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T. Rowe (TROW) Reports Q3 Earnings: What Key Metrics Have to Say
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For the quarter ended September 2024, T. Rowe Price (TROW - Free Report) reported revenue of $1.79 billion, up 6.9% over the same period last year. EPS came in at $2.57, compared to $2.17 in the year-ago quarter.
The reported revenue compares to the Zacks Consensus Estimate of $1.84 billion, representing a surprise of -2.75%. The company delivered an EPS surprise of +8.90%, with the consensus EPS estimate being $2.36.
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.
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 T. Rowe performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Assets Under Management (EOP) - Equity: $813.1 billion versus $833.99 billion estimated by three analysts on average.
Assets Under Management (EOP) - Multi-asset: $542.3 billion versus $554.11 billion estimated by three analysts on average.
Net cash inflows - Total: $-12.2 billion compared to the $-4 billion average estimate based on three analysts.
Assets Under Management - Total: $1,589.5 billion versus $1,626.61 billion estimated by three analysts on average.
Assets Under Management (EOP) - Fixed income, including money market: $183.3 billion compared to the $187.3 billion average estimate based on three analysts.
Net revenues- Capital allocation-based income: $4.60 million versus $42.37 million estimated by four analysts on average. Compared to the year-ago quarter, this number represents a -93% change.
Net revenues- Administrative, distribution and servicing fees: $148.10 million compared to the $156 million average estimate based on four analysts. The reported number represents a change of +5.3% year over year.
Net revenues- Investment Advisory Fees- Fixed income, including money market: $104.10 million versus the three-analyst average estimate of $105.44 million.
Net revenues- Investment Advisory Fees- Multi-asset: $465.80 million compared to the $464.49 million average estimate based on three analysts.
Net revenues- Investment Advisory Fees- Alternatives: $84.50 million versus $86.02 million estimated by three analysts on average.
Net revenues- Investment advisory fees: $1.63 billion versus $1.64 billion estimated by three analysts on average. Compared to the year-ago quarter, this number represents a +11.5% change.
Net revenues- Investment Advisory Fees- Equity: $978.50 million versus the three-analyst average estimate of $978.19 million.
Shares of T. Rowe have returned +3.2% over the past month versus the Zacks S&P 500 composite's -1% change. The stock currently has a Zacks Rank #2 (Buy), indicating that it could outperform the broader market in the near term.
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T. Rowe (TROW) Reports Q3 Earnings: What Key Metrics Have to Say
For the quarter ended September 2024, T. Rowe Price (TROW - Free Report) reported revenue of $1.79 billion, up 6.9% over the same period last year. EPS came in at $2.57, compared to $2.17 in the year-ago quarter.
The reported revenue compares to the Zacks Consensus Estimate of $1.84 billion, representing a surprise of -2.75%. The company delivered an EPS surprise of +8.90%, with the consensus EPS estimate being $2.36.
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.
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 T. Rowe performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Assets Under Management (EOP) - Equity: $813.1 billion versus $833.99 billion estimated by three analysts on average.
- Assets Under Management (EOP) - Multi-asset: $542.3 billion versus $554.11 billion estimated by three analysts on average.
- Net cash inflows - Total: $-12.2 billion compared to the $-4 billion average estimate based on three analysts.
- Assets Under Management - Total: $1,589.5 billion versus $1,626.61 billion estimated by three analysts on average.
- Assets Under Management (EOP) - Fixed income, including money market: $183.3 billion compared to the $187.3 billion average estimate based on three analysts.
- Net revenues- Capital allocation-based income: $4.60 million versus $42.37 million estimated by four analysts on average. Compared to the year-ago quarter, this number represents a -93% change.
- Net revenues- Administrative, distribution and servicing fees: $148.10 million compared to the $156 million average estimate based on four analysts. The reported number represents a change of +5.3% year over year.
- Net revenues- Investment Advisory Fees- Fixed income, including money market: $104.10 million versus the three-analyst average estimate of $105.44 million.
- Net revenues- Investment Advisory Fees- Multi-asset: $465.80 million compared to the $464.49 million average estimate based on three analysts.
- Net revenues- Investment Advisory Fees- Alternatives: $84.50 million versus $86.02 million estimated by three analysts on average.
- Net revenues- Investment advisory fees: $1.63 billion versus $1.64 billion estimated by three analysts on average. Compared to the year-ago quarter, this number represents a +11.5% change.
- Net revenues- Investment Advisory Fees- Equity: $978.50 million versus the three-analyst average estimate of $978.19 million.
View all Key Company Metrics for T. Rowe here>>>Shares of T. Rowe have returned +3.2% over the past month versus the Zacks S&P 500 composite's -1% change. The stock currently has a Zacks Rank #2 (Buy), indicating that it could outperform the broader market in the near term.