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Federated Hermes (FHI) Reports Q2 Earnings: What Key Metrics Have to Say
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Federated Hermes (FHI - Free Report) reported $433.23 million in revenue for the quarter ended June 2023, representing a year-over-year increase of 18.4%. EPS of $0.81 for the same period compares to $0.74 a year ago.
The reported revenue compares to the Zacks Consensus Estimate of $392.73 million, representing a surprise of +10.31%. The company delivered an EPS surprise of +1.25%, with the consensus EPS estimate being $0.80.
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.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
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 - Asset Class - Total Managed Assets: $703.96 million versus the two-analyst average estimate of $699.86 million.
Revenue- Investment advisory fees, net: $310.34 million versus $271.42 million estimated by two analysts on average. Compared to the year-ago quarter, this number represents a +20.3% change.
Revenue- Other service fees, net: $37.70 million versus $42.26 million estimated by two analysts on average. Compared to the year-ago quarter, this number represents a -0.2% change.
Revenue- Administrative service fees, net: $85.20 million compared to the $79.12 million average estimate based on two analysts. The reported number represents a change of +21.4% year over year.
Shares of Federated Hermes have returned +3% over the past month versus the Zacks S&P 500 composite's +5.6% 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) Reports Q2 Earnings: What Key Metrics Have to Say
Federated Hermes (FHI - Free Report) reported $433.23 million in revenue for the quarter ended June 2023, representing a year-over-year increase of 18.4%. EPS of $0.81 for the same period compares to $0.74 a year ago.
The reported revenue compares to the Zacks Consensus Estimate of $392.73 million, representing a surprise of +10.31%. The company delivered an EPS surprise of +1.25%, with the consensus EPS estimate being $0.80.
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.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
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 - Asset Class - Total Managed Assets: $703.96 million versus the two-analyst average estimate of $699.86 million.
- Revenue- Investment advisory fees, net: $310.34 million versus $271.42 million estimated by two analysts on average. Compared to the year-ago quarter, this number represents a +20.3% change.
- Revenue- Other service fees, net: $37.70 million versus $42.26 million estimated by two analysts on average. Compared to the year-ago quarter, this number represents a -0.2% change.
- Revenue- Administrative service fees, net: $85.20 million compared to the $79.12 million average estimate based on two analysts. The reported number represents a change of +21.4% year over year.
View all Key Company Metrics for Federated Hermes here>>>Shares of Federated Hermes have returned +3% over the past month versus the Zacks S&P 500 composite's +5.6% 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.