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Did Blue Owl beat or miss consensus estimates last quarter?

What is Blue Owl's latest dividend and current dividend yield?

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What were the key takeaways from Blue Owl’s earnings call?

- **Record Fundraising**: $57 billion 12-month capital raise, 24% of prior AUM. 
- **Digital Infrastructure Dominance**: $50+ billion pipeline including $30B Meta deal, 100%+ deployment of new digital infrastructure fund. 
- **Credit Resilience**: 13bp annualized realized losses, no thematic stress. 
- **Fee Growth**: Management fees +29% YoY, Part 1 fees to grow in 2026 despite rate cuts. 
- **Strategic Focus**: Digital infrastructure, alternative credit, and real assets driving 20%+ FRE growth.

**【CEO Summary Section】**
- Blue Owl reported record Q3 2025 results with $14 billion in new capital commitments, bringing the trailing 12-month total to $57 billion (24% of AUM from a year ago). 
- Digital infrastructure pipeline exceeds $50 billion, including $30 billion with Meta and $20 billion with Oracle. 
- Direct lending gross origination reached $11 billion Q3, with 12-month gross origination of $47 billion. 
- Credit portfolio remains strong with 13 basis points of annualized realized losses, no meaningful stress in direct lending, and underwriting to severely challenged economic conditions.

**【CFO Financial Commentary】**
- Management fees grew 29% YoY over 12 months, with 86% from permanent capital vehicles. 
- FRE (Fee-Related Earnings) up 19% YoY, DE (Distributable Earnings) up 15%. 
- Q3 2025 fundraising of $11 billion brings 12-month total to $40 billion (+60% YoY), with 60% from institutional clients. 
- Part 1 fees expected to grow in 2026 despite rate cuts, driven by scale and incumbency. 
- Real assets management fee growth to accelerate in 2026 as Fund VI deployments ramp up.

**【Q&A Highlights】**
- **Digital Infrastructure Growth**: $27 billion Meta deal with 20+ year leases, $20 billion Oracle partnership, and $15 billion Abilene Phase 2 expansion. 
- **Credit Quality**: 13 basis points annualized realized losses, no thematic stress in direct lending. 
- **Funding Momentum**: $1 billion first close expected for digital infrastructure semi-liquid product in December. 
- **Margin Strategy**: Prioritizes reinvesting in growth over short-term margin optimization. 
- **Liquidity**: $28 billion AUM not yet deployed to generate $360 million in future fees.

Blue Owl Capital Inc.(OWL)-20251030-2025 Q3 Earnings call transcript

Revenue

Sales and Services Revenue

Financing Services Revenue

Other Revenue

Cost of Revenue

Cost of Goods and Services

Cost of Financing Services

Other Cost

Gross Profit

Other Operating Income

Operating Expenses

Selling, General and Administrative Expenses

Selling and Marketing Expenses

General and Administrative Expenses

Research and Development Expenses

Loss on Bad Debts

Loss on Impairment of Other Assets

Loss on Disposal of Assets

Other Operating Expenses

Operating Income

Non-Operating Income (Loss)

Income (Loss) from Affiliates

Income (Loss) from Associates

Income (Loss) from Joint ventures

Gain (Loss) on Other Investment

Gain (Loss) on Change in Fair Value

Gain (Loss) on Foreign Currency Exchange

Other Non-Operating Income (Loss)

Net Interest Expense

Interest Expense

Interest Income

Pretax Income From Continuing Operations

Income Tax Expense

Current Income Tax

Deferred Income Tax

Income Tax Adjustments

Net Income from Continuing Operations

Income from Discontinued Operations

Other Items Before Net Income

Net Income

Net Income Attributable to Minority Interests

Net Income Attributable to Owners of the Company

Preferred Stock Dividends

Other Adjustments

Net Income Attributable to Common Stockholders

Other Comprehensive Income

Total Comprehensive Income

Total Comprehensive Income Attributable to Minority Interests

Total Comprehensive Income Attributable to Owners of the Company

Basic EPS

Basic EPS from Continuing Operations

Basic EPS from Discontinued Operations

Diluted EPS

Diluted EPS from Continuing Operations

Diluted EPS from Discontinued Operations

OWL

OWL fundamentals

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