NYSE$VRTS
Virtus Investment Partners Inc · Q1 2020 earnings
Q1 2020 earnings · · Investor relations
Briefing
Virtus Investment Partners' financial performance was mixed, with GAAP results showing a net loss while adjusted non-GAAP measures indicated profitability, influenced by market depreciation and strategic investments.
Virtus Investment Partners reported a GAAP net loss attributable to common stockholders of ($4.3) million, or ($0.58) per diluted share, while adjusted non-GAAP net income was $26.5 million, or $3.32 per diluted share. Total AUM decreased to $90.7 billion due to market depreciation, but total sales increased to $7.0 billion driven by higher sales across various product categories. The company actively managed its capital structure, repurchasing shares and reducing gross debt.
- GAAP net loss attributable to common stockholders was ($4.3) million, or ($0.58) per diluted share.
- Adjusted non-GAAP net income attributable to common stockholders was $26.5 million, or $3.32 per diluted share.
- Total assets under management (AUM) decreased to $90.7 billion, primarily due to market depreciation of $16.6 billion.
- Total sales increased to $7.0 billion, driven by higher sales in open-end funds, institutional accounts, retail separate accounts, and structured products.
Headline financials
Revenue & EPS history
Virtus · Revenue · Quarterly
$145M
Revenue by segment
Virtus · $130M total across 3 segments · Q1 2020
- Investment management fees$120M—92.6%
- Distribution and service fees$9.46M—7.3%
- Other income and fees$165K—0.1%
Forward guidance
This press release contains forward-looking statements based on current expectations, assumptions, and projections, but actual results may differ materially due to various risks and uncertainties, including the COVID-19 pandemic, economic conditions, AUM fluctuations, and regulatory developments. The company does not undertake to update these statements.
Tailwinds
- Continued commitment to long-term success of investors.
- Access to a variety of investment styles across multiple disciplines.
- Partnership of boutique investment managers.
- Offers products and services through affiliated managers and select subadvisers.
- Focus on providing distinctive investment strategies.
Headwinds
- Ongoing effects of the COVID-19 pandemic and associated global economic disruption.
- Potential reduction in assets under management.
- Possible withdrawal, renegotiation, or termination of investment advisory agreements.
- Risk of damage to reputation.
- Challenges from competition in the business.
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 2020
-0.2%
Avg return
Earnings day
+0.1%
Avg return
5 days after
+1.2%
Avg return
30 days after
55%
36 / 65 earnings
Positive
+20.5%
Q3 2015
Best reaction
-20.5%
Q2 2010
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | -6.9% | -1.5% | -1.9% | |
| Q4 2025 | -7.1% | -7.4% | -11.2% | |
| Q3 2025 | -6.4% | -7.0% | -10.8% | |
| Q1 2025 | -2.3% | -2.1% | +6.5% | |
| Q4 2024 | -5.5% | -7.7% | -11.1% | |
| Q3 2024 | +5.9% | +5.9% | +13.7% | |
| Q2 2024 | -7.9% | -8.1% | -11.8% | |
| Q1 2024 | -3.7% | -4.7% | +0.8% | |
| Q4 2023 | -2.8% | -3.0% | -1.3% | |
| Q3 2023 | +3.6% | +7.7% | +14.1% | |
| Q2 2023 | -2.4% | -3.6% | -4.8% | |
| Q1 2023 | -1.1% | -2.8% | +9.1% | |
| Q4 2022 | -5.9% | -5.9% | -9.7% | |
| Q3 2022 | +0.3% | -0.0% | +12.9% | |
| Q2 2022 | +1.1% | +2.5% | -1.6% | |
| Q1 2022 | -2.2% | -0.1% | +5.4% | |
| Q4 2021 | +4.1% | +7.8% | -12.0% | |
| Q3 2021 | -6.3% | -2.8% | -8.3% | |
| Q2 2021 | +4.3% | +5.6% | +20.6% | |
| Q1 2021 | +5.9% | +5.2% | +7.9% | |
| Q4 2020 | +4.8% | +9.0% | +7.3% | |
| Q3 2020 | +2.5% | -5.8% | +5.8% | |
| Q2 2020 | +4.9% | +5.0% | +5.6% | |
| Q1 2020 | +15.1% | +8.1% | +14.4% | |
| Q4 2019 | +0.3% | +6.6% | -12.7% | |
| Q3 2019 | +8.8% | +10.2% | +17.6% | |
| Q2 2019 | +4.7% | +1.6% | -2.0% | |
| Q1 2019 | +3.0% | +1.6% | -7.7% | |
| Q4 2018 | +1.6% | +5.5% | +15.3% | |
| Q3 2018 | -2.4% | -2.2% | -5.0% | |
| Q2 2018 | +0.5% | -1.3% | -0.8% | |
| Q1 2018 | +1.1% | +0.7% | +9.7% | |
| Q4 2017 | -3.5% | -2.4% | -5.5% | |
| Q3 2017 | -3.6% | -5.1% | -4.1% | |
| Q2 2017 | +1.5% | -0.8% | -8.9% | |
| Q1 2017 | -4.7% | -7.0% | -8.0% | |
| Q4 2016 | -11.1% | -12.0% | -12.3% | |
| Q3 2016 | +15.3% | +7.4% | +24.7% | |
| Q2 2016 | +3.3% | +7.3% | +6.7% | |
| Q1 2016 | +15.5% | — | — | |
| Q4 2015 | -3.6% | — | — | |
| Q3 2015 | +20.5% | — | — | |
| Q2 2015 | +6.0% | — | — | |
| Q1 2015 | -14.1% | — | — | |
| Q4 2014 | -2.6% | — | — | |
| Q3 2014 | +5.7% | — | — | |
| Q2 2014 | +0.1% | — | — | |
| Q1 2014 | +4.0% | — | — | |
| Q4 2013 | -4.0% | — | — | |
| Q3 2013 | +16.1% | — | — | |
| Q2 2013 | +0.8% | — | — | |
| Q1 2013 | +0.1% | — | — | |
| Q3 2010 | +1.8% | — | — | |
| Q4 2012 | +2.2% | — | — | |
| Q3 2012 | -3.1% | — | — | |
| Q2 2012 | +2.4% | — | — | |
| Q1 2011 | +1.2% | — | — | |
| Q1 2012 | +1.9% | — | — | |
| Q4 2011 | -4.3% | — | — | |
| Q4 2009 | -4.3% | — | — | |
| Q3 2011 | +0.5% | — | — | |
| Q4 2010 | -20.5% | — | — | |
| Q2 2011 | -20.5% | — | — | |
| Q2 2010 | -20.5% | — | — | |
| Q1 2010 | -2.1% | — | — |
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