Net income (GAAP basis) of $21 million plunged 71% from the year-ago quarter's tally. Our Viewpoint Strong Asset Position An increase in net administrative service fees is a major driving factor. The company's assets under management (AUM) touched a record level. However, the downtick in revenues and a higher expense base acted as a headwind. Total revenues declined 7% year over year to $402.6 million. The top line surpassed the Zacks Consensus Estimate of $397.4 million. Quarterly net investment advisory f ...

Core Viewpoint - Federated Hermes reported a mixed financial performance for the quarter ended June 2024, with a decline in revenue but an increase in earnings per share (EPS) compared to the previous year [2]. Financial Performance - Revenue for the quarter was $402.58 million, down 7.1% year-over-year, but exceeded the Zacks Consensus Estimate by 1.31% [2]. - EPS was reported at $0.96, an increase from $0.81 in the same quarter last year, representing a surprise of 7.87% over the consensus estimate of $0.89 [2]. Managed Assets Overview - Managed Assets in Alternative/private markets were $20.06 billion, slightly below the average estimate of $20.64 billion [4]. - Managed Assets in Multi-asset were $2.88 billion, slightly above the average estimate of $2.84 billion [4]. - Total long-term assets managed were $196.08 billion, exceeding the average estimate of $195.26 billion [4]. - Money market managed assets were $586.65 billion, surpassing the average estimate of $560.22 billion [4]. Revenue Breakdown - Administrative service fees, net, were $95.35 million, exceeding the average estimate of $91.47 million, with a year-over-year increase of 11.9% [4]. - Other service fees, net, were $36.62 million, slightly below the average estimate of $36.99 million, reflecting a year-over-year decline of 2.9% [4]. - Investment advisory fees, net, were $270.62 million, above the average estimate of $267.01 million, but showed a year-over-year decrease of 12.8% [4].

This quarterly report represents an earnings surprise of 7.87%. A quarter ago, it was expected that this one of the nation's largest managers of money market funds would post earnings of $0.89 per share when it actually produced earnings of $0.89, delivering no surprise. The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call. What's Next for Federated Hermes? Empiric ...

Exhibit 99.1 Federated Hermes, Inc. reports record assets under management with second quarter 2024 earnings (PITTSBURGH, Pa., July 25, 2024) — Federated Hermes, Inc. (NYSE: FHI), a global leader in active, responsible investing, today reported earnings per diluted share (EPS) of $0.20 for Q2 2024, compared to $0.81 for the same quarter last year, on net income of $21.0 million for Q2 2024, compared to $72.2 million for Q2 2023. Federated Hermes' Q2 2024 results include a $66.3 million non- cash expense, or ...

Financial Summary Q2 2024 vs. Q1 2024 YTD 2024 vs. YTD 2023 minutes prior to register and join the call. A replay will be available at approximately 12:30 p.m. Eastern on July 26, 2024. To access the telephone replay, dial 877-481- 4010 (domestic) or 919-882-2331 (international) and enter access code 50846. The online replay will be available via FederatedHermes.com/us for one year. Federated Hermes, Inc. is a global leader in active, responsible investment management, with $782.7 billion in assets under ma ...

The earnings report, which is expected to be released on July 25, 2024, might help the stock move higher if these key numbers are better than expectations. On the other hand, if they miss, the stock may move lower. Zacks Consensus Estimate Revenues are expected to be $397.56 million, down 8.2% from the year-ago quarter. The consensus EPS estimate for the quarter has been revised 0.71% lower over the last 30 days to the current level. This is essentially a reflection of how the covering analysts have collect ...

A telephone replay of the call will begin at approximately 12:30 p.m. Eastern on July 26, 2024. To access the telephone replay, dial 877-481-4010 (domestic) or 919-882-2331 (international) and enter the access code 50846. The online replay will be available via FederatedHermes.com/us for one year. SOURCE Federated Hermes, Inc. Investors interested in listening to the conference call should dial 888-506-0062 (domestic) or 973-528-0011 (international) or visit FederatedHermes.com/us for real-time Internet acc ...

Getting big returns from financial portfolios, whether through stocks, bonds, ETFs, other securities, or a combination of all, is an investor's dream. But when you're an income investor, your primary focus is generating consistent cash flow from each of your liquid investments.While cash flow can come from bond interest or interest from other types of investments, income investors hone in on dividends. A dividend is the distribution of a company's earnings paid out to shareholders; it's often viewed by its ...

Federated Hermes, Inc. (NYSE:FHI) Q1 2024 Earnings Conference Call April 26, 2024 9:00 AM ET Company Participants Raymond Hanley - President of Federated Investors Management Company Christopher Donahue - President and Chief Executive Officer Thomas Donahue - Chief Financial Officer, Vice President, Director and Treasurer Deborah Cunningham - Chief Investment Officer Conference Call Participants William Katz - TD Cowen Patrick Davitt - Autonomous Research Ken Worthington - JPMorgan Brian Bedell - Deutsche B ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 _______________________________________________________________________________________ FORM 10-Q ______________________________________________________________________________________ (Mark One) Commission File Number 001-14818 _______________________________________________________________________________________ Federated Hermes, Inc. (Exact name of registrant as specified in its charter) ___________________________ ...