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Mar 31, 2023
Federated Hermes Q1 2023 Earnings Report
Reported earnings per diluted share of $0.78 and total assets under management reached a record $701.0 billion.
Key Takeaways
Federated Hermes reported a strong first quarter in 2023, with earnings per diluted share of $0.78, up from $0.61 in the same quarter last year. Total managed assets reached a record $701.0 billion, driven by increases in money market assets and gains across other long-term asset classes.
Earnings per diluted share (EPS) were $0.78 for Q1 2023, compared to $0.61 for the same quarter last year.
Net income for Q1 2023 was $69.6 million, compared to $55.9 million for Q1 2022.
Total managed assets reached a record $701.0 billion at March 31, 2023, up 11% from March 31, 2022.
Money market assets reached a record $505.8 billion at March 31, 2023, up 20% from March 31, 2022.
Forward Guidance
Federated Hermes' level of business activity and financial results are dependent upon many factors, including market conditions, investment performance and investor behavior.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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