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Federated Hermes (FHI) Q4 Earnings: How Key Metrics Compare to Wall Street Estimates
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For the quarter ended December 2023, Federated Hermes (FHI - Free Report) reported revenue of $200.76 million, down 46.3% over the same period last year. EPS came in at $0.62, compared to $0.90 in the year-ago quarter.
The reported revenue compares to the Zacks Consensus Estimate of $396.36 million, representing a surprise of -49.35%. The company delivered an EPS surprise of -26.19%, with the consensus EPS estimate being $0.84.
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: $153.83 billion versus the two-analyst average estimate of $144.89 billion.
Managed Assets - Asset Class - Total Managed Assets: $757.62 million versus the two-analyst average estimate of $719.88 million.
Managed Assets - Asset Class - Equity: $79.29 billion compared to the $80.98 billion average estimate based on two analysts.
Managed Assets - Asset Class - Fixed-income: $94.92 billion versus $91.48 billion estimated by two analysts on average.
Managed Assets - Asset Class - Alternative / private markets: $20.55 billion compared to the $20.76 billion average estimate based on two analysts.
Managed Assets - Asset Class - Multi-asset: $2.87 billion versus the two-analyst average estimate of $2.77 billion.
Managed Assets - Separate Accounts - Multi-asset: $137 million versus $181.24 million estimated by two analysts on average.
Managed Assets - Asset Class - Money market: $559.99 billion compared to the $523.88 billion average estimate based on two analysts.
Managed Assets - Product Type - Alternative / private markets: $12.38 billion versus the two-analyst average estimate of $12.69 billion.
Revenue- Investment advisory fees, net: $264.69 million compared to the $273.52 million average estimate based on two analysts. The reported number represents a change of +3% year over year.
Revenue- Other service fees, net: $35.87 million compared to the $39.17 million average estimate based on two analysts. The reported number represents a change of -12.7% year over year.
Revenue- Administrative service fees, net: $90.93 million versus $84.57 million estimated by two analysts on average. Compared to the year-ago quarter, this number represents a +19.9% change.
Shares of Federated Hermes have returned +1% over the past month versus the Zacks S&P 500 composite's +2.5% 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) Q4 Earnings: How Key Metrics Compare to Wall Street Estimates
For the quarter ended December 2023, Federated Hermes (FHI - Free Report) reported revenue of $200.76 million, down 46.3% over the same period last year. EPS came in at $0.62, compared to $0.90 in the year-ago quarter.
The reported revenue compares to the Zacks Consensus Estimate of $396.36 million, representing a surprise of -49.35%. The company delivered an EPS surprise of -26.19%, with the consensus EPS estimate being $0.84.
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: $153.83 billion versus the two-analyst average estimate of $144.89 billion.
- Managed Assets - Asset Class - Total Managed Assets: $757.62 million versus the two-analyst average estimate of $719.88 million.
- Managed Assets - Asset Class - Equity: $79.29 billion compared to the $80.98 billion average estimate based on two analysts.
- Managed Assets - Asset Class - Fixed-income: $94.92 billion versus $91.48 billion estimated by two analysts on average.
- Managed Assets - Asset Class - Alternative / private markets: $20.55 billion compared to the $20.76 billion average estimate based on two analysts.
- Managed Assets - Asset Class - Multi-asset: $2.87 billion versus the two-analyst average estimate of $2.77 billion.
- Managed Assets - Separate Accounts - Multi-asset: $137 million versus $181.24 million estimated by two analysts on average.
- Managed Assets - Asset Class - Money market: $559.99 billion compared to the $523.88 billion average estimate based on two analysts.
- Managed Assets - Product Type - Alternative / private markets: $12.38 billion versus the two-analyst average estimate of $12.69 billion.
- Revenue- Investment advisory fees, net: $264.69 million compared to the $273.52 million average estimate based on two analysts. The reported number represents a change of +3% year over year.
- Revenue- Other service fees, net: $35.87 million compared to the $39.17 million average estimate based on two analysts. The reported number represents a change of -12.7% year over year.
- Revenue- Administrative service fees, net: $90.93 million versus $84.57 million estimated by two analysts on average. Compared to the year-ago quarter, this number represents a +19.9% change.
View all Key Company Metrics for Federated Hermes here>>>Shares of Federated Hermes have returned +1% over the past month versus the Zacks S&P 500 composite's +2.5% 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.