Blackrock, Inc. · NYSE:BLK
Blackrock — Q1 2022 Earnings Presentation
12 slides from Blackrock's earnings presentation, Apr 27, 2022
Slide 1: Q1 2022 Earnings Release Supplement
April 13, 2022 Q1 2022 Earnings Earnings Release Supplement
Slide 2: A broadly diversified business across clients, products and geographies
A broadly diversified business across clients, products and geographies Assets Under Management of $9.57 trillion at March 31, 2022 Q1 2022 Base Fees and Securities Lending Revenue of $3.833 billion Client Type Style Product Type Region Institutional Active 26% 29% Active Equity Equity 49% Instituti
Slide 3: Net flows
Net flows ($ in billions) Total BlackRock Retail Long-term 6% 5% 6% 5% 8% 7% 6% 6% 5% 2% 4% 6% 10% 18% 16% 16% 12% 8% 4% 5% 7% 7% 14% 13% 13% 11% 8% Long-term Cash Advisory $212 $35 $37 $172 $44 $129 $127 $39 $3 $2 $9 $21 $23 $22 $100 $75 $20 $28 $81 $16 $14 $169 $10 $35 $24 $133 $23 $98 $116 $98 $1
Slide 4: Profitability
Profitability ($ in millions, except per share data) Operating Income and Margin, as adjusted Net Income and EPS, as adjusted $2,040 $11.34 $10.45 $10.68 $1,920 $10.32 $2,700 48.0% 50.0% $2,600 47.3% 46.9% 47.6% 46.6% $9.41 $9.52 $2,500 45.8% $1,800 $2,400 44.4% 44.2% $8.04 $1,750 $2,300 43.6% 45.0%
Slide 5: Capital management
Capital management (amounts in millions, except per share data) Share repurchases and Dividends per share weighted-average diluted shares $4.88 156.4 $4.13 $4.13 $4.13 $4.13 154.7 153.7 154.5 154.3 154.4 154.3 154.6 153.5 $3.63 $3.63 $3.63 $3.63 (1) $1,113 $500 $400 $300 $300 $300 $300 $0 $0 Q1 Q2 Q
Slide 6: Major market indices and exchange rates
Major market indices and exchange rates %Change %Change Spot 3/31/22 vs. Average Q1 2022 vs. 3/31/2021 12/31/2021 3/31/2022 12/31/2021 3/31/2021 Q1 2021 Q4 2021 Q1 2022 Q4 2021 Q1 2021 Equity Indices Domestic S&P 500 3,973 4,766 4,530 (5)% 14% 3,864 4,605 4,465 (3)% 16% Global MSCI Barra World Index
Slide 7: Quarterly revenue
Quarterly revenue ($ in millions) Percentage Change Year-over-Year Sequential 79% Base fees Base fees 7% (4)% Securities lending revenue Securities lending revenue 9% 1% Performance fees Performance fees (24)% (70)% Technology services revenue Technology services revenue 11% 1% 1% 8% Distribution fe
Slide 8: Quarterly investment advisory, administration fees and securities lending revenue
Quarterly investment advisory, administration fees and securities lending revenue ($ in millions) Q1 2022 compared to Q1 2021 Q1 2022 compared to Q4 2021 $241 $(135) $45 $13 $(3) $(3) $(14) $(19) $3,968 $(26) $(64) $11 $9 $5 $(6) $3,833 $(64) $31 $27 $3,833 $34 $40 $90 $3,592 Q1 2021 ETFs Active Alt
Slide 9: Quarterly expense, as adjusted
Quarterly expense, as adjusted ($ in millions) Employee comp. & benefits Percentage Change Year-over-Year Sequential 20% 8% (4)% Employee comp. & benefits(1) Distribution & servicing costs Distribution & servicing costs 14% (2)% 11% 3% 3% Direct fund expense 52% Direct fund expense Product launch co
Slide 10: Alternatives Client Assets
Alternatives Client Assets ($ in billions, as of March 31, 2022) Non-Fee Client Fee Paying Paying Assets AUM Commitments Illiquid alternatives: Alternative solutions $10 $6 $4 Private equity 33 25 8 Opportunistic & credit strategies 33 21 12 Real assets: Real estate 31 30 1 Infrastructure 38 27 11 R
Slide 11: Reconciliation between GAAP and as adjusted
Reconciliation between GAAP and as adjusted ($ in millions) 2020 2021 2022 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Operating Income GAAP $ 684 $ 1,406 $ 1,757 $ 1,848 $ 1,545 $ 1,931 $ 1,935 $ 2,039 $ 1,764 Non-GAAP expense adjustments 651 22 36 29 54 85 90 68 58 As Adjusted $ 1,335 $ 1,428 $ 1,793 $ 1,877 $ 1,5
Slide 12: Important Notes
Important Notes This presentation, and other statements that BlackRock may make, may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act, with respect to BlackRock’s future financial or business performance, strategies or expectations. Forward-lookin