Apollo Global Management, Inc. current report, 09 May 2023

Full document

Apollo Global Management, Inc. — Form 8-K Summary

Reporting date: May 9, 2023. The filing reports Apollo’s first-quarter 2023 results for the period ended March 31, 2023.

Business Context and Reporting Period

Apollo issued a summary press release and detailed earnings presentation addressing its first-quarter 2023 financial results. The filing also references a quarterly financial supplement available on Apollo’s investor-relations website.

Financial Metrics

  • The filing text does not provide clear values for revenue, profit, cash flow, margins, assets under management, debt, liquidity, or other financial metrics.
  • Detailed results are contained in Exhibit 99.1, the summary press release, and Exhibit 99.2, the earnings presentation.

Material Changes and Accounting Update

  • Apollo’s quarterly financial supplement reflects adoption of the U.S. GAAP standard for Targeted Improvements to the Accounting for Long-Duration Contracts, or LDTI.
  • LDTI updates accounting and disclosures for long-duration insurance and investment contracts. The filing text does not quantify the adoption’s effect on reported results, equity, or other financial statement amounts.
  • No year-over-year or sequential financial comparisons are stated in the provided filing text.

Guidance, Outlook, Risks, and Unusual Items

  • No guidance, forecast, management outlook, material risk discussion, contingencies, or unusual items are provided in the filing text.
  • The reported information was furnished under Items 2.02 and 7.01 and is not deemed filed for purposes of Exchange Act Section 18 liability, except where expressly incorporated by reference.

Investor Verification Checklist

  • Review Exhibit 99.1 for reported revenue, earnings, cash flow, fee-related earnings, net income, and other headline results.
  • Review Exhibit 99.2 for operating metrics, capital deployment, fundraising, liquidity, leverage, outlook, and management commentary.
  • Verify the impact of LDTI adoption in Apollo’s quarterly financial supplement and related disclosures.
  • Check for any reconciliation of non-GAAP measures to GAAP results and for changes in presentation caused by the LDTI adoption.