Silvercrest Q2 adjusted EPS falls as expenses rise

Silvercrest Asset Management

30/07/2026 21:14

Overview
Asset manager's Q2 revenue rose 0.4% yr/yr, while adjusted EPS fell
Discretionary AUM rose 6.9% sequentially, driven by market gains, offset by net outflows
Expenses rose due to higher compensation and expansion-related costs

Outlook
Company expects administrative and legal costs to decline as international initiatives mature
Silvercrest plans to complete MiFID license in Ireland by end of third qtr
Company will adjust reporting of non-discretionary AUM next qtr, likely eliminating category

Result Drivers
MARKET APPRECIATION - Revenue growth was mainly driven by market gains in discretionary AUM, partially offset by net client outflows
CLIENT OUTFLOWS - Net client outflows, primarily from seasonal high net worth withdrawals for tax payments and institutional outflows, weighed on AUM and revenue
HIGHER EXPENSES - Compensation and general administrative costs rose due to merit-based salary increases, new hires, bonus accruals, and expansion-related spending

Company press release: ID:nGNX2H0KyY

Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
Q2 Revenue
Beat
$30.78 mln
$30.25 mln (2 Analysts)
Q2 Adjusted EPS
Miss
$0.10
$0.11 (2 Analysts)
Q2 Adjusted Net Income
Beat
$1.16 mln
$1.06 mln (2 Analysts)
Q2 Net Income
 
$469,000
 
Q2 Adjusted EBITDA
Miss
$3.44 mln
$3.70 mln (1 Analyst)
Q2 Adjusted EBITDA Margin
 
11.20%
 

Analyst Coverage
The current average analyst rating on the shares is "strong buy" and the breakdown of recommendations is 2 "strong buy" or "buy", no "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 Silvercrest Asset Management Group Inc is $17.50, about 75.4% above its July 29 closing price of $9.98
The stock recently traded at 14 times the next 12-month earnings vs. a P/E of 15 three months ago

Reuters Recommended Reads
July 30 - Affiliated Managers Group Q2 adjusted EBITDA beats
July 30 - Virtus Investment Partners Q2 profit misses estimates
July 30 - Amundi beats estimates with Q2 net inflows, profit jumps 29%

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(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.)