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Dec 31, 2022
Federated Hermes Q4 2022 Earnings Report
Federated Hermes' Q4 2022 earnings decreased due to lower net income, but record assets were achieved due to money market asset increases and investor interest.
Key Takeaways
Federated Hermes reported Q4 2022 earnings per diluted share of $0.63, compared to $0.71 for the same quarter last year, on net income of $56.5 million, compared to $68.6 million for Q4 2021. Total managed assets reached a record $668.9 billion at Dec. 31, 2022.
Q4 2022 earnings per diluted share were $0.63, including a ($0.27) per diluted share non-cash intangible asset impairment charge.
Full-year 2022 EPS was $2.65, also including the same ($0.27) per diluted share non-cash intangible asset impairment charge.
Total assets under management reached a record $668.9 billion.
The board declared a $0.27 per share quarterly dividend.