Is BX's Q4 2024 EPS growth sustainable?

Blackstone's (BX) Q4 2024 EPS growth appears to be supported by several factors, suggesting it could be sustainable:

1. **Strong Financial Performance**: Blackstone reported a GAAP net income of $1.3 billion for Q4 2024, with distributable earnings of $2.2 billion or $1.69 per common share. This indicates a robust profitability period.
2. **Inflows and Asset Management Growth**: The company saw significant inflows, with $28 billion in private wealth and over $100 billion in credit and insurance, reflecting strong investor confidence. This influx of capital can support future earnings growth.
3. **Realization Activities**: Blackstone expects profits from deal exits to be solid in Q4 2024, with preliminary estimates of revenues from realization activities exceeding $775 million. This suggests a strong potential for earnings growth from exiting deals.
4. **Strategic Initiatives**: Blackstone's strategic initiatives, such as the acquisition of AirTrunk, indicate a forward-looking growth strategy that could contribute to long-term earnings sustainability.
5. **Market Position and Outlook**: Blackstone's market position as a leading alternative asset manager, combined with a positive outlook for continued growth and increased fee-related earnings in Q4 2024, supports the idea of sustainable EPS growth.

However, it's important to note that while these factors suggest sustainability, market conditions, economic cycles, and other external factors can impact future earnings. Therefore, while the current indicators are positive, they should be monitored closely for any changes that could affect the sustainability of BX's Q4 2024 EPS growth.