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Jun 30, 2021
Victory Capital Q2 2021 Earnings Report
Victory Capital reported very strong financial results for the second quarter of 2021.
Key Takeaways
Victory Capital reported very strong second-quarter financial results, with revenue increasing 22.0% to $221.9 million compared to the same quarter last year. GAAP net income rose 54.9% to $69.3 million, or $0.93 per diluted share. The company's AUM increased to $161.9 billion.
Total Assets Under Management (AUM) reached $161.9 billion.
Long-term gross flows were $10.0 billion, with long-term net inflows of $0.3 billion.
GAAP operating margin was 42.9%, and adjusted EBITDA margin was 50.6%.
GAAP net income was $0.93 per diluted share, and adjusted net income with tax benefit was $1.18 per diluted share.
Forward Guidance
Victory Capital is focused on continuing to invest in technology, data, and distribution to yield positive results and prioritize serving clients.
Positive Outlook
- Generated excellent investment performance for clients.
- Achieved very strong financial results for shareholders.
- More than 70% of AUM outperformed respective benchmarks for the 3-, 5-, and 10-year periods.
- Recorded the fourth consecutive quarter of revenue and earnings growth.
- Adjusted EBITDA margin greater than 50%.
Challenges Ahead
- The press release does not include negative forward guidance.
- The press release does not include negative forward guidance.
- The press release does not include negative forward guidance.
- The press release does not include negative forward guidance.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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