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Envestnet (ENV) Reports Q4 Earnings: What Key Metrics Have to Say
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For the quarter ended December 2023, Envestnet (ENV - Free Report) reported revenue of $317.63 million, up 8.5% over the same period last year. EPS came in at $0.65, compared to $0.45 in the year-ago quarter.
The reported revenue represents a surprise of +1.73% over the Zacks Consensus Estimate of $312.24 million. With the consensus EPS estimate being $0.53, the EPS surprise was +22.64%.
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 Envestnet performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Platform Assets - Total AUM/A: $846.85 billion compared to the $791.36 billion average estimate based on three analysts.
Platform Assets - Assets under Administration (AUA): $430.85 billion versus the three-analyst average estimate of $402.27 billion.
Platform Assets - Assets under Management (AUM): $416 billion versus $389.09 billion estimated by three analysts on average.
Net Flows - AUM/A: $7.87 billion compared to the $12.08 billion average estimate based on two analysts.
Revenues- Recurring revenues- Asset-based: $188.64 million versus the four-analyst average estimate of $187.69 million. The reported number represents a year-over-year change of +13.4%.
Revenues- Total Recurring Revenues: $306.40 million versus $307.30 million estimated by four analysts on average. Compared to the year-ago quarter, this number represents a +6.5% change.
Revenues- Recurring revenues- Subscription-based: $117.75 million versus $117.11 million estimated by four analysts on average. Compared to the year-ago quarter, this number represents a -2.9% change.
Revenues- Professional services and other revenues: $11.24 million compared to the $10.85 million average estimate based on four analysts. The reported number represents a change of +115.1% year over year.
Revenues- Envestnet Data & Analytics- Recurring Revenue- Subscription-based: $33.57 million versus $38.45 million estimated by three analysts on average.
Revenues- Envestnet Data & Analytics- Professional services and other revenues: $5.08 million versus the two-analyst average estimate of $4.05 million.
Revenues- Envestnet Data & Analytics: $38.64 million compared to the $43.61 million average estimate based on two analysts. The reported number represents a change of -16% year over year.
Revenues- Envestnet Wealth Solutions- Recurring Revenue- Subscription-based: $84.18 million compared to the $80.04 million average estimate based on two analysts.
Shares of Envestnet have returned -4.2% over the past month versus the Zacks S&P 500 composite's +3.1% change. The stock currently has a Zacks Rank #1 (Strong Buy), indicating that it could outperform the broader market in the near term.
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Envestnet (ENV) Reports Q4 Earnings: What Key Metrics Have to Say
For the quarter ended December 2023, Envestnet (ENV - Free Report) reported revenue of $317.63 million, up 8.5% over the same period last year. EPS came in at $0.65, compared to $0.45 in the year-ago quarter.
The reported revenue represents a surprise of +1.73% over the Zacks Consensus Estimate of $312.24 million. With the consensus EPS estimate being $0.53, the EPS surprise was +22.64%.
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 Envestnet performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Platform Assets - Total AUM/A: $846.85 billion compared to the $791.36 billion average estimate based on three analysts.
- Platform Assets - Assets under Administration (AUA): $430.85 billion versus the three-analyst average estimate of $402.27 billion.
- Platform Assets - Assets under Management (AUM): $416 billion versus $389.09 billion estimated by three analysts on average.
- Net Flows - AUM/A: $7.87 billion compared to the $12.08 billion average estimate based on two analysts.
- Revenues- Recurring revenues- Asset-based: $188.64 million versus the four-analyst average estimate of $187.69 million. The reported number represents a year-over-year change of +13.4%.
- Revenues- Total Recurring Revenues: $306.40 million versus $307.30 million estimated by four analysts on average. Compared to the year-ago quarter, this number represents a +6.5% change.
- Revenues- Recurring revenues- Subscription-based: $117.75 million versus $117.11 million estimated by four analysts on average. Compared to the year-ago quarter, this number represents a -2.9% change.
- Revenues- Professional services and other revenues: $11.24 million compared to the $10.85 million average estimate based on four analysts. The reported number represents a change of +115.1% year over year.
- Revenues- Envestnet Data & Analytics- Recurring Revenue- Subscription-based: $33.57 million versus $38.45 million estimated by three analysts on average.
- Revenues- Envestnet Data & Analytics- Professional services and other revenues: $5.08 million versus the two-analyst average estimate of $4.05 million.
- Revenues- Envestnet Data & Analytics: $38.64 million compared to the $43.61 million average estimate based on two analysts. The reported number represents a change of -16% year over year.
- Revenues- Envestnet Wealth Solutions- Recurring Revenue- Subscription-based: $84.18 million compared to the $80.04 million average estimate based on two analysts.
View all Key Company Metrics for Envestnet here>>>Shares of Envestnet have returned -4.2% over the past month versus the Zacks S&P 500 composite's +3.1% change. The stock currently has a Zacks Rank #1 (Strong Buy), indicating that it could outperform the broader market in the near term.