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Federated Hermes (FHI)
NYSE:FHI
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Earnings Data
Report Date
Jan 23, 2025TBA Not Confirmed
Period Ending
2024 (Q4)Consensus EPS Forecast
$0.98Last Year’s EPS
$0.96Same Quarter Last Year
Moderate Buy
Based on 7 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Oct 24, 2024
|% Change Since: 7.15%
|Next Earnings Date:Jan 23, 2025
Earnings Call Sentiment|Neutral
The earnings call demonstrated strong performance with record assets under management and positive sales in fixed income and private markets. However, challenges such as equity net redemptions, a decrease in money market fund share, regulatory impacts, and a significant sub-advised account redemption were noted.Company Guidance
During the Federated Hermes Q3 2024 earnings call, the company reported record assets under management of $800 billion, with money market assets reaching $593 billion and fixed income assets achieving a record high of $100.2 billion. Equities saw an increase of $5.7 billion to $83.6 billion, largely due to market gains of $6.5 billion, although offset by net redemptions of $1.4 billion. The call highlighted positive net sales in 15 equity strategies, with MDT funds and SMAs seeing $2.2 billion in net sales for the year. Fixed income recorded $1.4 billion in net sales, driven by institutional multi-sector strategies and core plus SMA strategy, while alternative/private markets increased by $622 million. The company also discussed future plans, including a $1.5 billion pipeline in net institutional mandates, and reported a total revenue increase of $5.9 million for Q3, despite facing $5.9 million in contra revenue from proxy costs.Record Assets Under Management
Federated Hermes achieved record assets under management of $800 billion, driven by money market assets of $593 billion and record fixed income assets of $100 billion.
Positive Net Sales in Fixed Income
Fixed income assets increased by $4.9 billion in Q3 to a record high of $100.2 billion, with net sales of $1.4 billion, reversing net redemptions from the previous quarter.
Growth in Private Markets
Assets in the alternative/private markets category increased by $622 million in Q3 to $20.7 billion, driven by FX rates and new fund initiatives.
Successful Launch of New Products
The company expanded distribution opportunities with the launch of 4 new active ETFs and 1 new collective investment trust, contributing to product growth.
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FHI Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
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FHI Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Oct 24, 2024 | $38.31 | $38.34 | +0.08% |
| Jul 25, 2024 | $34.83 | $34.46 | -1.06% |
| Apr 25, 2024 | $32.25 | $30.97 | -3.97% |
| Jan 25, 2024 | $32.17 | $32.90 | +2.27% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
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FAQ
When does Federated Hermes (FHI) report earnings?
Federated Hermes (FHI) is schdueled to report earning on Jan 23, 2025, TBA Not Confirmed.
What is Federated Hermes (FHI) earnings time?
Federated Hermes (FHI) earnings time is at Jan 23, 2025, TBA Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is FHI EPS forecast?
FHI EPS forecast for the fiscal quarter 2024 (Q4) is $0.98.
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