KKR Co. first quarter as a corporation was strong, with the private equity firm posting net income of $680.4 million, a 40 percent year-over-year increase
Here's are eight takeaways from KKR's second quarter 2018 report:
1. KKR increased its assets under management from $168 million in Q2 of 2017 to $191 million, a 29 percent increase.
2. The company increased its management fees by $75 million year over year to $980 million.
3. After tax deductible earnings also increased from $276.9 million to $404.7 million.
4. The company's book value per share was $15.59, a 15 percent increase from $13.50 year over year.
5. KKR declared a dividend of $0.17 per share, which will be paid to shareholders Aug. 21.
6. KKR Co-Chairmen Henry Kravis and George Roberts said the corporation conversion was successful. They said, "In terms of our results, operating fundamentals across the firm remain strong evidenced by the 29 percent growth in our assets under management and 15 percent growth in our book value per share over the last 12 months."
7. Thomas Reuters and SmartConsensus Reports both view the company favorably, awarding "positive" and "buy" ratings. KKR is trading near its 52-week high at $27.67.
8. The FTC approved KKR's bid to acquire Nashville, Tenn.-based Envision Healthcare July 19. If KKR completes the $9.9 billion transaction, Envision Healthcare will be taken private.