Federated Hermes (FHI) Reports Q2 Earnings: What Key Metrics Have to Say

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$0.96, an increase from $0.81 in the same quarter last year, representing a surprise of 7.87$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].