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Jun 30, 2024
SEI Q2 2024 Earnings Report
Second quarter financial results reported with profit growth driven by focus on capital allocation, operational leverage, and revenue growth.
Key Takeaways
SEI Investments Company reported second-quarter 2024 financial results with diluted earnings per share of $1.05, compared to $0.89 in second-quarter 2023. The company saw a 6% profit growth quarter over quarter, driven by capital allocation, operational leverage, and revenue growth.
Diluted earnings per share were $1.05 in second-quarter 2024 compared to $0.89 in second-quarter 2023.
Revenues from Assets under management, administration, and distribution fees increased primarily from higher assets under administration due to cross sales to existing alternative investment clients of the Investment Managers segment as well as new sales in the segment.
Average assets under administration increased $141.8 billion, or 16%, to $1.0 trillion during the second-quarter 2024, as compared to $863.6 billion during the second-quarter 2023.
Repurchased shares of SEI common stock were 1.6 million for $111.2 million during the second-quarter 2024 at an average price of $67.44 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 regarding the momentum generated across our markets; the adoption of our platforms; the areas in which we invest; whether we are positioned to capitalize on opportunities; and when and if we will generate net annualized recurring revenues from sales events that occurred during the quarter, as well as the amount of any such revenue.
Positive Outlook
- Momentum generated across our markets
- Adoption of our platforms
- Areas in which we invest
- Positioned to capitalize on opportunities
- Generate net annualized recurring revenues from sales events
Challenges Ahead
- Based on the current beliefs and expectations of our management
- Subject to significant risks and uncertainties
- Many of which are beyond our control or are subject to change
- The assumptions upon which we base our forward-looking statements are reasonable, they could be inaccurate
- Some of the risks and important factors that could cause actual results to differ from those described in our forward-looking statements can be found in the “Risk Factors” section of our Annual Report on Form 10-K
Revenue & Expenses
Visualization of income flow from segment revenue to net income