growth in our Evergreen Wealth Solutions. | On Track |
| U.S. Buyout Fund Launch | launch | Dec 2024 | Also, it's important to note that we haven't launched fundraising for the next U.S. Buyout Fund that will come later this year. | Missed |
Claimed
- Achieved highest distributed earnings in nearly 4 years at $472 million.
- Delivered record Fee-Related Earnings (FRE) of $358 million, up 11% year-over-year.
- Reported record fee-related performance revenue and record capital markets fees.
- Net realized performance revenues increased more than fivefold from last quarter.
- Reached a record $485 billion in Assets Under Management (AUM), driven by $56 billion of inflows over the last 12 months (up 10% YoY) and $30 billion of organic inflows in H1 FY26 (a firm record).
- Returned nearly $7 billion to clients this quarter and $37 billion over the past year, with the U.S. buyout strategy returning capital at more than twice the industry average (23% of fair value over 12 months).
Qualified
The full ledger
Open Carlyle Group Inc.’s full ledger
A free account opens 5 company ledgers a month. All 27 tracked commitments, with each call’s wording and source.
Call summaries
Mar 2026 (Q1 FY26) — May 7, 2026
Carlyle Group Q1 FY26 — Strong FRE, Record U.S. Buyout Realizations, and High Inflows
Read the full callEvery analysed call
Carlyle Group earnings calls (CG)
Financials
What the filings say
Net profit, year on year: −57% (quarter to jun 2026 against jun 2025).
| Line item | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|
| Sales | 2,635 | 1,033 | 973 | 1,573 | 333 | 1,901 | 254 | 1,124 |
| Expenses | 1,849 | 801 | 808 | 1,179 | 370 | 1,381 | 369 | 876 |
| Interest | 30 | 30 | 28 | 28 | 30 | 38 | 39 | 38 |
| Profit before tax | 789 | 265 | 171 | 441 | 86 | 462 | -179 | 274 |
| Tax rate | 21.9% | 14.4% | 7.3% | 25.5% | −31.1% | 25.2% | 20.7% | 17.9% |
| Net profit | 596 | 211 | 130 | 320 | 1 | 358 | -132 | 137 |
| EPS ($ per share) | 1.67 | — | 0.36 | 0.89 | 0 | — | -0.37 | 0.38 |
| Line item | Dec 2018 | Dec 2019 | Dec 2020 | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|---|---|---|
| Equity capital | — | 0 | 4 | 4 | 4 | 4 | 4 | 4 |
| Reserves | — | 0 | 348 | 2,805 | 3,401 | 2,082 | 2,041 | 1,642 |
| Total liabilities | 10,078 | 10,839 | 12,715 | 15,544 | 14,582 | 15,392 | 16,756 | 22,059 |
| Fixed assets | 95 | 108 | 149 | 144 | 140 | 162 | 185 | 225 |
| Total assets | 12,914 | 13,809 | 15,645 | 21,250 | 21,403 | 21,176 | 23,104 | 29,116 |
| Line item | Dec 2018 | Dec 2019 | Dec 2020 | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|---|---|---|
| Cash from operations | -343 | 359 | -169 | 1,791 | -379 | 205 | -759 | -3,275 |
| Cash from investing | -99 | -28 | -61 | -32 | -829 | -44 | -78 | -99 |
| Cash from financing | 72 | -149 | 370 | -242 | 115 | -100 | 683 | 3,990 |
| Net cash flow | -390 | 190 | 162 | 1,486 | -1,114 | 81 | -176 | 707 |
| Capital expenditure | -31 | -28 | -61 | -41 | -41 | -67 | -78 | -99 |
| Free cash flow | -375 | 331 | -230 | 1,750 | -420 | 138 | -837 | -3,375 |
CG revenue by segment
| Segment | Q3 FY2024 | Q4 FY2024 | Q1 FY2025 | Q2 FY2025 | Q3 FY2025 | Q4 FY2025 | Q1 FY2026 | Q2 FY2026 | YoY growth latest quarter |
|---|---|---|---|---|---|---|---|---|---|
| Global Private Equity | 21% | 90% | 65% | 36% | 91% | 34% | 115% | 50% | -0.9% |
| Global Credit | 8% | 29% | 26% | 17% | 60% | 20% | 89% | 32% | +37.8% |
| Carlyle Alp Invest | — | — | 15% | 9% | 46% | 11% | 49% | 16% | +22.7% |
Share of consolidated revenue by quarter. Q4 is the fiscal year less its first three quarters.
See how segments are shifting across companies → Segment Shift
CG operating KPIs by quarter
| KPI | Mar 2026 Q1 FY26 | Jun 2026 Q2 FY26 | Change vs prior quarter |
|---|---|---|---|
| Assets under management (AUM) Evergreen wealth strategies | $19BFee-related performance revenues of $45 million in the quarter were 15% higher year-over-year, driven by growth in our Evergreen wealth strategies, where AUM now stands at $19 billion.Source: earnings call transcript | $20BWe generated over $7 billion in gross sales across Evergreen Wealth over the past year, driving AUM in the strategies to a record $20 billion.Source: earnings call transcript | +5.3% |
Operating figures the company stated on at least two of the calls shown, checked against each call's transcript. Click a figure to read the sentence. A dash means it was not stated that quarter.
Insider filings
88 filings between Nov 19, 2025 and Sep 11, 2026.
Open market
decisions to buy or sellPurchases
None
No insider bought shares.
Sales
$75.78M
3 sales by 1 insider
Compensation
not trading decisions- 57
- Award — granted as compensation
- 23
- Tax withheld — shares kept back by the company to cover tax
Also filed: 5 gifts.
Who traded
open market only| Insider | Bought | Sold | Last filing |
|---|---|---|---|
| Rubenstein David M. | — | $75.78M | Sep 11, 2026 |
Latest filings (50)
| Date | Insider | What | Shares | Value |
|---|---|---|---|---|
| Sep 11, 2026 | Rubenstein David M. Director | Gift | 100,000 | $0 |
| Sep 11, 2026 | Rubenstein David M. Director | Sale | 400,000 | $17.10M |
| Aug 26, 2026 | Nedelman Jeffrey Co-President | Award | 6,615 | $0 |
| Aug 26, 2026 | Andrews Charles Elliott Jr. Chief Accounting Officer | Award | 304 | $0 |
| Aug 26, 2026 | Heinzelman Kate Elizabeth General Counsel | Award | 78 | $0 |
| Aug 26, 2026 | LoBue Lindsay Chief Operating Officer | Award | 2,657 | $0 |
| Aug 26, 2026 | Plouffe Justin Chief Financial Officer | Award | 3,769 | $0 |
| Aug 26, 2026 | Jenkins Mark David Co-President | Award | 6,264 | $0 |
| Aug 26, 2026 | SCHWARTZ HARVEY M Chief Executive Officer | Award | 19,240 | $0 |
| Aug 26, 2026 | Redett John C. Co-President | Award | 8,302 | $0 |
| Aug 1, 2026 | Nedelman Jeffrey Co-President | Tax withheld | 43,081 | $1.98M |
| Aug 1, 2026 | Plouffe Justin Chief Financial Officer | Tax withheld | 62,533 | $2.88M |
| Aug 1, 2026 | Andrews Charles Elliott Jr. Chief Accounting Officer | Tax withheld | 12,364 | $569.0K |
| Aug 1, 2026 | Jenkins Mark David Co-President | Tax withheld | 124,793 | $5.74M |
| Aug 1, 2026 | Redett John C. Co-President | Tax withheld | 124,558 | $5.73M |
| Aug 1, 2026 | Heinzelman Kate Elizabeth General Counsel | Award | 11,031 | $0 |
| Aug 1, 2026 | LoBue Lindsay Chief Operating Officer | Tax withheld | 18,284 | $841.4K |
| May 28, 2026 | Jenkins Mark David Co-President | Award | 7,634 | $0 |
| May 28, 2026 | Plouffe Justin Chief Financial Officer | Award | 4,077 | $0 |
| May 28, 2026 | Redett John C. Co-President | Award | 10,830 | $0 |
| May 28, 2026 | Andrews Charles Elliott Jr. Chief Accounting Officer | Award | 409 | $0 |
| May 28, 2026 | Nedelman Jeffrey Co-President | Award | 7,733 | $0 |
| May 28, 2026 | SCHWARTZ HARVEY M Chief Executive Officer | Award | 20,743 | $0 |
| May 28, 2026 | LoBue Lindsay Chief Operating Officer | Award | 3,120 | $0 |
| May 28, 2026 | Ferguson Jeffrey W. General Counsel | Award | 1,274 | $0 |
| May 1, 2026 | BESCHLOSS AFSANEH MASHAYEKHI Director | Award | 4,450 | $0 |
| May 1, 2026 | Cherwoo Sharda Director | Award | 4,450 | $0 |
| May 1, 2026 | HANCE JAMES H JR Director | Award | 4,450 | $0 |
| May 1, 2026 | FILLER LINDA Director | Award | 4,450 | $0 |
| May 1, 2026 | ORDAN MARK S Director | Award | 4,450 | $220.0K |
| May 1, 2026 | SHAW WILLIAM JOSEPH Director | Award | 4,450 | $0 |
| May 1, 2026 | ORDAN MARK S Director | Award | 4,450 | $0 |
| May 1, 2026 | WELTERS ANTHONY Director | Award | 4,450 | $0 |
| May 1, 2026 | FITT LAWTON W Director | Award | 4,450 | $0 |
| May 1, 2026 | Rice Derica W Director | Award | 2,933 | $145.0K |
| May 1, 2026 | Rice Derica W Director | Award | 4,450 | $0 |
| Mar 19, 2026 | Rubenstein David M. Director | Sale | 500,000 | $23.34M |
| Mar 19, 2026 | Rubenstein David M. Director | Gift | 100,000 | $0 |
| Feb 20, 2026 | Ferguson Jeffrey W. General Counsel | Award | 1,070 | $0 |
| Feb 20, 2026 | LoBue Lindsay Chief Operating Officer | Award | 2,625 | $0 |
| Feb 20, 2026 | Nedelman Jeffrey Co-President | Award | 6,507 | $0 |
| Feb 20, 2026 | Andrews Charles Elliott Jr. Chief Accounting Officer | Award | 343 | $0 |
| Feb 20, 2026 | Jenkins Mark David Co-President | Award | 6,424 | $0 |
| Feb 20, 2026 | Plouffe Justin Chief Financial Officer | Award | 3,431 | $0 |
| Feb 20, 2026 | Redett John C. Co-President | Award | 9,114 | $0 |
| Feb 20, 2026 | SCHWARTZ HARVEY M Chief Executive Officer | Award | 17,457 | $0 |
| Feb 14, 2026 | SCHWARTZ HARVEY M Chief Executive Officer | Tax withheld | 134,812 | $7.35M |
| Feb 6, 2026 | LoBue Lindsay Chief Operating Officer | Tax withheld | 75,033 | $4.16M |
| Feb 6, 2026 | Andrews Charles Elliott Jr. Chief Accounting Officer | Tax withheld | 6,354 | $352.1K |
| Feb 6, 2026 | Nedelman Jeffrey Co-President | Tax withheld | 92,352 | $5.12M |
Source: SEC Form 4 filings. Form 4 reports transactions, not the cap table — absence of filings says nothing about how much an insider owns, and a quiet window is not a signal.
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