Blackstone Inc. (BX) Q4 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

good day and welcome to the blackstone fourth quarter and full year 2025 investor call today's call is being recorded at this time all participants are in a listen only mode if you require operator assistance please press star zero if you would like to ask a question please signal by pressing star one if you're using a speakerphone please make sure your mute function is turned off to allow your signal to reach our equipment at this time i'd like to turn the conference over John Gray, President and Chief Operating Officer, and Michael Che, Vice Chairman and Chief Financial Officer. Earlier this morning, we issued a press release and slide presentation, which are available on our website. We expect to file our 10-K report later next month. I'd like to remind you that today's call may include forward-looking statements which are uncertain and may differ from actual results materially. We do not undertake any duty to update these statements. For a discussion of some of the factors that could affect results, please see the risk factors section of our 10-K. We'll also refer to non-GAAP measures, and you'll find reconciliations in the press release on the shareholders page of our website. Also note that nothing on this call constitutes an offer to sell or solicitation of an offer to purchase an interest in any Blackstone fund. This audio cast is copyrighted material of Blackstone and may not be duplicated without consent. Just quickly on results. We reported GAAP net income for the quarter of $2 billion. Distributable earnings were $2.2 billion, or $1.75 per common share, and we declared a dividend of $1.49 per share, which we paid to holders of record as of February 9th. With that, I'll now turn the call over to Steve. Good morning, and thank you for joining our call. Blac...