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Dec 31, 2023
T. Rowe Price Q4 2023 Earnings Report
Reported results for the fourth quarter and full year of 2023.
Key Takeaways
T. Rowe Price Group reported Q4 2023 diluted EPS of $1.90 and adjusted diluted EPS of $1.72. Year-end assets under management reached $1.445 trillion. The firm experienced net client outflows of $28.3 billion for the quarter.
Year-end assets under management of $1.445 trillion.
Net client outflows of $28.3 billion for Q4 2023.
Diluted earnings per common share (EPS) of $1.90 for Q4 2023.
Adjusted diluted EPS of $1.72 for Q4 2023.
T. Rowe Price
T. Rowe Price
Forward Guidance
The firm estimates that its effective tax rate for the full year 2024 will be in the range of 23% to 27% on a U.S. GAAP basis, and 23% to 26% on a non-GAAP basis.
Positive Outlook
- Lower expected valuation allowances related to our UK-based deferred tax assets
- Lower state tax rate associated with changes in income apportionment rules in certain jurisdictions