We use cookies to understand how you use our site and to improve your experience.
This includes personalizing content and advertising.
By pressing "Accept All" or closing out of this banner, you consent to the use of all cookies and similar technologies and the sharing of information they collect with third parties.
You can reject marketing cookies by pressing "Deny Optional," but we still use essential, performance, and functional cookies.
In addition, whether you "Accept All," Deny Optional," click the X or otherwise continue to use the site, you accept our Privacy Policy and Terms of Service, revised from time to time.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Invesco Q4 Earnings Beat Estimates on Y/Y Revenue Increase, Stock Up
Read MoreHide Full Article
Invesco’s (IVZ - Free Report) fourth-quarter 2024 adjusted earnings of 52 cents per share surpassed the Zacks Consensus Estimate of 49 cents. Moreover, the bottom line increased 10.6% from the prior-year quarter.
Stay up-to-date with all quarterly releases: See Zacks Earnings Calendar.
The results were primarily aided by a decline in adjusted expenses and higher adjusted net revenues. An increase in the assets under management (AUM) balance on decent inflows was a positive too. In light of these positives, shares of the company were up 1.4% in the pre-market trading session.
Results in the reported quarter included certain notable items. After considering those, net income attributable to common shareholders was $209.3 million or 46 cents per share against a loss of $742.3 million or $1.64 per share in the year-ago quarter.
For 2024, adjusted earnings per share of $1.71 beat the consensus estimate of $1.68 and rose 13.2% year over year. Net income attributable to common shareholders (GAAP) was $538 million or $1.18 per share against a net loss of $333.7 million or 73 cents per share a year ago.
Adjusted net revenues in the quarter were $1.16 billion, up 10.6% year over year. The top line met the Zacks Consensus Estimate.
For 2024, net revenues were $4.40 billion, up 2.1% year over year. The top line matched the Zacks Consensus Estimate.
Adjusted operating expenses were $767.1 million, down marginally on a year-over-year basis.
The adjusted operating margin was 33.7%, up from 26.3% a year ago.
IVZ’s AUM Balance Increases
As of Dec. 31, 2024, AUM was $1.85 trillion, up 16.4% year over year. The average AUM at the end of the fourth quarter totaled $1.82 trillion, up 20.4%.
The company witnessed long-term net inflows of $25.6 billion in the reported quarter.
Invesco’s Strong Balance Sheet
As of Dec. 31, 2024, cash and cash equivalents were $986.5 million compared with $1.47 billion as of Dec. 31, 2023.
The long-term debt was $890.6 million.
Our View on IVZ
Invesco is well-poised to benefit from its solid global presence, diverse offerings, and strategic buyouts. Further, measures to improve efficiency will likely keep expenses at a manageable level. However, a tough operating backdrop and high levels of intangible assets on the balance sheet are major near-term concerns.
BlackRock’s (BLK - Free Report) fourth-quarter 2024 adjusted earnings of $11.93 per share surpassed the Zacks Consensus Estimate of $11.44. The figure reflects a rise of 23.5% from the year-ago quarter.
BLK’s results benefited from a rise in revenues. AUM witnessed robust growth and touched the $11.55 trillion mark driven by net inflows, partially offset by market depreciation and negative forex impact. However, higher expenses and lower non-operating income acted as headwinds.
An Asset Manager Due to Report
Blackstone (BX - Free Report) is slated to report its fourth quarter and full-year 2024 results on Jan. 30.
Over the past seven days, the Zacks Consensus Estimate for BX’s quarterly earnings has been revised 3.3% downward to $1.46 per share.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Invesco Q4 Earnings Beat Estimates on Y/Y Revenue Increase, Stock Up
Invesco’s (IVZ - Free Report) fourth-quarter 2024 adjusted earnings of 52 cents per share surpassed the Zacks Consensus Estimate of 49 cents. Moreover, the bottom line increased 10.6% from the prior-year quarter.
Stay up-to-date with all quarterly releases: See Zacks Earnings Calendar.
The results were primarily aided by a decline in adjusted expenses and higher adjusted net revenues. An increase in the assets under management (AUM) balance on decent inflows was a positive too. In light of these positives, shares of the company were up 1.4% in the pre-market trading session.
Results in the reported quarter included certain notable items. After considering those, net income attributable to common shareholders was $209.3 million or 46 cents per share against a loss of $742.3 million or $1.64 per share in the year-ago quarter.
For 2024, adjusted earnings per share of $1.71 beat the consensus estimate of $1.68 and rose 13.2% year over year. Net income attributable to common shareholders (GAAP) was $538 million or $1.18 per share against a net loss of $333.7 million or 73 cents per share a year ago.
Invesco’s Adjusted Revenues Rise, Adjusted Expenses Decline
Adjusted net revenues in the quarter were $1.16 billion, up 10.6% year over year. The top line met the Zacks Consensus Estimate.
For 2024, net revenues were $4.40 billion, up 2.1% year over year. The top line matched the Zacks Consensus Estimate.
Adjusted operating expenses were $767.1 million, down marginally on a year-over-year basis.
The adjusted operating margin was 33.7%, up from 26.3% a year ago.
IVZ’s AUM Balance Increases
As of Dec. 31, 2024, AUM was $1.85 trillion, up 16.4% year over year. The average AUM at the end of the fourth quarter totaled $1.82 trillion, up 20.4%.
The company witnessed long-term net inflows of $25.6 billion in the reported quarter.
Invesco’s Strong Balance Sheet
As of Dec. 31, 2024, cash and cash equivalents were $986.5 million compared with $1.47 billion as of Dec. 31, 2023.
The long-term debt was $890.6 million.
Our View on IVZ
Invesco is well-poised to benefit from its solid global presence, diverse offerings, and strategic buyouts. Further, measures to improve efficiency will likely keep expenses at a manageable level. However, a tough operating backdrop and high levels of intangible assets on the balance sheet are major near-term concerns.
Invesco Ltd. Price, Consensus and EPS Surprise
Invesco Ltd. price-consensus-eps-surprise-chart | Invesco Ltd. Quote
Currently, IVZ carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Performance of Another Asset Manager
BlackRock’s (BLK - Free Report) fourth-quarter 2024 adjusted earnings of $11.93 per share surpassed the Zacks Consensus Estimate of $11.44. The figure reflects a rise of 23.5% from the year-ago quarter.
BLK’s results benefited from a rise in revenues. AUM witnessed robust growth and touched the $11.55 trillion mark driven by net inflows, partially offset by market depreciation and negative forex impact. However, higher expenses and lower non-operating income acted as headwinds.
An Asset Manager Due to Report
Blackstone (BX - Free Report) is slated to report its fourth quarter and full-year 2024 results on Jan. 30.
Over the past seven days, the Zacks Consensus Estimate for BX’s quarterly earnings has been revised 3.3% downward to $1.46 per share.