Company Performance - Virtus Investment Partners reported quarterly earnings of $6.92 per share, exceeding the Zacks Consensus Estimate of $6.81 per share, and up from $6.21 per share a year ago, representing an earnings surprise of 1.62% [1] - The company posted revenues of $205.13 million for the quarter ended September 2024, which missed the Zacks Consensus Estimate by 1.25%, compared to $197.45 million in the same quarter last year [1] - Over the last four quarters, Virtus has surpassed consensus EPS estimates two times but has not beaten consensus revenue estimates [1] Stock Outlook - The immediate price movement of Virtus shares will largely depend on management's commentary during the earnings call, as the stock has lost about 11.9% since the beginning of the year, while the S&P 500 has gained 21.8% [2] - The current consensus EPS estimate for the upcoming quarter is $7.64 on revenues of $216.33 million, and for the current fiscal year, it is $26.21 on revenues of $827.31 million [4] Industry Context - The Financial - Investment Management industry, to which Virtus belongs, is currently ranked in the top 9% of over 250 Zacks industries, indicating a favorable outlook for stocks in this sector [5] - Another company in the same industry, Victory Capital Holdings, is expected to report quarterly earnings of $1.34 per share, reflecting a year-over-year increase of 13.6%, with revenues projected at $223.18 million, up 6.4% from the previous year [5]

Financial Performance - Diluted earnings per share (EPS) for Q3 2024 was $5.71, an increase of 36% from $4.19 in Q3 2023[2] - Total revenues for the three months ended September 30, 2024, increased by 4% to $227,029,000 compared to $219,271,000 for the same period in 2023[15] - Net income for the three months ended September 30, 2024, increased by 29% to $49,104,000 compared to $38,154,000 for the same period in 2023[15] - Earnings per share (EPS) - basic for the three months ended September 30, 2024, was $5.80, a 36% increase from $4.26 in the same period last year[15] - Total revenues for the quarter ended September 30, 2024, were $227,029 million, an increase of 3.5% compared to $219,271 million for the same period in 2023[22] - Operating income for the quarter was $55,258 million, up 23.0% from $44,903 million in the same quarter last year[22] - Adjusted operating income increased to $70,468 million, reflecting a 5.5% rise from $66,980 million in the prior year[22] - Net income attributable to Virtus Investment Partners, Inc. was $40,980 million, compared to $30,906 million in the same quarter of 2023, marking a 32.5% increase[24] - Earnings per share (diluted) under GAAP was $5.71, up from $4.19 in the same quarter last year, representing a 36.2% increase[24] - The adjusted earnings per share (diluted) was $6.92, compared to $6.21 in the same quarter of 2023, indicating an increase of 11.4%[24] Sales and Revenue Growth - Total sales reached $6.6 billion, up 14% year-over-year, with institutional sales of $1.2 billion increasing 3% and retail separate account sales of $2.3 billion increasing 4%[4][5] - Investment management fees increased by 5% to $193,843,000 for the three months ended September 30, 2024, compared to $184,869,000 for the same period in 2023[15] - Total operating expenses decreased by 1% to $171,771,000 for the three months ended September 30, 2024, compared to $174,368,000 for the same period in 2023[15] - Cash dividends declared per common share increased by 18% to $2.25 for the three months ended September 30, 2024, compared to $1.90 for the same period in 2023[15] Assets Under Management (AUM) - Assets under management (AUM) increased to $183.7 billion, a 13% increase from $162.5 billion year-over-year[4] - Total assets under management (AUM) as of September 30, 2024, reached $183,742,000, an increase from $162,539,000 as of September 30, 2023[18] - Open-End Funds assets under management decreased from $51.1 billion on 9/30/2023 to $49.7 billion on 12/31/2023, with a projected increase to $50.9 billion by 6/30/2024[19] - Closed-End Funds assets under management remained stable, with a slight increase from $58.2 billion on 9/30/2023 to $58.4 billion on 12/31/2023, and projected to reach $58.6 billion by 6/30/2024[19] - Retail Separate Accounts assets under management remained constant at $43.3 billion for both 9/30/2023 and 12/31/2023, with a slight increase projected to $43.9 billion by 3/31/2024[19] - Institutional Accounts assets under management increased from $30.3 billion on 9/30/2023 to $33.2 billion on 12/31/2023, with a projected decrease to $30.7 billion by 6/30/2024[19] Expenses and Financial Adjustments - Operating income rose to $55.3 million, a 25% increase from $44.2 million in the prior quarter, driven by a 5% decrease in operating expenses[7] - Total operating expenses decreased to $171,771 million from $174,368 million year-over-year, a reduction of 0.3%[22] - Employment expenses increased to $105,555 million, up from $101,587 million in the same period last year, reflecting a 4% rise[25] - Interest and dividend income, as adjusted, decreased to $4,736 million from $5,848 million year-over-year, representing a decline of 19%[25] Market Performance and Flows - Net flows were negative at ($1.7) billion, an improvement from ($2.6) billion in the previous quarter, with positive flows in retail separate accounts and ETFs[6] - Total inflows for the quarter were $5.810 billion, while outflows amounted to $(7.309) billion, resulting in net flows of $(1.499) billion[20] - Market performance for the total assets showed a decline of $(3.624) billion for the quarter, with a recovery of $14.322 billion projected for the next quarter[20] Strategic Initiatives and Future Outlook - The company is actively exploring market expansion opportunities and new product developments to enhance its service offerings[19] - Future outlook includes a focus on enhancing investment management services and expanding market presence through strategic initiatives[20] - The company anticipates continued growth in assets under management and net asset inflows, although specific projections were not provided[35] - Forward-looking statements indicate potential risks and uncertainties regarding future performance and market conditions[34] Risks and Uncertainties - The company faces substantial known and unknown risks and uncertainties that could materially affect operations and financial results[36] - Key risks include reduction in assets under management and inability to achieve expected benefits from strategic transactions[36] - Other significant risks involve withdrawal or termination of investment management agreements and challenges from competition[36]

Company Overview - Virtus Investment Partners (VRTS) is based in Hartford and operates in the Finance sector, with a year-to-date share price change of -7.49% [2] - The company currently pays a dividend of $1.9 per share, resulting in a dividend yield of 3.4%, which is higher than the Financial - Investment Management industry's yield of 2.8% and the S&P 500's yield of 1.48% [2] Dividend Performance - The current annualized dividend of Virtus Investment Partners is $7.60, reflecting a 10.9% increase from the previous year [2] - Over the past 5 years, the company has increased its dividend 5 times year-over-year, achieving an average annual increase of 30.73% [2] - The current payout ratio is 31%, indicating that the company paid out 31% of its trailing 12-month earnings per share as dividends [2] Earnings Growth Expectations - For the fiscal year 2024, the Zacks Consensus Estimate predicts earnings of $26.02 per share, which corresponds to a year-over-year earnings growth rate of 18.54% [3] Investment Considerations - Dividends are favored by investors as they enhance stock investing profits, reduce overall portfolio risk, and offer tax advantages [4] - VRTS is positioned as a compelling investment opportunity due to its attractive dividend yield and a strong Zacks Rank of 2 (Buy) [4]

The market expects Virtus Investment Partners (VRTS) to deliver a year-over-year increase in earnings on higher revenues when it reports results for the quarter ended September 2024. This widely-known consensus outlook is important in assessing the company's earnings picture, but a powerful factor that might influence its near-term stock price is how the actual results compare to these estimates. The earnings report, which is expected to be released on October 25, 2024, might help the stock move higher if t ...

All investors love getting big returns from their portfolio, whether it's through stocks, bonds, ETFs, or other types of securities. But for income investors, generating consistent cash flow from each of your liquid investments is your primary focus. Cash flow can come from bond interest, interest from other types of investments, and of course, dividends. A dividend is the distribution of a company's earnings paid out to shareholders; it's often viewed by its dividend yield, a metric that measures a dividen ...

. . Vertiqal Studios Announces Amendment of Debentures and Entering into of Amended and Restated Debenture Indenture September 10, 2024 5:15 PM EDT | Source: Vertiqal Studios Toronto, Ontario--(Newsfile Corp. - September 10, 2024) - Vertiqal Studios Corp. (TSX: VRTS) (OTCQB: VERTF) (FSE: 9PY0) (the "Company" or "Vertiqal") - Vertiqal is pleased to announced that it has received the necessary debenture holder approval to amend certain terms of its debentures issued on November 3, 2022 and November 24, 2022 ( ...

. . ● Vertiqal Studios Reports Strong Q2 2024 Financial Performance with Higher Gross Profit Margins, Reduced Expenses and Improved EBITDA August 14, 2024 5:15 PM EDT | Source: Vertiqal Studios Toronto, Ontario--(Newsfile Corp. - August 14, 2024) - Vertiqal Studios Corp. (TSX: VRTS) (OTCQB: VERTF) (FSE: 9PY0) ("the Company") - Vertiqal Studios, a leading digital-channel network and videoproduction studio, is pleased to announce Q2 financial results, highlighting significantly higher gross profit margins, a ...

Financial Performance - Net income per diluted share was $2.43 in Q2 2024, a decrease of $1.67, or 40.7%, compared to $4.10 in Q2 2023[85] - Total sales were $6.1 billion in Q2 2024, a decrease of $1.4 billion, or 19.0%, from $7.6 billion in Q2 2023[85] - Net income attributable to Virtus Investment Partners, Inc. decreased by 41.8% to $17.6 million for the three months ended June 30, 2024, compared to $30.3 million in the same period of 2023[97] - The company reported a net loss of $4.2 million for the three months ended June 30, 2024, compared to a net income of $30.2 million in the same period of 2023[97] - Operating income increased by 13.2% to $44.2 million for Q2 2024, up from $39.0 million in Q2 2023, driven by higher revenues[97] Revenue and Fees - Total revenues increased by 5.1% to $224.4 million for the three months ended June 30, 2024, compared to $213.5 million in the same period of 2023[97] - Investment management fees rose by 6.5% to $191.7 million for the second quarter of 2024, up from $180.0 million in the second quarter of 2023[97] - Retail separate accounts saw a significant increase in fees, rising by $9.4 million, or 22.0%, for the three months ended June 30, 2024, compared to the same period last year[98] - Investment management fees increased by $11.7 million, or 6.5%, for the three months ended June 30, 2024, primarily due to an increase in average assets under management[99] Assets Under Management - Assets under management were $173.6 billion at June 30, 2024, an increase of $5.3 billion, or 3.1%, from June 30, 2023[86] - Average assets under management increased by $16.59 billion, or 10.5%, compared to the previous year[88] - Average assets under management increased to $175.2 million in Q2 2024, compared to $163.0 million in Q2 2023, reflecting a growth of 7.4%[94] - The ending balance of total assets under management as of June 30, 2024, was $173.6 million, a 3.1% increase from $168.3 million in 2023[92] Cash Flow and Equity - Cash and cash equivalents decreased to $183.0 million as of June 30, 2024, down from $239.6 million at December 31, 2023, a decline of 23.6%[126] - Net cash provided by operating activities was $35.4 million for the six months ended June 30, 2024, a decrease of 65.3% from $102.1 million in the prior year[130] - Net cash used in investing activities was $3.8 million for the six months ended June 30, 2024, a significant decrease of 96.9% from $123.2 million in the prior year[131] - Net cash used in financing activities was $21.8 million for the six months ended June 30, 2024, down 89.6% from $210.7 million in the prior year[132] - Total equity increased slightly to $872.1 million as of June 30, 2024, compared to $868.3 million at December 31, 2023, a change of 0.4%[126] Expenses - Total operating expenses increased by 3.3% to $180.2 million for the second quarter of 2024, compared to $174.5 million in the same period of 2023[97] - Total operating expenses for the three months ended June 30, 2024, were $180.2 million, an increase of $5.7 million or 3.3% compared to $174.5 million in the same period last year[103] - Employment expenses increased by $1.0 million, or 0.9%, for the three months ended June 30, 2024, primarily due to an increase in profit- and sales-based compensation[104] - Distribution and service fees decreased by $0.7 million, or 5.1%, for the three months ended June 30, 2024, primarily due to lower sales and average assets under management for open-end funds[100] - Other income and fees decreased by $0.2 million, or 14.4%, for the three months ended June 30, 2024, primarily due to lower fees earned on other fee-earning assets[102] Market Performance - Net flows were $(2.6) billion in Q2 2024 compared to neutral net flows in Q2 2023[85] - The company reported net outflows of $9.2 billion offset by $16.9 billion from positive market performance from June 30, 2023[86] - Market performance for institutional accounts showed a net outflow of $1.7 million in Q2 2024, compared to a net inflow of $2.2 million in Q2 2023[91] Other Financial Metrics - The average fee earned across all products remained flat at 42.2 basis points for both the three and six months ended June 30, 2024, compared to the same periods in the prior year[95] - The provision for income taxes reflected an estimated effective tax rate of 24.4% for the six months ended June 30, 2024, an increase from 23.2% in the prior year[121] - Interest expense decreased by $0.6 million, or 9.7%, for the three months ended June 30, 2024, primarily due to lower average debt outstanding[117] - Interest and dividend income of investments of CIP increased by $4.5 million, or 9.4%, for the three months ended June 30, 2024, attributed to the addition of a CLO and higher average interest rates[119] - Interest expense of CIP increased by $3.2 million, or 8.3%, for the three months ended June 30, 2024, primarily due to higher average interest rates[120] - The change in fair value of contingent consideration improved by $3.5 million, or 51.5%, for the three months ended June 30, 2024, compared to the same period last year[109] - Realized and unrealized losses on investments, net, were $(1.6) million for the three months ended June 30, 2024, reflecting a decrease of $3.3 million compared to the same period last year[113] - Total other income (expense), net, was $(13.9) million for the three months ended June 30, 2024, an increase in loss of $10.3 million compared to $(3.6) million in the same period last year[112]

Virtus Investment Partners, Inc. (NYSE:VRTS) Q2 2024 Earnings Conference Call July 26, 2024 10:00 AM ET Company Participants Sean Rourke - IR George Aylward - CEO Mike Angerthal - CFO Conference Call Participants Crispin Love - Piper Sandler Bradley Hays - TD Cowen Michael Cyprys - Morgan Stanley Operator Good morning. My name is Dede, and I will be your conference operator today. I would like to welcome everyone to the Virtus Investment Partners Quarterly Conference Call. The slide presentation for this ca ...

Virtus Investment Partners (VRTS) came out with quarterly earnings of $6.53 per share, missing the Zacks Consensus Estimate of $6.61 per share. This compares to earnings of $5.43 per share a year ago. These figures are adjusted for non-recurring items. Over the last four quarters, the company has surpassed consensus EPS estimates two times. 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 com ...