Earnings Call
Apr 14, 2026
Q1 FY2026
EPS Estimate
11.65
EPS Actual
12.53
Post-Earnings Close
$1054.56
Earnings Reaction
+3.0%
BlackRock opened 2026 with what management described as one of the strongest starts in the firm's history, and the numbers largely support that characterization. First-quarter revenue of $6.7 billion rose 27% year-over-year, operating income of $2.7 billion was up 31%, and EPS of $12.53 came in well ahead of consensus estimates, representing 11% growth versus the prior-year period. Organic base fee growth of 8% marked the seventh consecutive quarter at or above 5%, and the trailing twelve-month figure reached 10%, a level that underscores the durability of the firm's growth engine rather than a one-quarter anomaly. Net inflows of $130 billion were led by record ETF inflows of $132 billion, and the as-adjusted operating margin expanded 130 basis points to 44.5%, with the margin excluding performance fees reaching 45.6%, up 180 basis points year-over-year.
Report generated on Apr 14, 2026
AI-generated earnings analysis. Not investment advice.
Chief Executive Officer
The quarter's results reflected a combination of company-specific execution and broader sector dynamics, with management addressing several of the key debates that analysts had flagged heading into the print. Guidance commentary pointed to continued momentum in the core segments, while questions on margins and capital allocation drew more nuanced responses from the leadership team over the course of the call.
The quarter's results reflected a combination of company-specific execution and broader sector dynamics, with management addressing several of the key debates that analysts had flagged heading into the print. Guidance commentary pointed to continued momentum in the core segments, while questions on margins and capital allocation drew more nuanced responses from the leadership team over the course of the call.
The quarter's results reflected a combination of company-specific execution and broader sector dynamics, with management addressing several of the key debates that analysts had flagged heading into the print. Guidance commentary pointed to continued momentum in the core segments, while questions on margins and capital allocation drew more nuanced responses from the leadership team over the course of the call.
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