Virtus Investment Partners, Inc. (NYSE: VRTS) has reported its financial results for the third quarter of 2025. The company's earnings per share * diluted were $4.65, while earnings per share * diluted, as adjusted, stood at $6.69. The total sales for the quarter were $6.3 billion, with net flows amounting to ($3.9) billion. The assets under management at the end of the quarter were $169.3 billion, a decrease of 1% from the previous quarter.
In terms of revenues, the company reported a 5% decrease in U.S. GAAP revenues, which amounted to $216.4 million. However, operating expenses decreased by 1% to $169.3 million, resulting in an operating income of $47.1 million, down 15% from the previous quarter.
On a non-GAAP basis, the company's revenues, as adjusted, decreased by 4% to $196.7 million. Operating income, as adjusted, was $65.0 million, marking an 8% decrease from the previous quarter.
The company's total sales saw a 12% increase from the previous quarter, reaching $6.3 billion. However, net flows remained unchanged at ($3.9) billion.
In terms of balance sheet items, the company's cash and cash equivalents increased by 90% to $370.6 million. Gross debt also saw a substantial increase, rising by 65% to $400.0 million.
The company's working capital doubled to $288.4 million at the end of the quarter, primarily due to net proceeds from debt refinancing. Additionally, the company increased its quarterly dividend by 7% to $2.40 per share.
The earnings per share * diluted, as adjusted, increased by 7% from the previous quarter to $6.69. The effective tax rate, as adjusted, remained essentially unchanged at 26%.
In terms of assets under management, the company's total assets under management at the end of the quarter amounted to $169.3 billion, with open-end funds accounting for $55.7 billion, closed-end funds for $10.9 billion, retail separate accounts for $46.8 billion, and institutional accounts for $55.9 billion.
The overall financial performance of Virtus Investment Partners, Inc. in the third quarter of 2025 reflects changes in various key metrics compared to the preceding quarter, with notable shifts in revenues, operating income, sales, net flows, and balance sheet items. As a result of these announcements, the company's shares have moved 0.16% on the market, and are now trading at a price of $177.44. If you want to know more, read the company's complete 8-K report here.
