KKR Profit Falls 94% in Quarter as Oil Drop Hits Holdings
This article is for subscribers only.
KKR & Co. said fourth-quarter profit fell 94 percent as the private equity firm led by Henry Kravis and George Roberts marked down energy-related holdings after oil prices slid. The shares fell the most in two months.
Economic net income, which includes unrealized gains, decreased to $46 million, or 5 cents a share, from $743 million, or $1.04 a share, a year earlier, New York-based KKR said in a statement Tuesday. That missed the 44-cent average per-share estimate of 15 analysts in a Bloomberg survey.