Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 10-Q (Mark One) ☑ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number 001-13908 Invesco Ltd. (Exact Name of Registrant as Specified in Its Charter) Bermuda 98-0557567 (State or Oth ...

ATLANTA, Oct. 28, 2024 /PRNewswire/ -- Invesco Mortgage Capital Inc. (NYSE: IVR) will announce its third quarter 2024 results Tuesday, November 5, 2024, after market close. A conference call and audio webcast to review third quarter 2024 results will be held on Wednesday, November 6, 2024, at 9:00 a.m. ET. Scheduled to speak are John Anzalone, Chief Executive Officer; Mark Gregson, Interim Chief Financial Officer; Brian Norris, Chief Investment Officer; Kevin Collins, President; and David Lyle, Chief Operat ...

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ATLANTA, Oct. 25, 2024 /PRNewswire/ -- Invesco Senior Income Trust (NYSE: VVR), a diversified, closed-end management investment company, announced today the successful pricing and private placement of Variable Rate Demand Mode Preferred Shares (VRDMs), Series A and Series B, with qualified institutional buyers, as defined in Rule 144A under the Securities Act of 1933, as amended (Securities Act).  The Fund issued $50,000,000 in aggregate liquidation preference of Series A VRDMs and $50,000,000 in aggregate ...

Invesco Ltd. (NYSE:IVZ) Q3 2024 Earnings Conference Call October 22, 2024 9:00 AM ET Company Participants Gregory Ketron - Head of IR Andrew Schlossberg - President & CEO, Invesco Ltd. (USA) Allison Dukes - Senior Managing Director & CFO Conference Call Participants Brennan Hawken - UBS Daniel Fannon - Jefferies William Katz - TD Cowen Glenn Schorr - Evercore ISI Craig Siegenthaler - Bank of America Alexander Blostein - Goldman Sachs Benjamin Budish - Barclays Michael Cyprys - Morgan Stanley Brian Bedell - ...

Invesco Third Quarter 2024 Results Andrew Schlossberg President and Chief Executive Officer Allison Dukes Chief Financial Officer October 22, 2024 Forward-looking statements and Important Information This presentation and comments made in the associated conference call today may include "forward-looking statements." Forward-looking statements include information concerning future results of our operations, expenses, earnings, liquidity, cash flow, capital expenditures and AUM and could differ materially fro ...

Invesco's (IVZ) third-quarter 2024 adjusted earnings of 44 cents per share came in line with the Zacks Consensus Estimate. The bottom line increased 25.7% from the prior-year quarter. Stay up-to-date with all quarterly releases: See Zacks Earnings Calendar. The results were primarily aided by a decline in adjusted expenses and higher adjusted net revenues. An increase in the assets under management (AUM) balance on decent inflows was a positive too. In light of these positives, shares of the company were up ...

Invesco (IVZ) reported $1.1 billion in revenue for the quarter ended September 2024, representing a year-overyear increase of 0.6%. EPS of $0.44 for the same period compares to $0.35 a year ago. The reported revenue compares to the Zacks Consensus Estimate of $1.11 billion, representing a surprise of -0.21%. The company has not delivered EPS surprise, with the consensus EPS estimate being $0.44. While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expe ...

Invesco (IVZ) came out with quarterly earnings of $0.44 per share, in line with the Zacks Consensus Estimate. This compares to earnings of $0.35 per share a year ago. These figures are adjusted for non-recurring items.A quarter ago, it was expected that this investment management company would post earnings of $0.40 per share when it actually produced earnings of $0.43, delivering a surprise of 7.50%.Over the last four quarters, the company has surpassed consensus EPS estimates two times.Invesco, which belo ...

[Financial Performance Overview](index=1&type=section&id=Financial%20Performance%20Overview) [Third Quarter 2024 Highlights](index=1&type=section&id=Third%20Quarter%202024%20Highlights) Invesco reported a strong third quarter for 2024, achieving a record high ending AUM of $1.8 trillion, a 4.7% increase from the prior quarter, with significant net long-term inflows of $16.5 billion - The CEO highlighted continued positive momentum, record long-term AUM, and significant long-term net inflows despite market volatility, achieving positive organic growth in all three geographic regions, led by Asia Pacific at **9%**[2](index=2&type=chunk) Q3 2024 Key Metrics | Metric | Value | | :--- | :--- | | **GAAP Diluted EPS** | $0.12 | | **Adjusted Diluted EPS** | $0.44 | | **Net Long-Term Inflows** | $16.5 billion | | **Ending AUM** | $1.8 trillion (Record High) | | **Share Repurchases** | $25 million (1.5 million shares) | | **Adjusted Operating Margin** | 31.6% | Q3 2024 Financial Summary (vs. Q2-24 and Q3-23) | U.S. GAAP Financial Measures | Q3-24 | Q2-24 | Q3-23 | | :--- | :--- | :--- | :--- | | Operating revenues (million) | $1,515.4 | $1,483.3 | $1,442.0 | | Operating income (million) | $100.5 | $206.8 | $227.7 | | Diluted EPS | $0.12 | $0.29 | $0.29 | | **Adjusted Financial Measures** | **Q3-24** | **Q2-24** | **Q3-23** | | Adjusted operating income (million) | $348.8 | $335.3 | $309.2 | | Adjusted diluted EPS | $0.44 | $0.43 | $0.35 | | **Assets Under Management** | **Q3-24** | **Q2-24** | **Q3-23** | | Ending AUM (billion) | $1,795.6 | $1,715.8 | $1,487.3 | [Assets Under Management (AUM) and Net Flows](index=2&type=section&id=Assets%20Under%20Management%20(AUM)%20and%20Net%20Flows) Ending Assets Under Management (AUM) increased by 4.7% quarter-over-quarter to a record $1.8 trillion, driven by $16.5 billion in net long-term inflows, $49.8 billion in net market gains, and a $16.3 billion positive impact from foreign exchange Net Flows Summary (in billions) | Flow Type | Q3-24 | Q2-24 | Q3-23 | | :--- | :--- | :--- | :--- | | Active | $(0.6) | $2.3 | $(10.9) | | Passive | $17.1 | $14.4 | $13.5 | | **Net long-term flows** | **$16.5** | **$16.7** | **$2.6** | | Money market | $(7.3) | $4.9 | (16.1) | | **Total net flows** | **$12.7** | **$28.2** | **$(9.9)** | - Net long-term inflows of **$16.5 billion** were primarily driven by ETFs and Index (**$17.7 billion**) and Fundamental Fixed Income (**$5.9 billion**), partially offset by outflows from Fundamental Equities (**$6.3 billion**)[3](index=3&type=chunk) - All geographic regions demonstrated positive net long-term inflows: Americas (**$8.3 billion**), Asia Pacific (**$5.1 billion**), and EMEA (**$3.1 billion**)[3](index=3&type=chunk) AUM Rollforward (Q3 2024, in billions) | Component | Value | | :--- | :--- | | Beginning AUM (June 30, 2024) | $1,715.8 | | Net long-term flows | +$16.5 | | Money market & non-mgmt fee flows | -$3.8 | | Market gains and losses | +$49.8 | | Foreign currency translation | +$16.3 | | Reinvested distributions & Other | +$1.0 | | **Ending AUM (Sep 30, 2024)** | **$1,795.6** | [AUM by Investment Approach](index=11&type=section&id=AUM%20by%20Investment%20Approach) Passive strategies were the primary growth driver, attracting $17.1 billion in net long-term inflows, leading to a 7.1% QoQ increase in passive AUM to $763.3 billion, while active strategies experienced slight net long-term outflows of $0.6 billion AUM by Investment Approach (Q3 2024, in billions) | Investment Approach | Ending AUM (billion) | Net Long-Term Flows (billion) | | :--- | :--- | :--- | | Active | $1,032.3 | $(0.6) | | Passive | $763.3 | $17.1 | [AUM by Investment Capability](index=12&type=section&id=AUM%20by%20Investment%20Capability) ETFs and Index strategies were the standout performers with $17.7 billion in net long-term inflows, followed by Fundamental Fixed Income with $5.9 billion, while Fundamental Equities saw net outflows of $6.3 billion Q3 2024 Net Long-Term Flows by Capability (in billions) | Investment Capability | Net Long-Term Flows (billion) | | :--- | :--- | | ETFs and Index | $17.7 | | Fundamental Fixed Income | $5.9 | | Multi-Asset/Other | $0.3 | | Private Markets | $(0.3) | | APAC Managed | $(0.8) | | Fundamental Equities | $(6.3) | [Operating Results](index=3&type=section&id=Operating%20Results) [U.S. GAAP Operating Results](index=3&type=section&id=U.S.%20GAAP%20Operating%20Results) On a U.S. GAAP basis, third-quarter operating income was $100.5 million, a significant decrease of 51.4% from Q2 2024, primarily driven by a one-time, non-cash employee compensation expense of $147.6 million - Operating expenses increased by **$138.4 million** compared to Q2 2024, mainly due to a one-time acceleration of **$147.6 million** in compensation expense from changes to retirement vesting criteria for long-term awards[9](index=9&type=chunk) - Compared to Q3 2023, operating expenses rose by **$200.6 million**, also driven by the aforementioned one-time compensation charge and a **$43.3 million** increase in mark-to-market expense on deferred compensation[13](index=13&type=chunk) - The effective tax rate increased to **28.6%** in Q3 2024, up from **24.6%** in Q2 2024, primarily due to non-deductible executive compensation related to the one-time expense acceleration[11](index=11&type=chunk) [Adjusted (Non-GAAP) Operating Results](index=4&type=section&id=Adjusted%20(Non-GAAP)%20Operating%20Results) Excluding one-time items and other adjustments, Invesco's adjusted operating income increased 4.0% sequentially to $348.8 million, with the adjusted operating margin expanding to 31.6% - Adjusted operating income increased by **$13.5 million** QoQ, and the adjusted operating margin improved to **31.6%**[17](index=17&type=chunk) - Compared to Q3 2023, adjusted operating income rose **$39.6 million**, and the adjusted operating margin increased significantly from **28.2%** to **31.6%**[18](index=18&type=chunk) - The adjusted effective tax rate was **21.8%**, slightly down from **22.1%** in Q2 2024 and **23.6%** in Q3 2023[17](index=17&type=chunk)[18](index=18&type=chunk) [Non-GAAP Reconciliations](index=7&type=section&id=Non-GAAP%20Reconciliations) The company provides non-GAAP measures to offer insight into ongoing operational performance, with the most significant adjustment for Q3 2024 being the exclusion of a $147.6 million one-time compensation expense - Management uses non-GAAP measures like Net Revenues, Adjusted Operating Income, and Adjusted Diluted EPS to assess operational performance and for budgeting and forecasting[28](index=28&type=chunk) Key Reconciling Items from GAAP to Non-GAAP (Q3 2024, in millions) | Item | Adjustment to Operating Income (million) | | :--- | :--- | | One-time acceleration of compensation expense | $147.6 | | Invesco Great Wall | $37.6 | | Compensation expense (deferred comp market changes) | $36.6 | | Consolidated Investment Products (CIP) | $15.3 | | Amortization of intangible assets | $11.2 | - A one-time, non-cash acceleration of **$147.6 million** in compensation expense was excluded from adjusted results due to its non-recurring nature to aid period-over-period comparability[36](index=36&type=chunk) [Capital Management and Shareholder Returns](index=4&type=section&id=Capital%20Management%20and%20Shareholder%20Returns) [Capital Position](index=4&type=section&id=Capital%20Position) Invesco maintained a strong and liquid balance sheet as of September 30, 2024, with cash and cash equivalents increasing to over $1 billion and total debt stable at approximately $890 million Capital Position (as of Sep 30, 2024) | Metric | Value | | :--- | :--- | | Cash and cash equivalents | $1,044.9 million | | Debt | $890.3 million | | Credit facility balance | Zero | [Share Repurchases and Dividends](index=4&type=section&id=Share%20Repurchases%20and%20Dividends) The company continued to return capital to shareholders, repurchasing 1.5 million common shares for $25 million and declaring a quarterly cash dividend of $0.205 per common share - During Q3 2024, the company repurchased **1.5 million** common shares for **$25 million** in the open market[19](index=19&type=chunk) - A third-quarter cash dividend of **$0.205** per common share was declared, payable on December 3, 2024[20](index=20&type=chunk) [Financial Statements and Supplemental Information](index=6&type=section&id=Financial%20Statements%20and%20Supplemental%20Information) [U.S. GAAP Condensed Consolidated Income Statements](index=6&type=section&id=U.S.%20GAAP%20Condensed%20Consolidated%20Income%20Statements) The U.S. GAAP income statement for Q3 2024 shows total operating revenues of $1.515 billion and total operating expenses of $1.415 billion, with a significant increase in employee compensation expense driving lower operating income and diluted EPS Q3 2024 U.S. GAAP Income Statement Highlights (in millions) | Line Item | Q3-24 | Q2-24 | Q3-23 | | :--- | :--- | :--- | :--- | | Total operating revenues | $1,515.4 | $1,483.3 | $1,442.0 | | Employee compensation | $625.4 | $452.3 | $478.5 | | Total operating expenses | $1,414.9 | $1,276.5 | $1,214.3 | | Operating income | $100.5 | $206.8 | $227.7 | | Net income attributable to Invesco Ltd. | $55.0 | $132.2 | $131.4 | [Supplemental Cash Flow and Balance Sheet Information](index=16&type=section&id=Supplemental%20Cash%20Flow%20and%20Balance%20Sheet%20Information) The supplemental tables provide a non-GAAP view of cash flow and balance sheet, excluding Consolidated Investment Products (CIP) to better reflect Invesco's corporate financial position, showing $441.7 million in operating cash flow and $19.3 billion in total assets - The supplemental information presents non-GAAP figures excluding Consolidated Investment Products (CIP), as CIP cash is not available for corporate use and its debt has no recourse to Invesco[54](index=54&type=chunk)[56](index=56&type=chunk) Cash Flow Excluding CIP (Three months ended Sep 30, 2024, in millions) | Cash Flow | Value | | :--- | :--- | | From operating activities | $441.7 | | From investing activities | $(126.7) | | From financing activities | $(184.7) | | **Increase in cash** | **$130.3** | Adjusted Balance Sheet (As of Sep 30, 2024, in billions) | Item | Value | | :--- | :--- | | Total Assets (Ex-CIP) | $19.3 | | Total Liabilities (Ex-CIP) | $4.5 | | Total Equity | $14.8 |