Invesco Reports $6.3B Net Inflows

By Tamara Parker • Tuesday, April 23 10:27 • Permanent Link

Invesco Ltd. (NYSE: IVZ) has reported its financial results for the first quarter ending March 31, 2024. The company recorded $6.3 billion in net long-term inflows for the quarter, primarily driven by ETFs and index, fundamental fixed income, and private markets. The ending assets under management (AUM) increased by 4.9% from the prior quarter, reaching $1,662.7 billion.

The company achieved a 14.4% operating margin and a 28.2% adjusted operating margin. Invesco announced an increase in the quarterly common stock dividend to $0.205 per share, reflecting a strong cash position and stable cash flows.

Net long-term inflows for the first quarter of 2024 were $6.3 billion, compared to $6.7 billion in the fourth quarter of 2023. Retail net long-term inflows were $6.6 billion, while institutional net long-term outflows were $0.3 billion.

The company's operating revenues increased by 4.4% to $1,475.3 million, and the net income attributable to Invesco Ltd. was $141.5 million, resulting in a diluted EPS of $0.31. Adjusted operating income increased by 7.7% to $296.5 million, and the adjusted diluted EPS was $0.33, representing a decrease of 29.8% from the previous quarter.

Invesco's ending AUM increased by 4.9% to $1,662.7 billion, compared to the prior quarter, and the average AUM increased by 6.4% during the first quarter.

The company's cash and cash equivalents stood at $895.7 million at the end of March 31, 2024, while the debt was reported at $1,257.5 million. The net debt decreased to $361.8 million from $20.3 million at the end of December 31, 2023.

Invesco is declaring a first quarter cash dividend of $0.205 per share to holders of common shares, payable on June 4, 2024. The preferred cash dividend of $14.75 per share has also been declared.

Invesco Ltd. is a global independent investment management firm with offices in more than 20 countries, managing $1.7 trillion in assets on behalf of clients worldwide as of March 31, 2024. As a result of these announcements, the company's shares have moved -5.2% on the market, and are now trading at a price of $14.77. For the full picture, make sure to review Invesco's 8-K report.

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