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Virtus Investment Partners Announces Financial Results for Third Quarter 2022
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PR Newswire
HARTFORD, Conn., Oct. 26, 2022
- Earnings Per Share - Diluted of $4.25; Earnings Per Share - Diluted, as Adjusted, of $5.76
- Total Sales of $5.7B; Net Flows of ($3.3B); Assets Under Management of $145.0B
HARTFORD, Conn., Oct. 26, 2022 /PRNewswire/ -- Virtus Investment Partners, Inc. (NASDAQ: VRTS) today reported financial results for the three months ended September 30, 2022.
| Financial Highlights (Unaudited) | |||||||||
| (in millions, except per share data or as noted) | |||||||||
| | |||||||||
| | Three Months Ended | | | | Three Months Ended | | | ||
| | 9/30/2022 | | 9/30/2021 | | Change | | 6/30/2022 | | Change |
| U.S. GAAP Financial Measures | | | | | | | | | |
| Revenues | $ 210.3 | | $ 252.1 | | (17 %) | | $ 225.3 | | (7 %) |
| Operating expenses | $ 166.2 | | $ 158.8 | | 5 % | | $ 168.6 | | (1 %) |
| Operating income (loss) | $ 44.0 | | $ 93.3 | | (53 %) | | $ 56.7 | | (22 %) |
| Operating margin | 20.9 % | | 37.0 % | | | | 25.2 % | | |
| Net income (loss) attributable to Virtus Investment Partners, Inc. | $ 31.7 | | $ 58.7 | | (46 %) | | $ 17.4 | | 82 % |
| Earnings (loss) per share - diluted | $ 4.25 | | $ 7.36 | | (42 %) | | $ 2.29 | | 86 % |
| Weighted average shares outstanding - diluted | 7.463 | | 7.984 | | (7 %) | | 7.607 | | (2 %) |
| | | | | | | | | | |
| Non-GAAP Financial Measures (1) | | | | | | | | | |
| Revenues, as adjusted | $ 185.7 | | $ 217.7 | | (15 %) | | $ 199.0 | | (7 %) |
| Operating expenses, as adjusted | $ 120.8 | | $ 107.6 | | 12 % | | $ 121.0 | | — % |
| Operating income (loss), as adjusted | $ 64.9 | | $ 110.1 | | (41 %) | | $ 78.0 | | (17 %) |
| Operating margin, as adjusted | 35.0 % | | 50.6 % | | | | 39.2 % | | |
| Net income (loss) attributable to Virtus Investment Partners, Inc., as adjusted | $ 43.0 | | $ 77.5 | | (45 %) | | $ 52.2 | | (18 %) |
| Earnings (loss) per share - diluted, as adjusted | $ 5.76 | | $ 9.71 | | (41 %) | | $ 6.86 | | (16 %) |
| Weighted average shares outstanding - diluted, as adjusted | 7.463 | | 7.984 | | (7 %) | | 7.607 | | (2 %) |
| |
| (1) See the information beginning on page 10 for reconciliations to the most directly comparable U.S. GAAP measures and other important disclosures |
Earnings Summary
The company presents U.S. GAAP and non-GAAP earnings information in this release. Management believes that the non-GAAP financial measures presented reflect the company's operating results from providing investment management and related services to individuals and institutions and uses these measures to evaluate financial performance. Non-GAAP financial measures have material limitations and should not be viewed in isolation or as a substitute for U.S. GAAP measures. Reconciliations of the non-GAAP financial measures to the most comparable U.S. GAAP measures can be found beginning on page 10 of this earnings release.
| Assets Under Management and Asset Flows | | |||||||||
| (in billions) | | |||||||||
| | | |||||||||
| | Three Months Ended Werbung Mehr Nachrichten zur Virtus Investment Partners Aktie kostenlos abonnieren
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