Patria Investments Ltd (PAX) shares soared 6.26% in Wednesday's intraday trading session, following the company's impressive fourth-quarter 2024 earnings results that surpassed analyst estimates.
The Cayman Islands-based private markets investment firm reported Q4 distributable earnings per share of $0.58, significantly higher than the consensus estimate of $0.35. Revenue from services rose 40.7% year-over-year to $157.2 million, beating expectations of $92.31 million.
The strong performance was driven by robust fee-related earnings growth of 18% in Q4, hitting $54.8 million, and a fee-related earnings margin of 59%. For the full year 2024, fee-related earnings climbed 15% to $170.1 million. Additionally, Patria generated $41 million in performance-related earnings, primarily from the sale of its successful infrastructure investment, Aguas Pacifico.