BrightSphere Investment Group (BSIG) Tops Q3 Earnings and Revenue Estimates

Core Insights - BrightSphere Investment Group (BSIG) reported quarterly earnings of $0.59 per share, exceeding the Zacks Consensus Estimate of $0.52 per share, and showing an increase from $0.45 per share a year ago, resulting in an earnings surprise of 13.46% [1] - The company achieved revenues of $123.1 million for the quarter ended September 2024, surpassing the Zacks Consensus Estimate by 7.09% and up from $107.3 million year-over-year [2] - BrightSphere's stock has increased approximately 37.6% since the beginning of the year, outperforming the S&P 500's gain of 21.9% [3] Earnings Outlook - The current consensus EPS estimate for the upcoming quarter is $0.99 on revenues of $160.3 million, and for the current fiscal year, it is $2.40 on revenues of $488.84 million [7] - The estimate revisions trend for BrightSphere is favorable, leading to a Zacks Rank 1 (Strong Buy) for the stock, indicating expected outperformance in the near future [6] Industry Context - The Financial - Investment Management industry, to which BrightSphere belongs, is currently ranked in the top 9% of over 250 Zacks industries, suggesting a strong performance potential [8] - Affiliated Managers Group (AMG), another company in the same industry, is expected to report quarterly earnings of $4.82 per share, reflecting a year-over-year increase of 18.1% [9]