Stock Monitor: Carlyle Group Post Earnings Reporting
LONDON, UK / ACCESSWIRE / February 15, 2018 / Active-Investors.com has just released a free earnings report on Invesco Ltd (NYSE: IVZ). If you want access to this report all you need to do is sign up now by clicking the following link www.active-investors.com/registration-sg/'symbol=IVZ. The Company reported its fourth quarter fiscal 2017 and full fiscal year 2017 operating and financial results on January 31, 2018. The investment management Company recorded its ninth consecutive year of positive long-term net flows. Register today and get access to over 1000 Free Research Reports by joining our site below:
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Active-Investors.com is currently working on the research report for The Carlyle Group L.P. (NASDAQ: CG), which also belongs to the Financial sector as the Company Invesco. Do not miss out and become a member today for free to access this upcoming report at:
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Active-Investors.com is focused on giving you timely information and the inside line on companies that matter to you. This morning, Invesco most recent news is on our radar and our team decided to put out a fantastic report on the company that is now available for free below:
www.active-investors.com/registration-sg/'symbol=IVZ
Earnings Highlights and Summary
Invesco's operating revenues surged 15.1% to $1.38 billion in Q4 2017 from $1.19 billion in Q4 2016, primarily due to increased investment management fees.
During Q4 2017, Invesco's investment management fees increased 16% to $1.10 billion from $946.9 million in Q4 2016, due to an increase of 4.4% in average Assets Under Management (AUM) between the periods.
For the full year FY17, Invesco's operating revenues advanced 9.0% to $5.16 billion versus $4.73 billion in FY16, primarily due to increased investment management fees. The Company's investment management fees jumped 9.4% to $4.13 billion in FY17 from $3.77 billion in FY16, due to higher average AUM of 10.9%.
During Q4 2017, Invesco's service and distribution fees grew 4% to $217.5 million compared to $209.1 million in Q4 2016. The Company's performance fees were $43.0 million in the reported quarter compared to $17.5 million in the year earlier same quarter. The Company's performance fees recorded in Q4 2017 arose primarily from real estate and bank loan products.
For Q4 2017, Invesco's operating expenses increased 14.5% to $1.03 billion on a y-o-y basis. The Company's third-party distribution, service, and advisory expenses increased 12.7% to $390.9 million in the reported quarter, consistent with the increase in revenues resulting from the increase in retail AUM.
On a GAAP basis, Invesco's net income attributable to common shareholders came in at $408.2 million, or $0.99 per share, for Q4 2017 compared to $226.5 million, or $0.55 per share, in Q4 2016. On an adjusted basis, the Company reported earnings of $0.73 per share versus $0.59 per share in the year earlier comparable quarter, outpacing Wall Street's estimates of $0.70 per share.
For FY17, Invesco's GAAP net income attributable to common shareholders was $1.13 billion, or $2.75 per share, compared to $854.2 million, or $2.06 per share, in FY16. On an adjusted basis, the Company posted earnings of $2.70 per share in FY17 versus $2.23 per share in FY16.
Assets Under Management (AUM)
Invesco's total AUM were $937.6 billion as on December 31, 2017, compared to $917.5 billion as on September 30, 2017, an increase of $20.1 billion on a q-o-q basis and an increase of $124.7 billion during the year. The Company's long-term inflows were $4.4 billion and total net inflows were $2.7 billion for the reported quarter. Invesco achieved long-term net flows of $11.5 billion for 2017.
Invesco's net market gains led to a $14.9 billion increase in AUM during Q4 2017 compared to a $15.0 billion increase in Q3 2017. The Company's average AUM were $930.3 billion during the reported quarter compared to $890.8 billion for Q3 2017, reflecting an increase of 4.4%. Invesco's net market gains led to a $66.0 billion increase in AUM during FY17 compared to a $37.7 billion increase in FY16. Invesco's average AUM were $875.0 billion during FY17 compared to $788.8 billion in FY16, an increase of 10.9%.
Capital Management
As on December 31, 2017, Invesco's cash and cash equivalents totaled $2.01 billion compared to $1.33 billion as on December 31, 2016, with a long-term debt of $2.08 billion compared to $2.10 billion as on December 31, 2016. Invesco's credit facility balance was zero at December 31, 2017, versus $28.7 million at December 31, 2016.
As of December 31, 2017, the Company had 7,030 employees compared to 6,790 at December 31, 2016.
Stock Performance Snapshot
February 14, 2018 - At Wednesday's closing bell, Invesco's stock climbed 2.03%, ending the trading session at $33.17.
Volume traded for the day: 3.93 million shares, which was above the 3-month average volume of 2.96 million shares.
Stock performance in the past twelve-month period - up 3.66%
After yesterday's close, Invesco's market cap was at $13.29 billion.
Price to Earnings (P/E) ratio was at 12.07.
The stock has a dividend yield of 3.50%.
The stock is part of the Financial sector, categorized under the Asset Management industry. This sector was up 1.8% at the end of the session.
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