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Federated Hermes (FHI) Q1 Earnings: How Key Metrics Compare to Wall Street Estimates
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Federated Hermes (FHI - Free Report) reported $396.37 million in revenue for the quarter ended March 2024, representing a year-over-year increase of 3.7%. EPS of $0.89 for the same period compares to $0.78 a year ago.
The reported revenue represents a surprise of +22.00% over the Zacks Consensus Estimate of $324.89 million. With the consensus EPS estimate being $0.89, the company has not delivered EPS surprise.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how Federated Hermes performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Managed Assets - Separate Accounts - Money market: $161.71 billion versus the two-analyst average estimate of $153.71 billion.
Managed Assets - Asset Class - Total Managed Assets: $778.69 million versus $749.78 million estimated by two analysts on average.
Managed Assets - Asset Class - Equity: $80.16 billion versus the two-analyst average estimate of $81.40 billion.
Managed Assets - Asset Class - Fixed-income: $96.33 billion versus the two-analyst average estimate of $93.82 billion.
Managed Assets - Asset Class - Alternative / private markets: $20.47 billion versus the two-analyst average estimate of $21.45 billion.
Managed Assets - Separate Accounts - Multi-asset: $139 million versus $140.06 million estimated by two analysts on average.
Managed Assets - Asset Class - Money market: $578.81 billion compared to the $550.22 billion average estimate based on two analysts.
Managed Assets - Product Type - Alternative / private markets: $12.46 billion versus $13.06 billion estimated by two analysts on average.
Managed Assets - Product Type - Multi-asset: $2.79 billion compared to the $2.75 billion average estimate based on two analysts.
Revenue- Investment advisory fees, net: $264.29 million versus the two-analyst average estimate of $274.74 million. The reported number represents a year-over-year change of +0.1%.
Revenue- Other service fees, net: $37.29 million versus the two-analyst average estimate of $37.55 million. The reported number represents a year-over-year change of -4.5%.
Revenue- Administrative service fees, net: $94.79 million versus $88.59 million estimated by two analysts on average. Compared to the year-ago quarter, this number represents a +19.7% change.
Shares of Federated Hermes have returned -1.8% over the past month versus the Zacks S&P 500 composite's -3% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.
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Federated Hermes (FHI) Q1 Earnings: How Key Metrics Compare to Wall Street Estimates
Federated Hermes (FHI - Free Report) reported $396.37 million in revenue for the quarter ended March 2024, representing a year-over-year increase of 3.7%. EPS of $0.89 for the same period compares to $0.78 a year ago.
The reported revenue represents a surprise of +22.00% over the Zacks Consensus Estimate of $324.89 million. With the consensus EPS estimate being $0.89, the company has not delivered EPS surprise.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how Federated Hermes performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Managed Assets - Separate Accounts - Money market: $161.71 billion versus the two-analyst average estimate of $153.71 billion.
- Managed Assets - Asset Class - Total Managed Assets: $778.69 million versus $749.78 million estimated by two analysts on average.
- Managed Assets - Asset Class - Equity: $80.16 billion versus the two-analyst average estimate of $81.40 billion.
- Managed Assets - Asset Class - Fixed-income: $96.33 billion versus the two-analyst average estimate of $93.82 billion.
- Managed Assets - Asset Class - Alternative / private markets: $20.47 billion versus the two-analyst average estimate of $21.45 billion.
- Managed Assets - Separate Accounts - Multi-asset: $139 million versus $140.06 million estimated by two analysts on average.
- Managed Assets - Asset Class - Money market: $578.81 billion compared to the $550.22 billion average estimate based on two analysts.
- Managed Assets - Product Type - Alternative / private markets: $12.46 billion versus $13.06 billion estimated by two analysts on average.
- Managed Assets - Product Type - Multi-asset: $2.79 billion compared to the $2.75 billion average estimate based on two analysts.
- Revenue- Investment advisory fees, net: $264.29 million versus the two-analyst average estimate of $274.74 million. The reported number represents a year-over-year change of +0.1%.
- Revenue- Other service fees, net: $37.29 million versus the two-analyst average estimate of $37.55 million. The reported number represents a year-over-year change of -4.5%.
- Revenue- Administrative service fees, net: $94.79 million versus $88.59 million estimated by two analysts on average. Compared to the year-ago quarter, this number represents a +19.7% change.
View all Key Company Metrics for Federated Hermes here>>>Shares of Federated Hermes have returned -1.8% over the past month versus the Zacks S&P 500 composite's -3% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.