AssetMark Financial (AMK) Q4 Earnings Top Estimates

Core Viewpoint - AssetMark Financial reported quarterly earnings of $0.59 per share, exceeding the Zacks Consensus Estimate of $0.57 per share, and showing an increase from $0.46 per share a year ago, indicating a positive earnings surprise of 3.51% [1] Financial Performance - The company posted revenues of $158.18 million for the quarter ended December 2023, which fell short of the Zacks Consensus Estimate by 16.25% and decreased from $164.13 million year-over-year [1] - Over the last four quarters, AssetMark Financial has surpassed consensus EPS estimates two times and topped consensus revenue estimates just once [1] Stock Performance - AssetMark Financial shares have increased approximately 8.8% since the beginning of the year, outperforming the S&P 500's gain of 4.3% [2] Earnings Outlook - The current consensus EPS estimate for the upcoming quarter is $0.60 on revenues of $192.67 million, while the estimate for the current fiscal year is $2.53 on revenues of $802.26 million [4] - The estimate revisions trend for AssetMark Financial is mixed, resulting in a Zacks Rank 3 (Hold), suggesting the stock is expected to perform in line with the market in the near future [4] Industry Context - The Financial - Investment Management industry, to which AssetMark Financial belongs, is currently ranked in the top 9% of over 250 Zacks industries, indicating a favorable outlook compared to the bottom 50% of industries [5] - Another company in the same industry, Monroe Capital, is expected to report quarterly earnings of $0.28 per share, reflecting a year-over-year increase of 12% [5][6]