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Jun 30, 2024
Federated Hermes Q2 2024 Earnings Report
Total assets under management reached a record, driven by money market asset increases, while earnings per diluted share decreased due to a non-cash intangible asset impairment charge.
Key Takeaways
Federated Hermes reported a record $782.7 billion in total assets under management, driven by increases in money market assets. However, earnings per diluted share decreased to $0.20, including a significant non-cash intangible asset impairment charge of ($0.76) per diluted share. Net income also decreased to $21.0 million compared to the same quarter last year.
Total assets under management reached a record $782.7 billion.
Money market assets reached a record $586.6 billion.
Q2 2024 earnings per diluted share (EPS) were $0.20, including a ($0.76) per diluted share non-cash intangible asset impairment charge.
The board declared a dividend of $0.31 per share.
Federated Hermes
Federated Hermes
Forward Guidance
The company did not provide specific forward guidance in this earnings report.