ATLANTA - Invesco Ltd. (NYSE: IVZ) reported a first-quarter adjusted earnings per share (EPS) of $0.33, falling short of the analyst consensus of $0.40.
Despite the earnings miss, the company's revenue for the quarter reached $1.47 billion, surpassing the consensus estimate of $1.08 billion. Following the announcement, Invesco's stock saw a modest increase of 0.58%.
Invesco's President and CEO, Andrew Schlossberg, attributed the strong revenue performance to robust organic growth, particularly in the company's global ETF platform and net long-term flows in Fundamental Fixed Income and Private Markets. Schlossberg emphasized Invesco's market position and the broad suite of investment solutions as key factors in navigating various market cycles and staying ahead of industry evolution.
The company also highlighted its strategic efforts to streamline operations and maintain financial discipline, which have contributed to operating efficiencies and a stronger balance sheet. In recognition of its solid cash position and stable cash flows, Invesco announced an increase in its quarterly common stock dividend to $0.205 per share.
Invesco's assets under management (AUM) ended the quarter at $1,662.7 billion, marking a 4.9% increase from the previous quarter and a significant 12.1% increase from the same quarter last year. The company experienced $6.3 billion of net long-term inflows, primarily driven by ETFs and Index, Fundamental Fixed Income, and Private Markets.
The financial results also indicated a 4.0% increase in operating revenues compared to the first quarter of the previous year, while adjusted operating income saw a decrease of 9.3% in the same period. The adjusted operating margin for the quarter was reported at 28.2%.
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