KKR Q3 FY2026: revenue falls 17.4% as non-GAAP EPS reaches $1.78
KKR's Q3 FY2026 was a split screen: reported revenue fell 17.4% to $4.56 billion, but non-GAAP EPS rose to $1.78 and fee-related earnings reached a record $1.32 billion. Read the quarter through the fee engine, then check the GAAP bridge: net income of $1.12 billion benefited from a sharp drop in noncontrolling interests, not from top-line growth.
1 · Expected vs. Actual
Free preview belowGAAP diluted EPS was $1.19, up from $0.90, and non-GAAP EPS was $1.78. Adjusted net income was $1.65 billion, up 29% year-over-year, while GAAP net income to common stockholders was $1.12 billion. The gap between $1.78 and $1.19 is large, so readers should use the reconciliation, not the headline non-GAAP number alone.
Revenue was $4.56 billion, down 17.4% from $5.53 billion a year earlier. The drop was concentrated in insurance: insurance revenue fell to $2.80 billion from $3.78 billion, while asset management and strategic holdings revenue was $1.76 billion, up 1.0% from $1.74 billion. That mix matters because the fee-based side held up while the insurance top line and investment-related gains did not.
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Figures on this page come from the company's original SEC filings. The analysis is generated automatically and checked against validation rules, but may still contain errors or omissions. Not investment advice. · Generated 2026-11-09
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