Have you been eager to see how Invesco Ltd. (IVZ - Free Report) performed in Q2 in comparison with the market expectations? Let’s quickly scan through the key facts from this GA-based asset manager’s earnings release this morning:
An Earnings Beat
Invesco came out with adjusted earnings of 56 cents per share, which beat the Zacks Consensus Estimate by a penny.
Lower expense level was mainly responsible for the earnings beat.
How Was the Estimate Revision Trend?
You should note that the earnings estimate revisions for Invesco depicted pessimism prior to the earnings release. The Zacks Consensus Estimate has moved 5.2% lower over the last 30 days.
Further, Invesco doesn’t have a decent earnings surprise history. Before posting the earnings beat in Q2, the company delivered negative surprises in three of the prior four quarters, as evident from the chart below:
Revenue Came In Lower Than Expected
Invesco posted GAAP revenues of $1.19 billion, which marginally missed the Zacks Consensus Estimate of $1.20 billion. Also, it compared unfavorably with the year-ago number of $1.32 billion.
Key Statistics:
- Adjusted operating margin was 38.6%
- Assets under management (AUM) of $779.6 billion
- Long-term net inflows were $4.5 billion
What Zacks Rank Says
The estimate revisions that we discussed earlier have driven a Zacks Rank #5 (Strong Sell) for Invesco. However, since the latest earnings performance is yet to be reflected in the estimate revisions, the rank is subject to change. While things apparently look favorable, it all depends on what sense the just-released report makes to the analysts.
Check back later for our full write up on this Invesco earnings report!
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It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
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Have you been eager to see how Invesco Ltd. (IVZ - Free Report) performed in Q2 in comparison with the market expectations? Let’s quickly scan through the key facts from this GA-based asset manager’s earnings release this morning:
An Earnings Beat
Invesco came out with adjusted earnings of 56 cents per share, which beat the Zacks Consensus Estimate by a penny.
Lower expense level was mainly responsible for the earnings beat.
How Was the Estimate Revision Trend?
You should note that the earnings estimate revisions for Invesco depicted pessimism prior to the earnings release. The Zacks Consensus Estimate has moved 5.2% lower over the last 30 days.
Further, Invesco doesn’t have a decent earnings surprise history. Before posting the earnings beat in Q2, the company delivered negative surprises in three of the prior four quarters, as evident from the chart below:
Revenue Came In Lower Than Expected
Invesco posted GAAP revenues of $1.19 billion, which marginally missed the Zacks Consensus Estimate of $1.20 billion. Also, it compared unfavorably with the year-ago number of $1.32 billion.
Key Statistics:
What Zacks Rank Says
The estimate revisions that we discussed earlier have driven a Zacks Rank #5 (Strong Sell) for Invesco. However, since the latest earnings performance is yet to be reflected in the estimate revisions, the rank is subject to change. While things apparently look favorable, it all depends on what sense the just-released report makes to the analysts.
Check back later for our full write up on this Invesco earnings report!
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report >>
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
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