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Jun 30, 2023
SEI Q2 2023 Earnings Report
Solid sales and revenue growth with increasing profitability, driven by strong performance in technology and investment processing businesses.
Key Takeaways
SEI Investments Company reported second-quarter 2023 financial results with diluted earnings per share of $0.89, compared to $0.81 in second-quarter 2022. The company saw revenue growth and increasing profitability, particularly in its technology and investment processing businesses. Strategic investments in talent, market presence, and resource alignment are expected to drive long-term, sustainable growth.
Diluted earnings per share were $0.89 in second-quarter 2023, up from $0.81 in second-quarter 2022.
Technology and investment processing businesses delivered strong performance, contributing to top- and bottom-line growth.
Net sales events in the Private Banks and Investment Managers segments during second-quarter 2023 were $31.1 million and are expected to generate net annualized recurring revenues of approximately $25.4 million when contract values are completely realized.
We repurchased 1.3 million shares of our common stock for $75.5 million during the second-quarter 2023 at an average price of $58.56 per share.
SEI
SEI
SEI Revenue by Segment
Revenue by Segment
Investment Managers Revenue
CapyFin.comPrivate Banks Revenue
CapyFin.comInvestment Advisors Revenue
CapyFin.comInstitutional Investors Revenue
CapyFin.comInvestments in New Businesses Revenue
CapyFin.com Forward Guidance
This release contains forward-looking statements within the meaning or the rules and regulations of the Securities and Exchange Commission. You should not place undue reliance on our forward-looking statements, as they are based on the current beliefs and expectations of our management and subject to significant risks and uncertainties, many of which are beyond our control or are subject to change.
Positive Outlook
- when and if we will generate net annualized recurring revenues from sales events that occurred during the quarter, as well as the amount of such revenue
- the duration of our customer relationships
- whether we will make prudent, strategic investments to drive long-term, sustainable growth for our stakeholders
- the elements of our strategic focus
- our sales momentum
Challenges Ahead
- You should not place undue reliance on our forward-looking statements
- they are based on the current beliefs and expectations of our management
- subject to significant risks and uncertainties
- many of which are beyond our control
- are subject to change
Revenue & Expenses
Visualization of income flow from segment revenue to net income