| BLK |
Report |
Adjusted EPS |
BEAT |
pred ~$13.20 vs. cons $12.65 |
MEDIUM |
| BLK |
Report |
Revenue |
BEAT |
pred ~$6.90B vs. cons $6.74B |
MEDIUM |
| BLK |
Report |
Organic base fee growth (annualized) |
BEAT |
pred ~7% vs. cons ~5.5% |
MEDIUM |
| BLK |
Guide |
Adjusted operating margin (FY2026) |
BETTER |
guide ~45% vs. cons ~44.5% (FY2026) |
MEDIUM |
| BLK |
Guide |
AUM (quarter-end) |
BETTER |
guide/actual ~$14.7T vs. cons ~$14.3T (Q2'26) |
MEDIUM |
| BLK |
Guide |
Quarterly buyback pace |
UNCHANGED |
guide ~$450M/qtr vs. cons ~$450M (2H'26) |
MEDIUM |
| BLK |
Guide |
Effective tax rate (2H'26) |
UNCHANGED |
guide ~25% vs. cons ~25% (2H'26) |
MEDIUM |
| BLK |
Return |
Day-1 residual (stock − beta × S&P 500) |
+2.0% |
— |
MEDIUM |
| BLK |
Return |
5-day cumulative residual |
+2.5% (FOLLOW-THROUGH) |
Q2's ~14% equity rally (SPY 655→752) lifts average and exit AUM to a record, so a market-driven revenue/EPS beat plus sustained ~6-7% organic base fee growth raises the forward base-fee base — the out-period math works in BLK's favor (higher AUM entering Q3), so estimates should be revised up rather than cut. Positive DOL/private-markets and margin commentary reinforce; only the lagging YTD stock and premium multiple cap the magnitude, keeping follow-through modest rather than explosive (beta ~1.14). |
LOW |