Shares of Federated Hermes (NYSE:FHI) were flat in after-market trading after the company reported Q2 results.
Quarterly Results
Earnings per share decreased 30.00% over the past year to $0.56, which missed the estimate of $0.66.
Revenue of $311,040,000 decreased by 13.77% from the same period last year, which beat the estimate of $309,700,000.
Guidance
Federated Hermes hasn’t issued any earnings guidance for the time being.
Federated Hermes hasn’t issued any revenue guidance for the time being.
Details Of The Call
Date: Jul 29, 2021
Time: 09:00 AM
ET Webcast URL: https://www.federatedhermes.com/
Recent Stock Performance
52-week high: $34.64
Company’s 52-week low was at $20.34
Price action over last quarter: Up 15.00%
Company Description
Federated provides asset management services for institutional and individual investors. We estimate that the company will have $633 billion in managed assets at the end of June 2021, composed of equity (16%), multiasset (1%), fixed-income (14%), alternative (3%), and money market (66%) funds. That said, the firm’s cash-management operations are expected to generate around a quarter of Federated’s revenue this year, compared with 50%, 15%, and 10%, respectively, for the firm’s equity, fixed-income and alternatives/multi-asset operations. From a channel perspective, the company’s products are distributed via trust banks, wealth managers and retail broker/dealers (62% of AUM), institutional investors (25%), and international clients (13%).
