Have you been eager to see how Invesco Ltd. (IVZ) performed in Q4 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 Beat
Invesco came out with adjusted earnings per share of 63 cents, beating the Zacks Consensus Estimate of 62 cents.
Higher top line was primarily responsible for this earnings beat.
How Was the Estimate Revision Trend?
You should note that the earnings estimate revisions for Invesco depicted pessimism prior to the earnings release. The Zacks Consensus Estimate has moved 1.6% lower over the last 30 days.
However, Invesco has a decent earnings surprise history. Before posting an earnings beat in Q4, the company delivered positive surprises in the prior three quarters. Overall, the company surpassed the Zacks Consensus Estimate by an average of 6.5% in the trailing four quarters.
Revenue Came In Lower Than Expected
Invesco posted revenues of $905.8 million, which significantly missed the Zacks Consensus Estimate of $1.3 billion. However, it compared favorably with the year-ago number of $857.3 million.
Key Stats:
As of Dec 31, 2014, assets under management (AUM) were $792.4 billion. Further, the company returned $694 million worth of capital to the shareholders.
"Invesco continued to provide strong, long-term investment performance to our clients, with 81% of actively managed assets ahead of peers over five years," said Martin L. Flanagan, president and CEO of Invesco Ltd.
What Zacks Rank Says
The estimate revisions that we discussed earlier have driven a Zacks Rank #3 (Hold) 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 favorable, 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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