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IVZ

Invesco (IVZ) Lags on Q3 Earnings & Revenue Estimates

Have you been eager to see how Invesco Ltd.IVZ performed in Q3 in comparison with the market expectations? Let's quickly scan through the key facts from this GA-based asset manager's earnings release this morning:

An Earnings Miss

Invesco came out with adjusted earnings of 61 cents per share, which lagged the Zacks Consensus Estimate by a cent.

Lower top line was mainly responsible for the earnings miss.

How Was the Estimate Revision Trend?

You should note that the earnings estimate revisions for Invesco depicted a neutral stance prior to the earnings release. The Zacks Consensus Estimate has remained unchanged over the last 7 days.

However, Invesco has a decent earnings surprise history. Before posting the earnings miss in Q3, the company delivered positive surprises in the prior four quarters, with an average beat of 2.86%.

Revenue Came In Lower Than Expected

Invesco posted GAAP revenues of $1.27 billion, which missed the Zacks Consensus Estimate of $1.32 billion. Also, it compared unfavorably with the year-ago number of $1.31 billion.

Key Statistics:

  • Adjusted operating margin was 41.4%
  • Assets under management (AUM) of $755.8 billion
  • Long-term net outflows were $3.9 billion
  • Long-term debt stood at $1,689.3 million

What Zacks Rank Says

The estimate revisions that we discussed earlier have driven a Zacks Rank #5 (Strong Sell) for Invesco. However, since the latest earnings performance is yet to be reflected in the estimate revisions, the rank is subject to change. While things apparently look unfavorable, it all depends on what sense the just-released report makes to the analysts.

Check back later for our full write up on this Invesco earnings report!

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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