NASDAQ$VCTR

Victory Capital Holdings Inc · Q1 2023 earnings

Q1 2023 earnings · · Investor relations

Briefing

Reported strong financial results, with solid Adjusted EBITDA margin and improved net flows compared to the previous quarter.

Victory Capital reported a decrease in revenue compared to the same quarter last year, but AUM increased compared to the previous quarter. The Adjusted EBITDA margin remained strong. The board authorized a new share repurchase plan and declared a dividend.

  • Total Assets Under Management of $158.6 billion.
  • Long-term gross flows of $5.8 billion.
  • GAAP operating margin of 37.0%.
  • Adjusted net income with tax benefit of $1.08 per diluted share.

Headline financials

Total Revenue

$200M

Previous: $229M-12.5%
EPS (adj)

$1.08

Previous: $1.23-12.2%
Ending AUM

$159B

Previous: $178B-10.9%
GAAP Operating Margin

37.0%

Previous: 44.1%-16.1%
Adjusted EBITDA Margin

49.3%

Previous: 49.7%-0.8%
Capital Expenditures

-$572K

Previous: -$1.18M+51.4%
Free Cash Flow

$48.7M

Previous: $70.1M-30.5%
Net Income

$49.3M

Previous: $71.3M-30.9%
Operating Income

$74.6M

Previous: $102M-26.6%
Gross Profit

$186M

Previous: $220M-15.3%
Cash & Equivalents

$38.3M

Previous: $38.6M-0.6%
Total Assets

$2.53B

Previous: $2.57B-1.7%

Revenue & EPS history

Victory Capital · Revenue · Quarterly

$200M

Q1 2023-12.5%vs Q1 2022
Beat estimate in 5 of 15 quarters(33%)
ActualEstimate

Forward guidance

This press release contains forward-looking statements that involve risks and uncertainties, and actual results could differ materially from those anticipated.

Historical earnings impact

How earnings announcements have historically affected this stock's price.

Avg. return before/after earnings

Based on 20 quarterly earnings reports · overlaid with Q1 2023

Historical avgQ1 2023

+1.6%

Avg return

Earnings day

+2.1%

Avg return

5 days after

+1.3%

Avg return

30 days after

50%

20 / 40 earnings

Positive

+22.4%

Q3 2018

Best reaction

-6.6%

Q1 2024

Worst reaction

Earnings price reactions
QuarterReport dateReaction (Day 0)+5 days+30 days
Q1 2026+1.9%+4.0%+4.4%
Q4 2025-2.2%+8.3%-1.5%
Q3 2025-0.8%+3.0%+3.2%
Q1 2025-1.6%+7.6%+8.1%
Q4 2024+7.5%+3.4%-10.9%
Q3 2024+2.1%-0.0%+4.3%
Q2 2024+8.2%+9.1%+13.0%
Q1 2024-6.6%-1.3%-4.7%
Q4 2023+4.8%-0.6%+13.1%
Q3 2023+8.9%+5.2%+8.0%
Q2 2023+1.7%+0.1%+4.9%
Q1 2023+0.8%+2.5%+9.2%
Q4 2022-2.8%+4.7%-3.2%
Q3 2022+0.7%+3.0%+4.9%
Q2 2022-0.2%-1.1%-4.4%
Q1 2022-6.4%-10.1%+1.2%
Q4 2021-3.0%-3.5%-11.8%
Q3 2021+11.7%+10.4%-7.9%
Q2 2021+6.5%+7.0%+6.7%
Q1 2021+6.3%+3.6%+7.1%
Q4 2020+2.4%+0.8%+4.7%
Q3 2020+7.2%+7.3%+22.5%
Q2 2020+0.3%+3.7%-1.5%
Q1 2020+0.7%-6.1%+21.5%
Q4 2019-1.8%-2.4%-34.8%
Q3 2019+9.8%+11.3%+26.9%
Q2 2019-1.7%-8.2%-2.2%
Q1 2019+5.8%+16.9%+12.4%
Q4 2018-2.4%+1.6%+17.6%
Q3 2017-0.6%+1.3%-10.2%
Q3 2018+22.4%+39.9%+38.7%
Q2 2018-1.8%-0.5%-5.0%
Q1 2017-1.7%-2.6%+2.4%
Q1 2018-0.6%-4.5%+2.2%
Q2 2017-2.8%-6.6%-14.8%
Q2 2016-2.8%-6.6%-14.8%
Q4 2016-2.8%-6.6%-14.8%
Q3 2016-2.8%-6.6%-14.8%
Q4 2015-2.8%-6.6%-14.8%
Q4 2017+4.2%+3.2%-11.0%
Q1 2016

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