ATLANTA – Invesco Ltd. (NYSE:IVZ) reported first-quarter adjusted earnings per share (EPS) of $0.33, below analysts’ consensus of $0.40.
Despite the miss in earnings, the company’s revenue for the quarter reached $1.47 billion, beating the consensus estimate of $1.08 billion. Following the announcement, Invesco’s shares rose a modest 0.58%.
Invesco President and CEO Andrew Schlossberg attributed the strong earnings performance specifically to solid organic growth in the company’s global ETF platform and net long-term flows in Core Fixed Income and Specialty Markets. Schlossberg highlighted Invesco’s market position and 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 contributes to operating efficiency and a stronger balance sheet. Due to its solid cash position and stable cash flows, Invesco announced that it is increasing its quarterly common stock dividend to $0.205 per share.
Invesco’s assets under management (AUM) stood at $1,662.7 billion, a significant increase of 4.9% compared to the previous quarter and 12.1% compared to the same quarter last year. The company experienced net long-term inflows of $6.3 billion, driven primarily by ETFs and Index, Core Fixed Income and Private Markets.
The financial results also indicate a 4.0% increase in operating income compared to the first quarter of the previous year, while adjusted operating income decreased by 9.3% in the same period. Adjusted operating margin for the quarter was reported as 28.2%.