Victory Capital Holdings Inc

Latest Results (14.08.2024):

Total Client Assets

Victory Capital Holdings Inc. reported total client assets of $173.8 billion for the second quarter of 2024. This includes assets under management (AUM) of $168.7 billion and other assets of $5.1 billion. The total AUM saw a decrease of $1.7 billion from the previous quarter, primarily due to net outflows.

Revenue Growth

For the second quarter of 2024, Victory Capital Holdings Inc. reported a revenue increase of 1.7%, reaching $219.6 million compared to $215.9 million in the first quarter. This growth was attributed to higher average AUM over the comparable period.

Net Income and Earnings Per Share

Victory Capital Holdings Inc. saw a significant increase in GAAP net income for the second quarter of 2024, which rose by 33.3% to $74.3 million, or $1.12 per diluted share, up from $55.7 million, or $0.84 per diluted share, in the prior quarter. Adjusted net income with tax benefit also increased to $86.6 million, or $1.31 per diluted share.

Operating Margin

The GAAP operating margin for Victory Capital Holdings Inc. expanded to 50.4% in the second quarter of 2024, up from 39.3% in the first quarter. This improvement was driven by a non-cash $20.4 million difference in amounts recorded to the change in the fair value of consideration payable for acquisitions and a decrease in compensation-related expenses.

Dividend Increase

Victory Capital Holdings Inc.'s Board of Directors authorized an 11% increase in the regular quarterly cash dividend, raising it to $0.41 per share. This dividend is payable on September 25, 2024, to shareholders of record on September 10, 2024, reflecting the company's strong cash flow generation and financial performance.