Earnings Call Insights: Blue Owl Capital Inc. (OWL) Q1 2026 Management view “We raised $57 billion of capital over the last 12 months… and $11 billion in the first quarter,” and “revenues increased by 13%, fee-related earnings by 14% and distributable earnings by 11% compared to the first quarter of 2025,” Marc S. Lipschultz (Co-Founder, Co-CEO Marc Lipschultz) said. “Direct lending represents onl...
Earnings Call Insights: Blue Owl Capital Inc. (OWL) Q1 2026 Management view “We raised $57 billion of capital over the last 12 months… and $11 billion in the first quarter,” and “revenues increased by 13%, fee-related earnings by 14% and distributable earnings by 11% compared to the first quarter of 2025,” Marc S. Lipschultz (Co-Founder, Co-CEO Marc Lipschultz) said. “Direct lending represents only 37% of Blue Owl’s AUM… real assets is now 27% of AUM and GP Strategic Capital is 22%,” Marc Lipschultz said, adding, “nearly 3/4 of equity capital we’ve raised over the last 12 months has been outside of direct lending.” “The actual impact to Blue Owl’s revenues and earnings for the first quarter was quite modest,” Marc Lipschultz said on nontraded BDC flows, citing “net outflows of roughly $170 million from OCIC and OTIC,” and adding that “these 2 funds collectively comprise less than 17% of our total AUM.” “This marks the fourth data center project above $10 billion announced in less than 18 months for which Blue Owl will play a critical role,” Marc Lipschultz said, referencing “Amazon announced a $12 billion data center campus with investment for Blue Owl’s digital infrastructure funds.” “We modestly increased our FRE margin, expanding to 58.4% for the quarter,” Alan Kirshenbaum (Chief Financial Officer Alan Kirshenbaum) said, and “AUM not yet paying fees increased to $30 billion, representing approximately $350 million of expected annual management fees once deployed.” Outlook “We remain focused on disciplined expense management,” Alan Kirshenbaum said, and “continue to see a path to achieve our goal of 58.5% FRE margins for 2026.” “We remain committed to paying out our $0.92 dividend for 2026,” Alan Kirshenbaum said. “We… continue to expect to hit our hard cap of $7.5 billion by the end of this year,” Alan Kirshenbaum said about the latest net lease flagship. Compared with last quarter’s language, Alan Kirshenbaum had said, “we believe we can see modest margin expans...
Earnings Call Insights: Riot Platforms (RIOT) Q1 2026 Management View "The first quarter of 2026 was a definitive inflection point in Riot's transition into one of the most significant and capable data center operators in the industry." (CEO & Executive Director Jason Les) "AMD officially exercised a 25-megawatt expansion option, bringing their total contracted footprint at our Rockdale facility t...
Earnings Call Insights: Riot Platforms (RIOT) Q1 2026 Management View "The first quarter of 2026 was a definitive inflection point in Riot's transition into one of the most significant and capable data center operators in the industry." (CEO & Executive Director Jason Les) "AMD officially exercised a 25-megawatt expansion option, bringing their total contracted footprint at our Rockdale facility to 50 megawatts" and "initial data center capacity for this expansion will be delivered beginning in November of this year." (CEO & Executive Director Les) "We have initiated development of our first core and shell building using our enhanced 168-megawatt standard design" and "our total planned campus capacity now stands at 756 megawatts of critical IT capacity." (CEO & Executive Director Les) "Importantly, we did not issue any common equity during the quarter." (CFO, Executive VP and Head of Corporate Development & Strategy Jason Chung) Outlook "We anticipate exiting 2026 with an annualized operating lease revenue run rate of $37.8 million, scaling to a run rate of $55.6 million as we exit 2027 and AMD's full 50-megawatt footprint comes online." (CEO & Executive Director Jason Les) "Phase 3 highlighted in blue will deliver 10 megawatts in November of 2026" and "Phase 4 highlighted in orange represents the remaining 15 megawatts for delivery in May of 2027." (CEO & Executive Director Les) "We continue to target attractive loan-to-cost ratios in the range of 80%" for "project level, non-recourse financing structures for the AMD lease." (CFO Chung) Financial Results "For the first quarter of 2026, Riot reported total revenue of $167 million" and "we recorded a GAAP net loss of $500 million, or $1.44 per diluted share and an adjusted EBITDA loss of $311 million." (CFO, Executive VP and Head of Corporate Development & Strategy Jason Chung) "This loss was driven by non-cash mark-to-market accounting adjustments on our Bitcoin holdings of $326.7 million and non-cash depreciation a...
Earnings Call Insights: Apple (AAPL) Q2 fiscal 2026 Management View "Before we get into the quarter, I wanted to take a moment to talk about the transition we recently announced." (CEO & Director Timothy Cook) "This moment for the transition is the right one for a number of reasons." "I very much look forward to stepping into the role of Executive Chairman on September 1." "Stepping into the role ...
Earnings Call Insights: Apple (AAPL) Q2 fiscal 2026 Management View "Before we get into the quarter, I wanted to take a moment to talk about the transition we recently announced." (CEO & Director Timothy Cook) "This moment for the transition is the right one for a number of reasons." "I very much look forward to stepping into the role of Executive Chairman on September 1." "Stepping into the role of CEO is an incredible honor, and it means a great deal to me to have Tim's trust and confidence." (Senior Vice President of Hardware Engineering John Ternus) "Kevan and I intend to continue" the "thoughtfulness, deliberateness and discipline" in financial decision-making when he transitions into the role in September. "Today, Apple is proud to report $111.2 billion in revenue, up 17% from a year ago and a March quarter record, which was above the high end of our guidance range despite supply constraints." (CEO Cook) "Services reached an all-time revenue record" and "EPS set a March quarter record of $2.01." "Our installed base of over 2.5 billion active devices has reached another all-time high across all major product categories and geographic segments." (Senior VP & CFO Kevan Parekh) "Company gross margin was 49.3%, above the high end of our guidance range and up 110 basis points sequentially." Outlook "We expect our June quarter total company revenue to grow by 14% to 17% year-over-year, which comprehends our best view of constraint supply." (CFO Parekh) "We expect gross margin to be between 47.5% and 48.5%." "We expect operating expenses to be between $18.8 billion and $19.1 billion." "For Mac, in the June quarter, there's 2 factors that are driving the constraints." (CEO Cook) "The customer recognition" of Mac Mini and Mac Studio as "amazing platforms for AI and Agentic tools" is "happening faster than what we had predicted" and "the customer response to Mac Neo has just been off the charts." "Beyond the June quarter, we believe memory costs will drive an increasing ...
NVIDIA Corporation (NASDAQ:NVDA) is one of the 7 Best Data Center Hardware Stocks to Invest in. Reuters on April 22 cited Commerce Department Secretary Howard Lutnick reporting that NVIDIA Corporation (NASDAQ:NVDA) has not sold its H200 AI chips to Chinese enterprises. Lutnick stated, “We have not sold them chips as of yet,” attributing the delay […]
NVIDIA Corporation (NASDAQ:NVDA) is one of the 7 Best Data Center Hardware Stocks to Invest in. Reuters on April 22 cited Commerce Department Secretary Howard Lutnick reporting that NVIDIA Corporation (NASDAQ:NVDA) has not sold its H200 AI chips to Chinese enterprises. Lutnick stated, “We have not sold them chips as of yet,” attributing the delay […]
Advanced Micro Devices, Inc. (NASDAQ:AMD) is one of the 7 Best Data Center Hardware Stocks to Invest in. On April 24, CNBC reported that Advanced Micro Devices, Inc. (NASDAQ:AMD) shares went up by over 12%, citing investor reaction to Intel’s latest earnings. Intel saw a high CPU demand due to AI buildouts, leading investors to […]
Advanced Micro Devices, Inc. (NASDAQ:AMD) is one of the 7 Best Data Center Hardware Stocks to Invest in. On April 24, CNBC reported that Advanced Micro Devices, Inc. (NASDAQ:AMD) shares went up by over 12%, citing investor reaction to Intel’s latest earnings. Intel saw a high CPU demand due to AI buildouts, leading investors to […]
Lean hog futures were down 25 cents to $1.65 at the Thursday close. USDA’s national base hog price was reported at $92.64 on Thursday afternoon, down 61 cents from the day prior. The CME Lean Hog Index was back up 12 cents on April 28 at $91.31. Export Sales data...
Lean hog futures were down 25 cents to $1.65 at the Thursday close. USDA’s national base hog price was reported at $92.64 on Thursday afternoon, down 61 cents from the day prior. The CME Lean Hog Index was back up 12 cents on April 28 at $91.31. Export Sales data...
Cotton futures closed the Thursday session gains of the 3 cent limit in July, with in delivery May up 3 cents. Most other contracts were 102 to 254 points higher. The US dollar index was down $0.877 at $97.950. Crude oil was back down $1.47 to $105.41. USDA’s Export Sales...
Cotton futures closed the Thursday session gains of the 3 cent limit in July, with in delivery May up 3 cents. Most other contracts were 102 to 254 points higher. The US dollar index was down $0.877 at $97.950. Crude oil was back down $1.47 to $105.41. USDA’s Export Sales...
Live cattle futures posted mixed trade at the close, with contracts down $1.25 to $1.60 higher in the expiring April contract. Cash trade got kicked off early again this week, starting at $250-252 across the country and working up to $256-257 on Wednesday. Feeder cattle futures closed Thursday with gains...
Live cattle futures posted mixed trade at the close, with contracts down $1.25 to $1.60 higher in the expiring April contract. Cash trade got kicked off early again this week, starting at $250-252 across the country and working up to $256-257 on Wednesday. Feeder cattle futures closed Thursday with gains...
The wheat complex posted some profit taking on Thursday, with all three markets facing pressure. Chicago SRW futures were down 11 ¾ to 18 ½ cents in the front months. KC HRW futures were 5 ¼ to 12 ¼ cents lower in most contracts. MPLS spring wheat was 5 ¾...
The wheat complex posted some profit taking on Thursday, with all three markets facing pressure. Chicago SRW futures were down 11 ¾ to 18 ½ cents in the front months. KC HRW futures were 5 ¼ to 12 ¼ cents lower in most contracts. MPLS spring wheat was 5 ¾...