StepStone Group Inc. (STEP) Tops Q4 Earnings and Revenue Estimates

Core Viewpoint - StepStone Group Inc. reported quarterly earnings of $0.33 per share, exceeding the Zacks Consensus Estimate of $0.28 per share, and showing an increase from $0.24 per share a year ago, representing an earnings surprise of 17.86% [1][2] Financial Performance - The company posted revenues of $356.81 million for the quarter ended March 2024, surpassing the Zacks Consensus Estimate by 116.82%, compared to revenues of $172.37 million a year ago [2] - Over the last four quarters, StepStone Group has exceeded consensus EPS estimates three times and has also topped consensus revenue estimates three times [2] Stock Performance - StepStone Group shares have increased approximately 18% since the beginning of the year, outperforming the S&P 500's gain of 11.3% [3] - The current consensus EPS estimate for the upcoming quarter is $0.35 on revenues of $176.52 million, and for the current fiscal year, it is $1.63 on revenues of $810.17 million [7] Industry Outlook - The Financial - Miscellaneous Services industry, to which StepStone Group belongs, is currently ranked in the top 35% of over 250 Zacks industries, indicating a favorable outlook [8] - Empirical research suggests a strong correlation between near-term stock movements and trends in earnings estimate revisions, which can impact StepStone Group's stock performance [5][6]