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Federated Hermes (FHI) Reports Q2 Earnings: What Key Metrics Have to Say
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For the quarter ended June 2024, Federated Hermes (FHI - Free Report) reported revenue of $402.58 million, down 7.1% over the same period last year. EPS came in at $0.96, compared to $0.81 in the year-ago quarter.
The reported revenue represents a surprise of +1.31% over the Zacks Consensus Estimate of $397.38 million. With the consensus EPS estimate being $0.89, the EPS surprise was +7.87%.
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 Federated Hermes performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Managed Assets - Asset Class - Alternative / private markets: $20.06 billion versus $20.64 billion estimated by two analysts on average.
Managed Assets - Asset Class - Multi-asset: $2.88 billion compared to the $2.84 billion average estimate based on two analysts.
Managed Assets - Asset Class - Total long-term assets: $196.08 billion versus the two-analyst average estimate of $195.26 billion.
Managed Assets - Asset Class - Money market: $586.65 billion compared to the $560.22 billion average estimate based on two analysts.
Managed Assets - Product Type - Alternative / private markets: $12.26 billion versus $12.51 billion estimated by two analysts on average.
Managed Assets - Product Type - Multi-asset: $2.74 billion versus the two-analyst average estimate of $2.70 billion.
Managed Assets - Asset Class - Fixed-income: $95.29 billion versus the two-analyst average estimate of $93.55 billion.
Managed Assets - Separate Accounts - Alternative / private markets: $7.80 billion versus the two-analyst average estimate of $8.13 billion.
Managed Assets - Separate Accounts - Multi-asset: $133 million versus $137.25 million estimated by two analysts on average.
Revenue- Administrative service fees, net: $95.35 million versus the two-analyst average estimate of $91.47 million. The reported number represents a year-over-year change of +11.9%.
Revenue- Other service fees, net: $36.62 million versus the two-analyst average estimate of $36.99 million. The reported number represents a year-over-year change of -2.9%.
Revenue- Investment advisory fees, net: $270.62 million compared to the $267.01 million average estimate based on two analysts. The reported number represents a change of -12.8% year over year.
Shares of Federated Hermes have returned +6.5% over the past month versus the Zacks S&P 500 composite's -0.3% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.
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Federated Hermes (FHI) Reports Q2 Earnings: What Key Metrics Have to Say
For the quarter ended June 2024, Federated Hermes (FHI - Free Report) reported revenue of $402.58 million, down 7.1% over the same period last year. EPS came in at $0.96, compared to $0.81 in the year-ago quarter.
The reported revenue represents a surprise of +1.31% over the Zacks Consensus Estimate of $397.38 million. With the consensus EPS estimate being $0.89, the EPS surprise was +7.87%.
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 Federated Hermes performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Managed Assets - Asset Class - Alternative / private markets: $20.06 billion versus $20.64 billion estimated by two analysts on average.
- Managed Assets - Asset Class - Multi-asset: $2.88 billion compared to the $2.84 billion average estimate based on two analysts.
- Managed Assets - Asset Class - Total long-term assets: $196.08 billion versus the two-analyst average estimate of $195.26 billion.
- Managed Assets - Asset Class - Money market: $586.65 billion compared to the $560.22 billion average estimate based on two analysts.
- Managed Assets - Product Type - Alternative / private markets: $12.26 billion versus $12.51 billion estimated by two analysts on average.
- Managed Assets - Product Type - Multi-asset: $2.74 billion versus the two-analyst average estimate of $2.70 billion.
- Managed Assets - Asset Class - Fixed-income: $95.29 billion versus the two-analyst average estimate of $93.55 billion.
- Managed Assets - Separate Accounts - Alternative / private markets: $7.80 billion versus the two-analyst average estimate of $8.13 billion.
- Managed Assets - Separate Accounts - Multi-asset: $133 million versus $137.25 million estimated by two analysts on average.
- Revenue- Administrative service fees, net: $95.35 million versus the two-analyst average estimate of $91.47 million. The reported number represents a year-over-year change of +11.9%.
- Revenue- Other service fees, net: $36.62 million versus the two-analyst average estimate of $36.99 million. The reported number represents a year-over-year change of -2.9%.
- Revenue- Investment advisory fees, net: $270.62 million compared to the $267.01 million average estimate based on two analysts. The reported number represents a change of -12.8% year over year.
View all Key Company Metrics for Federated Hermes here>>>Shares of Federated Hermes have returned +6.5% over the past month versus the Zacks S&P 500 composite's -0.3% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.