Resolute Holdings Fee-Related Earnings Hold at 69 Cents a Share

The Tip Desk · November 11, 2026 · 3 min read

Non-GAAP Fee-Related Earnings were $0.69 a share in the third quarter, matching the second-quarter rate as management fees reached $13.8 million.

Resolute Holdings Management, Inc. (RHLD), an operating management company that provides services to the operating businesses of GPGI, Inc., reported Non-GAAP Fee-Related Earnings of $0.69 a share for the three months ended September 30, 2026, matching the $0.69 a share recorded in both the second and first quarters of 2026.

GAAP earnings attributable to common stockholders were a loss of $0.74 a share, or $5.8 million, compared with a loss of $0.03 a share a year earlier. The company said the increase in Non-GAAP profitability versus the year-ago period was driven by a higher fee stream after the January 2026 management agreement with Husky Holdings LLC, along with organic growth in fees from the CompoSecure management agreement.

Management fees in the standalone Resolute Holdings segment rose to $13.8 million in the three months ended September 30, 2026, from $13.6 million in the three months ended June 30, 2026, after $12.9 million in the three months ended March 31, 2026. Standalone operating expenses were $4.2 million. Income from operations in that segment was $9.6 million.

The GAAP loss widened from $0.03 a share a year earlier because of a $14.0 million income tax expense in the standalone presentation, versus $0.1 million a year earlier. The reconciliation to Fee-Related Earnings added back an $11.3 million tax impact from consolidation of GPGI Holdings, down from $18.0 million in the second quarter, after a $55.8 million benefit in the first quarter. Fee-Related Earnings were $5.5 million.

Because of the spin-off from GPGI and the management agreement with GPGI Holdings, L.L.C., current GAAP interpretation requires Resolute Holdings to consolidate the financial results of GPGI Holdings and its subsidiaries, including Husky Holdings. The company said that presentation does not represent the underlying economics of its standalone model, which it described as recurring, long-duration management fees and a relatively fixed expense base.

On a consolidated basis, net sales were $509.6 million in the three months ended September 30, 2026, versus $120.9 million a year earlier, with current results including GPGI Holdings and its subsidiaries, including Husky Holdings. Consolidated income from operations was $118.5 million. Consolidated interest expense was $33.9 million. Consolidated net income was $69.0 million, with $74.8 million attributable to non-controlling interest.

As of September 30, 2026, total assets were $6,192.2 million, versus $332.7 million at December 31, 2025, including $2,919.7 million of goodwill and $1,698.9 million of intangible assets, net. Long-term debt, net of deferred financing costs, was $2,124.1 million. Common shares outstanding were 7,819,595.

During the second quarter and through the end of July 2026, the company said it repurchased $50.0 million of common shares in open-market purchases and had reduced shares outstanding by approximately 8.3% since the spin-off. In the three months ended March 31, 2026, it said it repurchased $38.0 million of common shares.