NYSE$JHG

Janus Henderson Group plc · Q4 2023 earnings

Q4 2023 earnings · · Investor relations

Briefing

Janus Henderson's Q4 2023 results showed improvement in net flows, a stable management fee rate, solid core revenues, continued cost management, growth in operating income and EPS, and an AUM tailwind.

Janus Henderson Group plc reported a strong end to the year with improved net flows, stable management fees, solid revenues, and growth in operating income and EPS. AUM increased significantly, and the company executed its strategy, implemented cost efficiencies, and simplified its operating model.

  • AUM increased 9% quarter over quarter and 17% year over year to US$334.9 billion as of December 31, 2023.
  • Fourth quarter 2023 diluted EPS of US$0.74, or US$0.82 on an adjusted basis.
  • Fourth quarter 2023 operating income was US$143.7 million compared to US$67.8 million in the fourth quarter 2022.
  • Board declared a quarterly dividend of US$0.39 per share; returned US$321 million in capital through dividends and share buybacks in 2023.

Headline financials

Total Revenue

$569M

Previous: $515M+10.3%
EPS (adj)

$0.82

Previous: $0.61+34.4%
Assets under management

$335B

Previous: $287B+16.6%
Capital Expenditures

$2.4M

Previous: $7.3M-67.1%
Net Income

$109M

Previous: $65M+68.2%
Operating Income

$144M

Previous: $108M+32.6%
Gross Profit

$463M

Previous: $356M+30.1%
Stock-Based Comp

$17.6M

Previous: $22.6M-22.1%

Revenue & EPS history

Janus Henderson · Revenue · Quarterly

$569M

Q4 2023+10.3%vs Q4 2022
Beat estimate in 13 of 15 quarters(87%)
ActualEstimate

Forward guidance

Janus Henderson is focused on controlling what they can control and positioning the company for growth, with a strong balance sheet, cash generation, disciplined investment teams, and efficient cost management.

Tailwinds

  • Clear signs of progress.
  • On the path to achieving ambitions of organic growth.
  • Delivering superior outcomes for clients.
  • Strong cash generation.
  • Efficient cost management.

Headwinds

  • Uncertain environment.
  • Heightened geopolitical tensions.
  • Continuing to face industry headwinds.
  • Increasing interest rates and inflation.
  • Volatility, or disruption in financial markets.

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 Q4 2023

Historical avgQ4 2023

+0.6%

Avg return

Earnings day

+0.9%

Avg return

5 days after

+0.5%

Avg return

30 days after

53%

31 / 58 earnings

Positive

+10.4%

Q4 2022

Best reaction

-13.4%

Q2 2019

Worst reaction

Earnings price reactions
QuarterReport dateReaction (Day 0)+5 days+30 days
Q1 2026+0.1%+0.0%+0.2%
Q4 2025+0.4%+0.5%+8.7%
Q3 2025-2.8%-2.1%-1.2%
Q1 2025+4.4%+5.5%+9.4%
Q4 2024+2.9%+5.2%-3.3%
Q3 2024+1.2%+2.5%+10.0%
Q2 2024-3.6%-8.1%+1.0%
Q1 2024+4.5%+6.0%+7.5%
Q4 2023+4.6%+5.5%+9.7%
Q3 2023+5.3%+9.4%+14.1%
Q2 2023-6.2%-7.5%-6.4%
Q1 2023-0.0%+3.6%+5.7%
Q4 2022+10.4%+10.3%+3.8%
Q3 2022+0.8%+1.6%+12.9%
Q2 2022+5.6%+10.8%+1.4%
Q1 2022-6.6%-10.7%-8.5%
Q4 2021-3.8%-4.7%-20.6%
Q3 2021-0.2%+5.9%-0.3%
Q2 2021+6.5%+4.9%+11.4%
Q1 2021+1.6%+2.5%+13.3%
Q4 2020-4.6%-4.5%-7.9%
Q3 2020-3.0%+0.7%+16.8%
Q2 2020-4.9%-5.0%-4.6%
Q1 2020+9.2%+13.3%+34.2%
Q4 2019+4.3%+2.5%-24.2%
Q3 2019-2.7%+1.9%+6.9%
Q2 2019-13.4%-13.1%-13.8%
Q1 2019-10.3%-11.3%-19.1%
Q4 2018+2.3%+3.0%+7.0%
Q3 2018-2.1%-1.1%-4.8%
Q2 2018-6.8%-9.3%-11.9%
Q1 2018+7.1%+7.6%+1.0%
Q4 2015-1.3%-1.9%-6.2%
Q1 2016-1.3%-3.0%-7.5%
Q4 2016-1.3%-3.0%-7.5%
Q4 2017-2.2%-7.6%-6.0%
Q3 2016+5.1%+6.3%+4.3%
Q3 2017+2.2%+7.1%+4.5%
Q2 2016+5.0%+4.4%-2.6%
Q1 2017+5.0%+4.4%-2.6%
Q2 2017+5.0%+4.4%-2.6%
Q3 2015+4.7%
Q2 2015+1.1%
Q1 2015-0.2%
Q4 2014-1.4%
Q3 2014-2.4%
Q2 2014-0.6%
Q1 2014+3.5%
Q4 2013-2.3%
Q2 2013+0.4%
Q1 2013-2.0%
Q4 2012+6.7%
Q3 2012-0.1%
Q2 2012+0.6%
Q4 2011+4.9%
Q2 2011+2.9%
Q4 2010+3.8%
Q2 2010+0.0%

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