T. Rowe Price Q2 2026: Record $1.89T AUM and EPS of $2.88, but $6.5B in Outflows
TROW sits 31% above its 52-week low of $85.22.
Summary
T. Rowe Price posted Q2 2026 earnings with record AUM of $1.89 trillion and GAAP EPS of $2.88, a 29% year-over-year increase, but net outflows of $6.5 billion and a restructuring charge highlight ongoing challenges.
Key Events · Earnings and Guidance · TROW
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Record AUM of $1.89 Trillion
Driven by $190.2 billion in market appreciation during Q2, assets under management climbed to $1.89 trillion at June 30, 2026, marking a 12.9% increase from a year ago.
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GAAP EPS of $2.88, Up 29%
Higher investment advisory fees and net investment gains lifted Q2 2026 diluted earnings per share to $2.88, compared with $2.24 in the prior-year quarter.
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$6.5 Billion in Net Outflows
Net client outflows reached $6.5 billion in Q2, as $13.5 billion in equity redemptions were partially offset by inflows into fixed income and alternatives.
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Restructuring Charge of $6.7 Million
An ongoing expense management program aimed at slowing expense growth resulted in a $6.7 million charge in Q2, bringing the year-to-date total to $16.7 million for severance and other costs.
Analysis · TROW · Finance
A 29% jump in GAAP diluted EPS to $2.88 underscores a powerful Q2 2026 for T. Rowe Price, fueled by record assets under management of $1.89 trillion and strong market gains. Yet the quarter also saw $6.5 billion in net outflows, extending a pattern of client redemptions. Adding to the mixed picture, a $6.7 million restructuring charge reflects an ongoing expense management program. While top-line growth impresses, persistent outflows and cost-cutting measures temper the enthusiasm.
At the time of this filing, TROW was trading at $111.85 on NASDAQ in the Finance sector, with a market capitalization of approximately $24B. The 52-week trading range was $85.22 to $122.00. This filing was assessed with neutral market sentiment and an importance score of 7 out of 10.