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Sep 30, 2024
SEI Q3 2024 Earnings Report
Reported record quarter driven by net sales events, AUM, and AUA.
Key Takeaways
SEI Investments Company reported strong third-quarter results with a 13% increase in revenue and a 33% increase in operating income compared to the third quarter of 2023. EPS increased by 37%. Net sales events reached a record high, and total assets under management, administration, and advisement also hit a record of approximately $1.6 trillion.
Diluted EPS increased by 37% year-over-year to $1.19, representing the second-highest level in SEI’s history.
Consolidated revenues increased by 13% compared to Q3 2023, with positive growth in each business segment.
Combined assets under management, administration, and advisement reached a record balance of approximately $1.6 trillion at quarter-end.
Net sales events reached a record level of $46.4 million for the quarter.
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
- The degree to which our combination of stability, culture, balance sheet strength, client focus, and willingness to invest in innovation and scalable solutions will drive competitive differentiation and accelerated growth.
- Our strategic priorities and the strength of our execution against these priorities, including, without limitation, sales, client engagement, marketing and enterprise positioning, expanding our share of total addressable markets and the markets that we identify for expansion.
- Our investment priorities.
- The opportunities available to us for growth and to gain share in the markets in which we currently, and seek to, participate.
- Our opportunities for earnings growth, including the opportunities for growth for our Institutional business and delivering single products to our Institutional clients.
Challenges Ahead
- The performance of our various businesses, including the margins and profitability of such businesses.
- The strength and elements of our balance sheet.
- The strength of our pipelines and the momentum that each may have.
- Our run rate and the stability of the elements of that run rate.
- The effects of any change to the federal funds rate on our businesses or products and the revenue associated with these items.
Revenue & Expenses
Visualization of income flow from segment revenue to net income