Apollo Global Management (APO) Earnings Date & Reports

Key Takeaways

• Apollo Global Management (NYSE: APO) is scheduled to report third-quarter 2026 results on Tuesday, November 3, 2026, before the market opens.
• Wall Street consensus points to adjusted earnings per share (EPS) of roughly $2.26, compared with $2.17 in the same quarter a year earlier.
• Analysts expect segment revenues of about $1.36 billion, up roughly 18% year over year, as management and fee income keep growing.
• Investors will focus on fee-related earnings and spread-related earnings after Apollo posted record results in both measures last quarter.
• Total assets under management crossed the $1 trillion mark in Q2 2026, setting a high bar for continued capital formation.

Earnings Context and Why It Matters

Apollo Global Management has become a closely watched bellwether for private credit and retirement services through its Athene platform. In the second quarter, the firm reported record fee-related earnings (FRE) of $785 million, record spread-related earnings (SRE) of $877 million, and total assets under management (AUM) of $1.047 trillion. Yet adjusted net income (ANI) per share of $2.11 narrowly missed consensus, pressured by higher expenses. This upcoming report will test whether steady growth in management fees and spread income can overcome cost pressures — and whether Apollo can sustain the premium valuation it currently commands.

Earnings Expectations

Analysts expect Apollo to report adjusted EPS of approximately $2.26 for the third quarter, based on a consensus of roughly 16 analysts, with estimates ranging from about $2.16 to $2.36. That compares with adjusted EPS of $2.17 in Q3 2025. On the revenue side, consensus points to segment revenues near $1.36 billion, up from about $1.15 billion a year ago. It is worth noting that Apollo also reports much larger total GAAP revenues that include investment income from its insurance and investment portfolios.

Beyond the headline figures, investors will be watching three key operating metrics. First, fee-related earnings, which reflect the stability of management and advisory fees. Second, spread-related earnings from Athene, which capture the returns Apollo generates on its retirement services assets. Third, capital formation — including organic inflows and total AUM growth — which drives future fee income. In Q2, Apollo generated a record $60 billion in total inflows and grew fee-generating AUM 34% year over year to $858 billion.

AI Screener

Tickeron's AI Screener is an AI-powered stock and ETF discovery tool that helps traders and investors filter the market based on technical patterns, fundamentals, trends, volatility, and AI-driven signals. Users can scan thousands of stocks and ETFs using customizable filters such as industry, market capitalization, technical indicators, price patterns, and performance metrics. The screener helps identify trade ideas, trending stocks, breakout candidates, and market opportunities more efficiently than manual screening. For investors following names like Apollo Global Management, the AI Screener offers a streamlined way to spot comparable opportunities and emerging setups across the financial sector.

Market Reaction and Investor Sentiment

Sentiment heading into this report is cautiously optimistic. Apollo trades at a premium valuation relative to many traditional asset managers, reflecting its exposure to high-growth private credit and retirement capital. Last quarter, the modest EPS miss was partly offset by record FRE and SRE, and shares have held up reasonably well since that report. The market's reaction this time will likely hinge on whether fee-related earnings keep compounding and whether AUM and inflows remain strong — factors that underpin Apollo's long-term growth narrative and justify its elevated multiple.

Forward Outlook and Key Factors to Monitor

After the Q3 print, investors should keep a close eye on the trajectory of fee-related earnings margin, which reached 58.5% in the second quarter. Continued margin expansion would signal that Apollo is converting rising AUM into profits efficiently, while any slippage could raise questions about cost discipline.

Capital formation will be another central theme. Apollo recorded record inflows of $60 billion in Q2, with strength across both asset management and Athene. Sustaining that pace — particularly in private credit origination and retirement services — will be critical to the firm's full-year guidance and its embedded fee momentum heading into 2027.

Finally, watch Athene's net investment spread and origination volumes. In Q2, Apollo originated $74 billion of assets, and management highlighted a large pipeline of dry powder available for deployment. Combined with ongoing share repurchases and a steady quarterly dividend, these factors will shape investor confidence in Apollo's ability to keep growing earnings even as expenses rise.

Disclaimer

The information on this webpage is provided for general informational and educational purposes only and is not intended as investment advice, a recommendation to purchase or sell any security, or an offer or solicitation related to investments. It does not consider your personal financial situation, goals, or risk profile, and all investing carries inherent risks, including the possibility of losing your entire investment. For more details, please review our full disclaimer.

Disclaimers and Limitations