Invesco Ltd. (NYSE: IVZ) released its financial results for the three months ended June 30, 2024, revealing several key metrics and changes compared to the previous period.
The company reported $16.7 billion of net long-term inflows for the quarter, a significant increase from the $6.3 billion reported in the first quarter of 2024. This marked growth was primarily driven by inflows from ETFs and index, APAC managed, private markets, and fundamental fixed income.
Ending assets under management (AUM) grew 12% year-over-year to a record high of $1.7 trillion, representing a 3.2% increase from the prior quarter.
In terms of operating margin, Invesco reported 13.9% for the quarter and an adjusted operating margin of 30.9%, showcasing an improvement from the previous quarter.
The company saw a notable increase in its adjusted diluted earnings per share (EPS), with a reported figure of $0.43, signifying a 30.3% increase from the first quarter of 2024 and a substantial 38.7% rise from the same period the previous year.
In addition, net debt decreased significantly to $11.6 million at June 30, 2024, compared to $361.8 million at March 31, 2024, demonstrating a marked improvement in the company's financial position.
The second quarter also saw a positive change in operating revenues, which increased by 0.5% compared to the first quarter, reaching $1,483.3 million. Adjusted operating income grew by 13.1% to $335.3 million, and adjusted net income attributable to Invesco Ltd. surged by 32.2% to $196.2 million.
Assets under management also experienced growth, with ending AUM reaching $1,715.8 billion, marking a 3.2% increase from the previous quarter and an impressive 11.5% surge year-over-year.
Following these announcements, the company's shares moved 2.2%, and are now trading at a price of $16.84. Check out the company's full 8-K submission here.
