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Sep 30, 2022
Virtus Q3 2022 Earnings Report
Virtus Investment Partners reported a decrease in revenues and earnings due to market performance and net outflows.
Key Takeaways
Virtus Investment Partners reported a decrease in both GAAP and adjusted revenues and earnings for the third quarter of 2022, primarily due to lower average assets under management resulting from market performance and net outflows. Total assets under management decreased to $145.0 billion. The company returned $10.0 million to shareholders through share repurchases and increased the quarterly dividend by 10%.
Earnings per share - diluted was $4.25; adjusted earnings per share - diluted was $5.76.
Total sales were $5.7 billion, while net flows resulted in an outflow of $3.3 billion.
Assets under management totaled $145.0 billion.
Agreement to acquire AlphaSimplex Group, LLC was announced.
Forward Guidance
Virtus Investment Partners announced an agreement to acquire AlphaSimplex, expected to close near the end of the first quarter of 2023, which is subject to customary closing conditions, necessary regulatory approvals, and approvals by the mutual fund boards and fund shareholders.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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