Federated Hermes Q2 Revenue Beats by 3.5% on Asset Growth
FHI sits 30% above its 52-week low of $46.66.
Summary
Federated Hermes posted Q2 revenue of $502.78M, beating the $485.62M consensus by 3.5%, driven by higher average equity and money market assets. Adjusted EPS rose 19% YoY to $1.38. The company also repurchased 1.1M shares for $58.9M during the quarter. This follows a strong Q1 and the recent launch of an active ETF in June. The beat and buyback signal continued momentum in asset gathering and capital return, though the stock is already near its 52-week high.
At the time of this announcement, FHI was trading at $60.51 on NYSE in the Finance sector, with a market capitalization of approximately $4.5B. The 52-week trading range was $46.66 to $61.01. This news item was assessed with positive market sentiment and an importance score of 8 out of 10. Source: Reuters.