BlackRock Q2: Record $868B net inflows over past 12 months

Source: Motley Fool Transcribing, The Motley Fool Date of Call: Wednesday, July 15, 2026 at 7:30 a.m. ET

Call Participants

• Laurence D. Fink – Chairman and Chief Executive Officer
• Martin S. Small – Chief Financial Officer
• Robert S. Kapito – President
• Christopher J. Meade – General Counsel

Full Conference Call Transcript

Operator: Good morning. My name is Shelley, and I will be your conference facilitator today. At this time, I would like to welcome everyone to the BlackRock, Inc. second quarter 2026 earnings teleconference. Our host for today's call will be Chairman and Chief Executive Officer, Laurence D. Fink; Chief Financial Officer, Martin S. Small; President, Robert S. Kapito; and General Counsel, Christopher J. Meade.

All lines have been placed on mute to prevent any background noise. After the speaker's remarks, there will be a question and answer period. If you would like to ask a question during this time, simply press star then the number one on your telephone keypad. If you would like to withdraw your question, please press star two.

Thank you. Mr. Meade, you may begin your conference.

Christopher Meade: Good morning, everyone. I'm Chris Meade, the General Counsel of BlackRock. Before we begin, I'd like to remind you that during the course of this call, we may make a number of forward-looking statements. We call your attention to the fact that BlackRock's actual results may, of course, differ from these statements.

As you know, BlackRock has filed reports with the SEC, which lists some of the factors that may cause the results of BlackRock to differ materially from what we say today. BlackRock assumes no duty and does not undertake to update any forward-looking statements.

With that, I'll turn it over to Martin.

Martin Small: Thanks, Chris. Good morning, everyone. It's my pleasure to present results for the second quarter of 2026. Before I turn it over to Larry, I'll review our financial performance and business results.

Our earnings release discloses both GAAP and as adjusted financial results. A reconciliation between GAAP and our as adjusted results has been included in the tables attached to today's press release. I'll be focusing primarily on our as adjusted results.

BlackRock's record net inflows and organic base fees in the first half of 2026 are vivid proof points of a firm at the center of mega trends shaping the investment landscape across public markets, private markets, and technology.

Wealth managers and institutions all over the world are growing with BlackRock consistently through market cycles — from ETF model portfolios to personalized SMAs, to systematic and income-focused strategies, and in infrastructure and private credit.

With $868 billion of net inflows and 10% organic base fee growth over the last 12 months, our results demonstrate that BlackRock is the total portfolio, all-weather strategic partner that helps clients look past short-term uncertainties and towards long-term growth.

We create and we connect clients to the vast opportunities in artificial intelligence and digital and physical infrastructure. We help them position for success in generational changes to benchmarks and equity market structure. We're driving expanded investor access to capital markets and digital assets.

We're a market leader and high share gainer in manufacturing hyper-personalized, tax-efficient portfolios that power wealth management platforms. We're reshaping the future of retirement portfolios with access to guaranteed income and private markets.

Clients are rewarding our integrated platform of asset management and technology across public and private markets. It's what clients want because they're building one portfolio. A world that's more fragmented brings clients closer to BlackRock to make sense of the pieces, to put them together in one coherent strategy for a whole portfolio, and to drive outcomes at scale.

BlackRock is a leader at the center of these accelerating forces. An ecosystem disruption means more money in motion and more value to play for and win.

We see strong momentum. Organic base fees are more than 50% higher compared to this time last year. Higher quality organic growth, discipline on our financial framework, and consistent capital return create a clear path to structural growth.