Invesco(US:IVZ) Prnewswire·2024-07-23 10:55Core Insights - Invesco Ltd. reported a second quarter diluted EPS of $0.29 and an adjusted diluted EPS of $0.43, reflecting strong financial performance driven by significant net inflows and growth in assets under management (AUM) [1][6][12]. Financial Performance - The company achieved $16.7 billion in net long-term inflows for Q2 2024, a substantial increase from $6.3 billion in Q1 2024 [3][5]. - Ending AUM reached a record high of $1.7 trillion, marking a 12% year-over-year increase and a 3.2% rise from the previous quarter [1][4]. - Operating revenues for Q2 2024 were $1,483.3 million, a slight increase of 0.5% from Q1 2024 and 2.8% from Q2 2023 [6][21]. Net Flows and AUM - Retail and institutional net long-term inflows were $12.1 billion and $4.6 billion, respectively, with ETFs and Index contributing $12.8 billion to the inflows [3][5]. - Net market gains increased AUM by $27.4 billion, while foreign exchange rate movements decreased AUM by $3.9 billion [4][6]. Operating Margins and Income - The operating margin for Q2 2024 was 13.9%, with an adjusted operating margin of 30.9%, reflecting improved operational efficiency [6][12]. - Adjusted operating income increased by $38.8 million compared to Q1 2024, with adjusted operating expenses decreasing by $6.2 million [12][14]. Capital Management - The company reported net debt of $11.6 million, with a zero balance on its credit facility and cash and cash equivalents of $878.5 million as of June 30, 2024 [1][15]. - Invesco plans to initiate share buybacks starting in Q3 2024 as part of its capital management strategy [2][15]. Dividends - The company declared a second quarter cash dividend of $0.205 per share, payable on September 4, 2024, to common shareholders of record at the close of business on August 16, 2024 [15][16].