Victory Capital’s Record Third-Quarter Earnings Shine

Victory Capital Holdings ( (VCTR) ) has released its Q3 earnings. Here is a breakdown of the information Victory Capital Holdings presented to its investors.

Victory Capital Holdings, Inc. is a diversified global asset management firm headquartered in San Antonio, Texas, offering a wide array of investment products and services including mutual funds, ETFs, and alternative investments through its autonomous Investment Franchises and Solutions Platform. In its latest earnings report for the third quarter of 2024, Victory Capital reported a strong financial performance with record earnings per share. The company saw total client assets rise to $181.1 billion, and it achieved a GAAP net income per diluted share of $1.24, with an adjusted net income with tax benefit per diluted share of $1.35. The firm also declared a 7% increase in its quarterly cash dividend. Key financial highlights include a GAAP operating margin of 53.3% and a significant year-over-year increase of 57.6% in GAAP net income. Additionally, adjusted EBITDA reached $121.3 million, marking a 13.1% increase from the previous year. The company continues to focus on its strategic integration with Amundi, expecting $100 million in annualized expense synergies. Moving forward, Victory Capital remains optimistic about realizing these synergies within two years of closing the transaction, while maintaining its client-first approach.