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T. Rowe (TROW) Q2 Earnings: How Key Metrics Compare to Wall Street Estimates
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T. Rowe Price (TROW - Free Report) reported $1.73 billion in revenue for the quarter ended June 2024, representing a year-over-year increase of 7.7%. EPS of $2.26 for the same period compares to $2.02 a year ago.
The reported revenue represents a surprise of -3.09% over the Zacks Consensus Estimate of $1.79 billion. With the consensus EPS estimate being $2.25, the EPS surprise was +0.44%.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
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 T. Rowe performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Assets Under Management - Total: $1,569.1 billion versus the three-analyst average estimate of $1,571.93 billion.
Assets Under Management (EOP) - Equity: $810.3 billion versus $812.38 billion estimated by three analysts on average.
Net cash inflows - Total: $-3.7 billion versus $-11.13 billion estimated by three analysts on average.
Assets Under Management (EOP) - Multi-asset: $529.1 billion compared to the $526.79 billion average estimate based on three analysts.
Assets Under Management (EOP) - Alternatives: $49.8 billion compared to the $50.39 billion average estimate based on three analysts.
Net revenues- Capital allocation-based income: $0.10 million versus $47.95 million estimated by four analysts on average. Compared to the year-ago quarter, this number represents a -99.7% change.
Net revenues- Administrative, distribution and servicing fees: $147.60 million versus $158.33 million estimated by three analysts on average. Compared to the year-ago quarter, this number represents a +4.9% change.
Net revenues- Investment Advisory Fees- Alternatives: $91.70 million versus the three-analyst average estimate of $81.58 million.
Net revenues- Investment Advisory Fees- Fixed income, including money market: $100.20 million versus $101.92 million estimated by three analysts on average.
Net revenues- Investment Advisory Fees- Multi-asset: $444.80 million compared to the $441.94 million average estimate based on three analysts.
Net revenues- Investment advisory fees: $1.59 billion versus the three-analyst average estimate of $1.58 billion. The reported number represents a year-over-year change of +10.8%.
Net revenues- Investment Advisory Fees- Equity: $948.90 million versus the three-analyst average estimate of $956.88 million.
Shares of T. Rowe have returned +0.1% over the past month versus the Zacks S&P 500 composite's -1.2% change. The stock currently has a Zacks Rank #2 (Buy), indicating that it could outperform the broader market in the near term.
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T. Rowe (TROW) Q2 Earnings: How Key Metrics Compare to Wall Street Estimates
T. Rowe Price (TROW - Free Report) reported $1.73 billion in revenue for the quarter ended June 2024, representing a year-over-year increase of 7.7%. EPS of $2.26 for the same period compares to $2.02 a year ago.
The reported revenue represents a surprise of -3.09% over the Zacks Consensus Estimate of $1.79 billion. With the consensus EPS estimate being $2.25, the EPS surprise was +0.44%.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
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 T. Rowe performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Assets Under Management - Total: $1,569.1 billion versus the three-analyst average estimate of $1,571.93 billion.
- Assets Under Management (EOP) - Equity: $810.3 billion versus $812.38 billion estimated by three analysts on average.
- Net cash inflows - Total: $-3.7 billion versus $-11.13 billion estimated by three analysts on average.
- Assets Under Management (EOP) - Multi-asset: $529.1 billion compared to the $526.79 billion average estimate based on three analysts.
- Assets Under Management (EOP) - Alternatives: $49.8 billion compared to the $50.39 billion average estimate based on three analysts.
- Net revenues- Capital allocation-based income: $0.10 million versus $47.95 million estimated by four analysts on average. Compared to the year-ago quarter, this number represents a -99.7% change.
- Net revenues- Administrative, distribution and servicing fees: $147.60 million versus $158.33 million estimated by three analysts on average. Compared to the year-ago quarter, this number represents a +4.9% change.
- Net revenues- Investment Advisory Fees- Alternatives: $91.70 million versus the three-analyst average estimate of $81.58 million.
- Net revenues- Investment Advisory Fees- Fixed income, including money market: $100.20 million versus $101.92 million estimated by three analysts on average.
- Net revenues- Investment Advisory Fees- Multi-asset: $444.80 million compared to the $441.94 million average estimate based on three analysts.
- Net revenues- Investment advisory fees: $1.59 billion versus the three-analyst average estimate of $1.58 billion. The reported number represents a year-over-year change of +10.8%.
- Net revenues- Investment Advisory Fees- Equity: $948.90 million versus the three-analyst average estimate of $956.88 million.
View all Key Company Metrics for T. Rowe here>>>Shares of T. Rowe have returned +0.1% over the past month versus the Zacks S&P 500 composite's -1.2% change. The stock currently has a Zacks Rank #2 (Buy), indicating that it could outperform the broader market in the near term.