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Sep 30, 2023
T. Rowe Price Q3 2023 Earnings Report
Reported third quarter results with solid investment performance and progress on strategic initiatives and cost savings efforts, but flows remained under pressure.
Key Takeaways
T. Rowe Price reported Q3 2023 results with diluted EPS of $1.97 and adjusted diluted EPS of $2.17. The quarter saw solid investment performance and progress on strategic initiatives, but net client outflows of $17.4 billion continued to be a challenge. Quarter-end assets under management reached $1.35 trillion.
Assets under management were $1.35 trillion at the end of the quarter.
Net client outflows totaled $17.4 billion.
Diluted earnings per common share (EPS) was $1.97; Adjusted diluted EPS was $2.17.
Returned $386 million to stockholders from the recurring quarterly dividend and stock repurchases
Revenue by Segment
Forward Guidance
The firm estimates that its effective tax rate for the full year 2023 will be in the range of 26% to 30%, on a U.S. GAAP basis, and 26.5% to 29.5%, on a non-GAAP basis.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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