NEWS RELEASE 1 ▪ Quarter-end assets under management (AUM) of $1.68 trillion ▪ Net client outflows of $14.9 billion ▪ Diluted earnings per common share (EPS) of $2.24; Adjusted diluted EPS of $2.24 ▪ Returned $395 million to stockholders from the recurring quarterly dividend and stock repurchases Assets Under Management During Q2 2025, assets under management (AUM) increased $110.5 billion to $1.68 trillion. The components of the change in AUM, by asset class, are shown in the table below. | | | | | | Three ...

Analysts forecast 'Net revenues- Investment advisory fees' to reach $1.56 billion. The estimate indicates a change of -1.8% from the prior-year quarter. The consensus estimate for 'Net revenues- Investment Advisory Fees- Alternatives' stands at $79.68 million. The estimate indicates a year-over-year change of -13.1%. Wall Street analysts forecast that T. Rowe Price (TROW) will report quarterly earnings of $2.11 per share in its upcoming release, pointing to a year-over-year decline of 6.6%. It is anticipate ...

Core Viewpoint - T. Rowe Price (TROW) is anticipated to report a year-over-year decline in earnings due to lower revenues, with the consensus estimate indicating a potential impact on its near-term stock price [1][3]. Earnings Expectations - The upcoming earnings report is expected to show quarterly earnings of $2.10 per share, reflecting a year-over-year decrease of 7.1%, and revenues are projected to be $1.71 billion, down 1.4% from the previous year [3]. - A positive movement in stock price may occur if the actual earnings exceed expectations, while a miss could lead to a decline [2]. Estimate Revisions - The consensus EPS estimate has been revised 9.62% higher in the last 30 days, indicating a collective reassessment by analysts [4]. - The Most Accurate Estimate for T. Rowe is higher than the Zacks Consensus Estimate, resulting in an Earnings ESP of +0.99%, suggesting a bullish outlook from analysts [12]. Earnings Surprise Prediction - The Zacks Earnings ESP model indicates that a positive Earnings ESP reading is a strong predictor of an earnings beat, especially when combined with a Zacks Rank of 1 (Strong Buy) [10]. - T. Rowe currently holds a Zacks Rank of 1, enhancing the likelihood of beating the consensus EPS estimate [12]. Historical Performance - In the last reported quarter, T. Rowe exceeded the expected earnings of $2.09 per share by delivering $2.23, resulting in a surprise of +6.70% [13]. - Over the past four quarters, T. Rowe has beaten consensus EPS estimates three times [14]. Industry Context - In the broader financial services sector, Blue Owl Capital Inc. is expected to report earnings of $0.21 per share, reflecting a year-over-year increase of 10.5%, with revenues projected to rise by 22.5% [18][19]. - Blue Owl Capital's Earnings ESP is -0.82%, combined with a Zacks Rank of 3 (Hold), making it challenging to predict an earnings beat [20].

Company Performance - T. Rowe Price (TROW) closed at $106.44, marking a +1.66% move from the prior day, outperforming the S&P 500's daily gain of 0.06% [1] - The stock has risen by 11.4% in the past month, leading the Finance sector's gain of 4.07% and the S&P 500's gain of 5.88% [1] Earnings Forecast - The company is scheduled to release its earnings on August 1, 2025, with projected earnings per share (EPS) of $2.1, reflecting a 7.08% decrease from the same quarter last year [2] - The consensus estimate for revenue is $1.71 billion, down 1.37% from the prior-year quarter [2] Annual Estimates - For the annual period, Zacks Consensus Estimates anticipate earnings of $8.84 per share and revenue of $7.07 billion, signifying shifts of -5.25% and -0.38% respectively from the last year [3] Analyst Estimates - Recent changes to analyst estimates for T. Rowe Price may indicate a changing landscape of near-term business trends, with positive revisions seen as a sign of optimism about the business outlook [3] Zacks Rank System - The Zacks Rank system, which ranges from 1 (Strong Buy) to 5 (Strong Sell), has a track record of superior performance, with 1 stocks contributing an average annual return of +25% since 1988 [5] - T. Rowe Price currently features a Zacks Rank of 2 (Buy) [5] Valuation Metrics - T. Rowe Price holds a Forward P/E ratio of 11.84, which is a premium compared to the average Forward P/E of 11.81 for its industry [6] - The PEG ratio for TROW is currently 3.11, compared to the Financial - Investment Management industry's average PEG ratio of 1.45 [6] Industry Overview - The Financial - Investment Management industry is part of the Finance sector and currently holds a Zacks Industry Rank of 22, placing it in the top 9% of all 250+ industries [7] - The Zacks Industry Rank assesses the strength of industry groups by calculating the average Zacks Rank of individual stocks within those groups [7]

Core Insights - T. Rowe Price (TROW) stock closed at $103.05, up 2.4% from the previous session, outperforming the S&P 500's gain of 0.32% [1] - The company is set to release its earnings report on August 1, 2025, with an expected EPS of $2.08, reflecting a 7.96% decrease year-over-year, and anticipated revenue of $1.7 billion, down 1.89% from the same quarter last year [2] - For the annual period, earnings are projected at $8.77 per share and revenue at $6.99 billion, indicating declines of 6% and 1.42% respectively from the previous year [3] Analyst Estimates and Ratings - Recent analyst estimate revisions for T. Rowe Price suggest confidence in the company's performance, with a 6.2% increase in the Zacks Consensus EPS estimate over the past month [5] - T. Rowe Price currently holds a Zacks Rank of 2 (Buy), indicating a favorable outlook based on the Zacks Rank system, which has shown an average annual return of +25% for 1 rated stocks since 1988 [5] Valuation Metrics - T. Rowe Price has a Forward P/E ratio of 11.47, which is lower than the industry average of 11.65, suggesting it is trading at a discount compared to its peers [6] - The company has a PEG ratio of 3.01, while the Financial - Investment Management industry average is 1.4, indicating a higher valuation relative to projected earnings growth [7] Industry Context - The Financial - Investment Management industry, to which T. Rowe Price belongs, holds a Zacks Industry Rank of 16, placing it in the top 7% of over 250 industries [7] - The strength of individual industry groups is measured by the Zacks Industry Rank, with top-rated industries outperforming lower-rated ones by a factor of 2 to 1 [8]

Core Insights - T. Rowe Price (TROW) shows potential as a portfolio addition due to notable revisions in earnings estimates, with an improving earnings outlook [1][10] - The rising trend in estimate revisions reflects growing analyst optimism regarding the company's earnings prospects, which is expected to positively influence its stock price [2][9] Current-Quarter Estimate Revisions - The current quarter's earnings estimate is projected at $2.08 per share, indicating a year-over-year decline of 8.0% [6] - Over the past 30 days, the Zacks Consensus Estimate for T. Rowe has increased by 7.67%, with four estimates moving higher and one lower [6] Current-Year Estimate Revisions - For the full year, the earnings estimate stands at $8.77 per share, reflecting a year-over-year decrease of 6.0% [7] - Recent trends show five upward revisions for the current year, with no negative revisions, resulting in a 6.2% increase in the consensus estimate [7][8] Zacks Rank and Performance - T. Rowe Price has achieved a Zacks Rank 2 (Buy) due to favorable estimate revisions, which is a reliable indicator for investors [9] - Stocks with Zacks Rank 1 (Strong Buy) and 2 (Buy) have historically outperformed the S&P 500 [9] Bottom Line - The stock has gained 9.7% over the past four weeks, driven by solid estimate revisions, suggesting that earnings growth prospects may lead to further stock price increases [10]

Core Insights - Moretus Research provides high-quality equity research focused on U.S. public markets, aiming to deliver clarity, conviction, and alpha for serious investors [1] - The research methodology emphasizes a structured framework to identify companies with durable business models and mispriced cash flow potential, while also considering intelligent capital allocation [1] - Valuation practices are based on sector-relevant multiples tailored to each company's business model, emphasizing comparability and relevance [1] Research Focus - Moretus Research targets underappreciated companies that are undergoing structural changes or temporary dislocations, where disciplined analysis can yield asymmetric returns [1] - The research combines rigorous fundamental analysis with a judgment-driven process, avoiding noise and overly complex forecasting [1] - The firm aims to elevate the standard for independent investment research by providing actionable insights and a strong filter for essential factors in equity analysis [1]

Core Insights - T. Rowe Price has launched two new active transparent equity ETFs: T. Rowe Price Global Equity ETF (TGLB) and T. Rowe Price International Equity Research ETF (TIER), which began trading on NYSE Arca [1][2] Fund Details - TGLB focuses on global developed markets, aiming for a concentrated portfolio of 45-60 high conviction investments, maintaining geographic exposures similar to the MSCI World Index [3] - TIER employs fundamental research to create a diversified portfolio of 300-500 securities, aligning with the MSCI All Country World ex USA Index, covering both developed and emerging markets outside the U.S. [4] Management and Strategy - TGLB is managed by Peter Bates, who has 21 years of experience at T. Rowe Price, while TIER is co-managed by a team of six investment professionals [4][5] - The new ETFs are part of T. Rowe Price's strategy to enhance access to international investing options and leverage its global equities research capabilities [5] Company Overview - T. Rowe Price manages $1.62 trillion in client assets as of May 31, 2025, with a significant portion related to retirement [6] - The firm has a long-standing reputation for investment excellence and independent proprietary research, emphasizing a culture of integrity and client interests [6]

Core Insights - Oak Hill Advisors (OHA) acted as the Administrative Agent and Lead Left Arranger for the private senior debt financing for Montagu Private Equity's acquisition of Tyber Medical, a prominent orthopedic device manufacturer [1][2] - The acquisition will merge Tyber Medical with Montagu's existing portfolio companies, Resolve Surgical Technologies and Intech Medical, to form a scaled contract development and manufacturing organization (CDMO) [2] - OHA's extensive experience in the CDMO sector enabled it to efficiently assess the financing opportunity [3] Company Insights - Tyber Medical specializes in orthopedic devices, providing FDA-cleared and CE-marked implants for spinal, extremity, and trauma markets, with over 50 systems released since its inception in 2012 [7] - Montagu Private Equity focuses on mid-market investments, particularly in businesses with essential products in growing markets, managing €14 billion in assets [8][9] - OHA has approximately $95 billion in assets under management across various credit strategies as of March 31, 2025, emphasizing long-term partnerships and customized credit solutions [5][6]

Company Performance - T. Rowe Price (TROW) closed at $93.21, reflecting a +1.78% increase from the previous day, outperforming the S&P 500 which gained 0.94% [1] - Over the past month, TROW shares have decreased by 6.61%, while the Finance sector saw a slight loss of 0.56% and the S&P 500 gained 1.67% [1] Earnings Expectations - The upcoming earnings report is expected to show an EPS of $1.99, representing an 11.95% decline compared to the same quarter last year [2] - Revenue is projected at $1.7 billion, down 2.16% from the previous year [2] - For the full year, analysts anticipate earnings of $8.26 per share and revenue of $6.92 billion, indicating changes of -11.47% and -2.5% respectively from last year [3] Analyst Estimates - Recent changes in analyst estimates for T. Rowe Price suggest a shifting business landscape, with positive revisions indicating optimism about profitability [4] - The Zacks Rank system, which incorporates estimate changes, currently ranks T. Rowe Price at 3 (Hold) [6] Valuation Metrics - T. Rowe Price has a Forward P/E ratio of 11.09, which is higher than the industry average of 10.84 [7] - The company’s PEG ratio stands at 2.97, compared to the Financial - Investment Management industry average PEG ratio of 1.28 [7] Industry Context - The Financial - Investment Management industry is currently ranked 167 out of over 250 industries, placing it in the bottom 33% [8] - Research indicates that industries in the top 50% outperform those in the bottom half by a factor of 2 to 1 [8]