NYSE$VRTS

Virtus Investment Partners Inc · Q3 2024 earnings

Q3 2024 earnings · · Investor relations

Briefing

Virtus reported an increase in EPS and revenue, driven by higher average assets under management and lower operating expenses.

Virtus Investment Partners reported strong Q3 2024 results, with an increase in both GAAP and adjusted EPS. Total sales and AUM also increased, although net flows were negative. The company's performance was driven by higher average assets under management and lower operating expenses.

  • Earnings per share (EPS) - Diluted of $5.71; Earnings per share - Diluted, as Adjusted, of $6.92
  • Total Sales of $6.6B
  • Net Flows of ($1.7B)
  • Assets Under Management of $183.7B

Headline financials

Total Revenue

$227M

Previous: $219M+3.5%
EPS

$5.71

Previous: $6.21-8.1%
Ending total assets under management

$184B

No prior period
Total sales

$6.6B

Previous: $5.8B+13.8%
Net flows

-$1.7B

Previous: -$1.5B-13.3%
Operating margin

24.3%

No prior period
Operating margin, as adjusted

34.4%

No prior period
Weighted average shares outstanding - diluted

7.2M

No prior period
Gross debt

$242M

No prior period
Net debt (cash)

$46.2M

No prior period
Effective tax rate, GAAP

24.3%

No prior period
Effective tax rate, as adjusted

26.7%

No prior period
Capital Expenditures

-$3.66M

Previous: -$6.44M+43.2%
Free Cash Flow

$45.4M

Previous: $31.7M+43.3%
Net Income

$49.1M

Previous: $38.2M+28.7%
Operating Income

$55.3M

Previous: $44.9M+23.1%
Gross Profit

$227M

Previous: $219M+3.5%
Total Assets

$3.6B

Previous: $3.77B-4.3%
Stock-Based Comp

$8.24M

Previous: $7.67M+7.4%

Revenue & EPS history

Virtus · Revenue · Quarterly

$227M

Q3 2024+3.5%vs Q3 2023
Beat estimate in 14 of 15 quarters(93%)
ActualEstimate

Revenue by segment

Virtus · $133M total across 4 segments · Q2 2020

  • Investment management fees
    $111M
  • Administration and shareholder service fees
    $13.3M
  • Distribution and service fees
    $8.89M
  • Other income and fees
    $166K

Forward guidance

This document does not contain forward guidance. Therefore, this section is empty.

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 Q3 2024

Historical avgQ3 2024

-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

Earnings price reactions
QuarterReport dateReaction (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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