Invesco(US:IVZ)2025-01-28 12:47Financial Performance - Invesco reported Q4 2024 diluted EPS of $0.46 and adjusted diluted EPS of $0.52, representing increases of 283.3% and 18.2% respectively compared to Q3 2024[19][27]. - The company reported a net income of $209.3 million for Q4 2024, a significant recovery from a net loss of $742.3 million in Q4 2023[13][14]. - Net income attributable to Invesco Ltd. for Q4 2024 was $209.3 million, a 280.5% increase compared to $55.0 million in Q4 2023[44]. - Adjusted net income attributable to Invesco Ltd. for Q4 2024 was $237.3 million, up from $212.7 million in Q4 2023, indicating an 11.6% increase[52]. - Earnings per common share for Q4 2024 were $0.46, compared to $0.12 in Q4 2023, reflecting a 283.3% increase[44]. - Adjusted operating income rose by $114.7 million in Q4 2024 compared to Q4 2023, with adjusted operating margin increasing to 33.7% from 26.3%[29]. - Total operating revenues for Q4 2024 were $1,593.0 million, a 5.1% increase from Q3 2024 and a 12.7% increase from Q4 2023[44]. - For the year ended December 31, 2024, total operating revenues were $6,067.0 million, a 6.1% increase from 2023[46]. Assets Under Management (AUM) - Assets Under Management (AUM) reached $1.846 trillion at the end of Q4 2024, a 2.8% increase from Q3 2024 and a 16.4% increase year-over-year[13][14]. - The average AUM for the year was $1,712.2 billion, a 14.1% increase compared to $1,500.6 billion in the previous year[55]. - Ending assets reached $1,846.0 billion, reflecting a 2.8% increase from $1,795.6 billion in the previous quarter and a 16.4% increase year-over-year[55]. - Total assets under management (AUM) at the end of December 31, 2024, reached $1,315.5 billion in the Americas, $270.2 billion in Asia Pacific, and $260.3 billion in EMEA[59]. Cash Flow and Expenses - Cash and cash equivalents stood at $986.5 million as of December 31, 2024, down from $1,044.9 million at September 30, 2024[32]. - Total operating expenses on a U.S. GAAP basis for Q4 2024 were $1,281.3 million, down from $2,489.2 million in Q4 2023[53]. - Cash flows from operating activities for the year ended December 31, 2024, amounted to $1,190.0 million, compared to $1,300.8 million in the previous year[69]. - Cash and cash equivalents at the end of the period on December 31, 2024, were $1,496.0 million, down from $1,931.6 million at the end of the previous year[69]. Long-term Inflows and Flows - The company achieved $25.6 billion in net long-term inflows for Q4 2024, up from $16.5 billion in Q3 2024, with a full-year total of $65.1 billion[8][7]. - Long-term inflows for the quarter were $133.7 billion, a 24.7% increase from $107.2 billion in the previous quarter, and a 40.1% increase year-over-year[55]. - The company experienced total net flows of $60.9 billion for the quarter, a 379.5% increase from $12.7 billion in the previous quarter[55]. - Total net flows for the twelve months ended December 31, 2024, reached $110.3 billion, a 143.0% increase from $45.4 billion in the previous year[64]. Shareholder Returns - The company declared a cash dividend of $0.205 per share for Q4 2024, payable on March 4, 2025[34]. - The company repurchased 1.4 million shares for $25 million during Q4 2024, maintaining a zero net debt position[6][7]. Tax and Regulatory - The effective tax rate for Q4 2024 was 24.8%, down from 28.6% in Q3 2024, primarily due to the release of certain tax reserves[18][22]. - The effective tax rate on adjusted net income was 22.2% in Q4 2024, up from 9.9% in Q4 2023, mainly due to prior year tax benefits and changes in income mix across tax jurisdictions[30]. Market Performance - Market gains and losses for the quarter resulted in a decrease of $2.5 billion, contrasting with a gain of $49.8 billion in the previous quarter[55]. - Market gains for the twelve months ended December 31, 2024, totaled $101.5 billion in the Americas, $16.3 billion in Asia Pacific, and $24.9 billion in EMEA, reflecting a robust market performance[59].