The operational business (fee revenue, AUM growth) continues to expand, but the GAAP earnings decline may weigh on investor sentiment. Monitor the non-operating driver of the GAAP miss. Dividend and share buyback program remain intact, providing a floor.
Price Chart
Executive Summary
GCM Grosvenor reported Q2 2026 Adjusted Net Income per share of $0.19, beating consensus of $0.18 by 3.3%, while GAAP net income attributable to the firm declined 38% YoY to $9.6M due to non-operating items. Fee-Related Revenue grew 11% YoY to $110.8M and AUM reached ~$97B (+13% YoY), but the GAAP earnings decline and prior weak historical performance call outcomes temper the bullish read-through.
Key Financial Metrics
Key Facts
- Q2 2026 Adjusted Net Income per share of $0.19 vs consensus $0.18 (3.3% beat)
- GAAP revenue of $134.3M (+12% YoY) — consensus $131.4M
- GAAP net income attributable to the firm of $9.6M (-38% YoY)
- Fee-Related Revenue $110.8M (+11% YoY); Fee-Related Earnings $50.3M (+21% YoY)
- Total AUM of ~$97B (+13% YoY); raised $2.3B in new capital
- Board declared $0.12 per share dividend payable Sep 15; $55M remaining on $255M share repurchase authorization
- The core management-fee business grew steadily, but GAAP profit decline was driven by non-operating items
Financial Impact
EPS beat consensus by $0.01 (3.3%), but GAAP net income fell 38% YoY, creating a mixed signal. Revenue beat by ~2.2%.
Risk Factors
- GAAP net income decline of 38% YoY could spook GAAP-focused investors
- Reliance on non-GAAP metrics; adjusted EPS may not fully capture underlying cost pressures
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 1 press release from GlobeNewswire.
| Document | Accession Number |
|---|---|
| PRESS-RELEASE Data (Synthetic) | press-3341729 |
Track record builds as more directional reports settle.
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Aug 10, 2026 11w ago | 8-K | $13.82 $13.18 | ▼ −4.63% | ▼ −3.72% | $12.13 (−12.26%) |
Aug 10, 2026 11w ago | Press Release | $13.82 $13.18 | ▼ −4.63% | ▼ −3.72% | $12.13 (−12.26%) |
May 7, 2026 24w ago | 8-K | $11.16 $9.98 | ▼ −10.57% | ▼ −13.71% | $12.13 (+8.65%) |
May 7, 2026 24w ago | Press Release | $11.16 $9.98 | ▼ −10.57% | ▼ −13.71% | $12.13 (+8.65%) |
Apr 24, 2026 26w ago | DEFA14A | $10.82 $10.89 | ▲ +0.65% | ▼ −4.31% | $12.13 (+12.06%) |
US Market Status
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