: TPG’s distributable earnings beat target

TPG Inc. TPG said Wednesday it swung to a fourth-quarter loss of $10 million, or 3 cents a share, from net income of $235.8 million in the year-ago quarter prior to the private equity firm’s initial public offering. Fourth-quarter net income attributable to TPG Inc. was $24 million, down from $41 million in the year-ago quarter and $37 million in the third quarter. TPG’s fourth-quarter after-tax distributable earnings of 59 cents a share beat the Wall Street target of 53 cents a share, according to estimates compiled by FactSet. The firm’s fourth-quarter revenue of $439.34 million fell from the year-ago figure of $1.08 billion and beat the analyst estimate of $301.1 million. CEO Jon Winkelried said TPG navigated “markets with more disruption and volatility than we’ve seen in a decade.” TPG stock is up 17.5% in 2022, compared to a 7.7% rise by the S&P 500 SPX.

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