Victory Capital Q2 Revenue Jumps 24%, Crushes Estimates on Record Flows
VCTR sits 81% above its 52-week low of $57.03.
Summary
Victory Capital delivered a standout Q2, with revenue surging 24% year-over-year to $435.4M, well above the $386.1M consensus. Adjusted net income of $172.2M also beat expectations by a wide margin. The beat was fueled by higher average AUM, $28.5B in positive market action, and record gross sales with positive net flows across international, institutional, and ETF channels. Operating margins expanded partly due to lower acquisition-related costs. The company also repurchased 1.1M shares during the quarter. This follows a series of strong AUM reports and a recent $980M loan refinancing, reinforcing the firm's improving fundamentals. With the stock trading near its 52-week high and above the median analyst target of $95, the results may challenge the prevailing hold ratings.
At the time of this announcement, VCTR was trading at $103.10 on NASDAQ in the Finance sector, with a market capitalization of approximately $6.3B. The 52-week trading range was $57.03 to $105.54. This news item was assessed with positive market sentiment and an importance score of 8 out of 10. Source: Reuters.