Invesco Q2 adjusted EPS beats analyst estimates on record inflows
Invesco Q2 adjusted EPS beats analyst estimates on record inflows
Overview
Asset manager's Q2 adjusted EPS beat analyst expectations, driven by higher average AUM
Q2 net long-term inflows reached record $45.1 bln, boosting ending AUM 14% sequentially
Company repurchased $50 mln of shares and declared $0.215/share quarterly dividend
Outlook
Company did not provide specific guidance for the current quarter or full year
Result Drivers
RECORD INFLOWS - Net long-term inflows of $45.1 bln, mainly from ETFs, Index, QQQ, China JV and Private Markets, drove AUM growth
HIGHER AVERAGE AUM - Increased average AUM boosted investment management fees and net revenues
CANADIAN BUSINESS SALE - Net benefit from sale and restructuring of Canadian fund business reduced general and administrative expenses
Company press release: ID:nPn2njFGPa
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q2 Operating Revenue |
| $1.83 bln |
|
Q2 Adjusted EPS | Beat | $0.71 | $0.66 (9 Analysts) |
Q2 EPS |
| $0.76 |
|
Q2 Dividend |
| $0.22 |
|
Analyst Coverage
The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 5 "strong buy" or "buy", 9 "hold" and no "sell" or "strong sell"
The average consensus recommendation for the investment management & fund operators peer group is "buy."
Wall Street's median 12-month price target for Invesco Ltd is $31.50, about 4.6% above its July 27 closing price of $30.11
The stock recently traded at 10 times the next 12-month earnings vs. a P/E of 9 three months ago
Reuters Recommended Reads
July 28 - AllianceBernstein Q2 adjusted EPS misses estimates on equity outflows
July 28 - UK's Man Group H1 AUM rises to record on investment performance
July 27 - Brookfield raises $2 billion for Middle East fund from investors including Saudi Arabia's PIF
For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.
(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)
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