Apollo Global Management, Inc. (NYSE:APO) Q2 2024 Earnings Conference Call August 1, 2024 8:30 AM ET

Company Participants

Noah Gunn - Global Head, Investor Relations
Marc Rowan - Chief Executive Officer
Scott Kleinman - Co-President
Martin Kelly - Chief Financial Officer

Conference Call Participants

Glenn Schorr - Evercore ISI
Alexander Blostein - Goldman Sachs
Patrick Davitt - Autonomous Research
Brennan Hawken - UBS
Craig Siegenthaler - Bank of America
Michael Cyprys - Morgan Stanley
Alexander Bernstein - JPMorgan
Benjamin Budish - Barclays

Operator

Good morning, and welcome to Apollo Global Management's Second Quarter 2024 Earnings Conference Call. During today’s discussion, all callers will be placed in listen-only mode, and following management’s prepared remarks, the conference call will be open for questions. Please limit yourself to one question and then rejoin the queue. This conference call is being recorded.

This call may include forward-looking statements and projections, which do not guarantee future events or performances. Please refer to Apollo's most recent SEC filings for risk factors related to these statements.

Apollo will be discussing certain non-GAAP measures on this call, which management believes are relevant in assessing the financial performance of the business. These non-GAAP measures are reconciled to GAAP measures in Apollo's earnings presentation, which is available on the company's website. Also note that nothing on this call constitutes an offer to sell or a solicitation for an offer to purchase an interest in any Apollo fund.

I will now like to turn the call over to Noah Gunn, Global Head of Investor Relations.

Noah Gunn

Thanks operator. And welcome again everyone to our call. We appreciate the opportunity to speak with you and discuss all the momentum we are seeing across the firm. Earlier this morning, we published our earnings release and financial supplement on the Investor Relations portion of our website.

We reported solid second quarter financial results, which included record quarterly FRE of $516 million or $0.84 per share and SRE of $710 million or $1.15 per share. Combined with principal investing income, HoldCo financing costs and taxes, we reported adjusted net income of $1 billion or $1.64 per share.

Joining me this morning to discuss our results in further detail are Marc Rowan, CEO; Jim Zelter, Scott Kleinman, Co-President; and Martin Kelly, CFO.

Before handing it over, I'd like to formally announce that we are hosting an Investor Day in New York on Tuesday, October 1st. We will provide additional detail in the coming months and hope that you will join our broader team as we discuss the exciting long-term growth opportunities in front of us.