BAM earnings: date, guidance and results
BAM's next results are expected on November 6, 2026. Watch whether fundraising becomes recurring fees and cash.
What has BAM guided for 2027?
At its September 17, 2026 investor day, BAM targeted US$1.3 trillion of fee-bearing capital and US$6.6 billion of FRE by 2031. These are planning targets, not contracted earnings. Management expects 2027 growth to return toward its long-term pace after an unusually strong 2026. Infrastructure and private-equity fundraising should finish strongly, followed by real-estate and Oaktree credit flagship funds.
BAM also expects capital-markets fees in the year ending December 2027. This business arranges financing and brings investors into transactions. Carried interest could add more. If a fund buys a company for US$100 million and later sells it for US$150 million, the manager may receive a performance share of the qualifying profit. That can make one year unusually strong, but recurring fees remain the clearer foundation.
| the period guided | low | high | the date it was given | |
|---|---|---|---|---|
| Capital markets fees (US$ millions) | Year to Dec 2027 | 50 | 100 | Sep 17, 2026 |
Did BAM keep its past promises?
Management aimed for annual growth of 15% or more in earnings and dividends. In 2025, fee-related earnings grew 22%, while distributable earnings grew 14%. The dividend declared in February 2026 rose 15%, and the latest reported second-quarter fee-related earnings growth was 20%. The record is encouraging, but shareholders should judge growth after compensation and dilution.
What is BAM's eight-quarter revenue and profit trend?
June 2026 showed real fee-business growth, but accounting profit grew much faster. Revenue reached US$1,753 million, up approximately 60.8% from the prior-year quarter. Operating income rose from US$570 million to US$1,154 million, while common-shareholder net income rose from US$620 million to US$904 million.
| Jun 2026 | Mar 2026 | Dec 2025 | Sep 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sep 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | 1,753 | 1,338 | 1,394 | 1,252 | 1,090 | 1,081 | 1,063 | 1,117 |
| Operating income | 1,154 | 652 | 943 | 783 | 570 | 592 | 645 | 649 |
| Net income | 904 | 617 | 560 | 724 | 620 | 581 | 688 | 544 |
| EPS, diluted | 0.56 | 0.38 | 0.34 | 0.44 | 0.38 | 0.36 | 0.42 | 0.34 |
What should I watch in BAM's next results?
The nearest checkpoint is the September 2026 quarter. Trackers estimate a November 6, 2026 release, although BAM has not confirmed that date. The important measures are recurring fee growth, newly fee-bearing capital and liquidity after Oaktree. They reveal more about the business than a small movement around quarterly EPS consensus.