EQT AB (publ) (EQT) Q3 2026 Earnings Call: Guidance and Outlook
Formal guidance covers the upcoming periods for newly acquired strategies and the broader fundraising cycle, alongside expectations for fee-related margins and balance sheet returns.
About EQT AB (publ). EQT Corporation primarily functions as an extractor of natural gas within the United States. In addition to natural gas, the firm also obtains various natural gas liquids (NGLs), specifically ethane, propane, isobutane, butane, and natural gasoline. 0 trillion cubic feet of natural gas, NGLs, and crude oil.
No specific formal quarterly financial guidance was provided beyond ongoing operational and fundraising milestones.
Annual guidance
Stockbridge 2027 metrics
Fee-paying AUM of USD 17 billion to USD 19 billion, management fees of USD 120 million to USD 130 million, and fee-related EBITDA of USD 35 million to USD 45 million.
Stockbridge growth
Fee-related EBITDA for Stockbridge is expected to grow by 15% to 20% annually in the coming years.
Cycle fundraising
Raised fundraising outlook for this cycle to EUR 140 billion, up from EUR 100 billion.
Balance sheet returns
Annual blended returns on balance sheet investments should be at least 10%.
Outlook
Fundraising momentum
Fundraising momentum is excellent, with EQT taking market share despite global industry fundraising volumes being down 13% over the last 12 months.
AI infrastructure demand
Management sees no signs of a material change in the demand and supply imbalance for AI compute globally, with EdgeConneX contracted capacity expected to reach 3.5 gigawatts by the end of 2026.
Real estate market
The institutional real estate market is large, growing at 7% to 8% per year, and Stockbridge provides a natural way to expand into alternative living and open-ended core funds.
Exit and M&A environment
Geopolitical backdrop and recent interest rate increases create a more selective environment for exits, but strategic interest is picking up for certain situations.
Secondaries market
Secondaries deal volume in the first half of 2026 is up 20% year-on-year, driven by client demand for liquidity and investors wanting to stay invested in winners.
Dombey's summary of the EQT AB (publ) Q3 2026 earnings call held Oct 15, 2026, written from the call itself. Every figure on this page was checked against what was said on the call, and quoted lines are management's own words; we do not add estimates or prices. The tone score is our read of management's wording, guidance and answers. Check figures against the company's SEC filings before acting. This is research, not investment advice.
