KKR & Co. Inc. (KKR) Q1 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Ladies and gentlemen, thank you for standing by. Welcome to KKR's first quarter 2025 earnings conference call. During today's presentation, all parties will be in the listen-only mode. Following management's prepared remarks from the conference will be open for questions. If anyone should require operator assistance during the conference, please press star and zero on your telephone keypad. As a reminder, this conference is being recorded. I will now hand the call over to Craig Larson, Partner and Head of Investor Relations for KKR. Craig, please go ahead. Thank you, Operator. Good morning, everyone. Welcome to our first quarter 2025 earnings call. This morning, as usual, I'm joined by Rob Lewin, our Chief Financial Officer, and Scott Nuttall, our Co-Chief Executive Officer. We would like to remind everyone that we'll refer to non-GAAP measures on the call, which are reconciled to GAAP figures in our press release, which is available on the Investor Center section at KKR.com. And as a reminder, we report our segment numbers on an adjusted share basis. This call will contain forward-looking statements, which do not guarantee future events or performance. Please refer to our earnings release and our SEC filings for cautionary factors about these statements. I'm going to begin this morning by reviewing our results for the quarter before Rob walks through the current environment, its impact on our key business drivers, as well as our strategic positioning longer term. Scott will then finish with some closing thoughts. So beginning with our headline financial results for the quarter. Fee-related earnings per share came in at 92 cents up 22% year-over-year. Total operating earnings of $1.24 per share are up 16% year-over-year. And adjusted net income of $1.15 per share is ...