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Compared to Estimates, Federated Hermes (FHI) Q3 Earnings: A Look at Key Metrics
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Federated Hermes (FHI - Free Report) reported $402.66 million in revenue for the quarter ended September 2023, representing a year-over-year increase of 5.7%. EPS of $0.86 for the same period compares to $0.78 a year ago.
The reported revenue compares to the Zacks Consensus Estimate of $400.87 million, representing a surprise of +0.45%. The company delivered an EPS surprise of +4.88%, with the consensus EPS estimate being $0.82.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
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 - Asset Class - Alternative / private markets: $20.34 billion versus $21.60 billion estimated by two analysts on average.
Managed Assets - Asset Class - Multi-asset: $2.73 billion versus $2.93 billion estimated by two analysts on average.
Managed Assets - Asset Class - Total long-term assets: $190.15 billion versus $192.70 billion estimated by two analysts on average.
Managed Assets - Asset Class - Money market: $525.09 billion versus the two-analyst average estimate of $509.14 billion.
Managed Assets - Product Type - Alternative / private markets: $12.41 billion versus $13.41 billion estimated by two analysts on average.
Managed Assets - Product Type - Multi-asset: $2.60 billion versus the two-analyst average estimate of $2.80 billion.
Managed Assets - Asset Class - Fixed-income: $89.77 billion versus the two-analyst average estimate of $87.94 billion.
Managed Assets - Separate Accounts - Alternative / private markets: $7.93 billion compared to the $8.11 billion average estimate based on two analysts.
Managed Assets - Separate Accounts - Multi-asset: $129 million versus $226.79 million estimated by two analysts on average.
Revenue- Administrative service fees, net: $88.02 million compared to the $83.23 million average estimate based on two analysts. The reported number represents a change of +17.3% year over year.
Revenue- Other service fees, net: $37.86 million versus the two-analyst average estimate of $39.70 million. The reported number represents a year-over-year change of -10.9%.
Revenue- Investment advisory fees, net: $276.77 million compared to the $278.49 million average estimate based on two analysts. The reported number represents a change of +5% year over year.
Shares of Federated Hermes have returned -9.6% over the past month versus the Zacks S&P 500 composite's -3.4% 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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Compared to Estimates, Federated Hermes (FHI) Q3 Earnings: A Look at Key Metrics
Federated Hermes (FHI - Free Report) reported $402.66 million in revenue for the quarter ended September 2023, representing a year-over-year increase of 5.7%. EPS of $0.86 for the same period compares to $0.78 a year ago.
The reported revenue compares to the Zacks Consensus Estimate of $400.87 million, representing a surprise of +0.45%. The company delivered an EPS surprise of +4.88%, with the consensus EPS estimate being $0.82.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
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 - Asset Class - Alternative / private markets: $20.34 billion versus $21.60 billion estimated by two analysts on average.
- Managed Assets - Asset Class - Multi-asset: $2.73 billion versus $2.93 billion estimated by two analysts on average.
- Managed Assets - Asset Class - Total long-term assets: $190.15 billion versus $192.70 billion estimated by two analysts on average.
- Managed Assets - Asset Class - Money market: $525.09 billion versus the two-analyst average estimate of $509.14 billion.
- Managed Assets - Product Type - Alternative / private markets: $12.41 billion versus $13.41 billion estimated by two analysts on average.
- Managed Assets - Product Type - Multi-asset: $2.60 billion versus the two-analyst average estimate of $2.80 billion.
- Managed Assets - Asset Class - Fixed-income: $89.77 billion versus the two-analyst average estimate of $87.94 billion.
- Managed Assets - Separate Accounts - Alternative / private markets: $7.93 billion compared to the $8.11 billion average estimate based on two analysts.
- Managed Assets - Separate Accounts - Multi-asset: $129 million versus $226.79 million estimated by two analysts on average.
- Revenue- Administrative service fees, net: $88.02 million compared to the $83.23 million average estimate based on two analysts. The reported number represents a change of +17.3% year over year.
- Revenue- Other service fees, net: $37.86 million versus the two-analyst average estimate of $39.70 million. The reported number represents a year-over-year change of -10.9%.
- Revenue- Investment advisory fees, net: $276.77 million compared to the $278.49 million average estimate based on two analysts. The reported number represents a change of +5% year over year.
View all Key Company Metrics for Federated Hermes here>>>Shares of Federated Hermes have returned -9.6% over the past month versus the Zacks S&P 500 composite's -3.4% 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.