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Virtus Investment Partners (VRTS) Q2 FY2024 earnings: revenue $224 million, up 5.1% on the year

Virtus Investment Partners, Inc. (VRTS) reported revenue of $224 million for Q2 FY2024, the quarter ended 30 June 2024, up 5.1% on the same quarter a year earlier. Net income was $18 million, down 41.8% on the year, and diluted earnings per share $2.43. The figures are the company's own, from the 10-Q it filed with the SEC on 8 August 2024.

Revenue$224 millionup 5.1%
Net income$18 milliondown 41.8%
Diluted EPS$2.43
QuarterQ2 FY2024ended 30 June 2024

The quarter, against the one before and a year earlier

LineQ2 FY2024Q1 FY2024A year earlierChange on the year
Revenue224222n/an/a
Operating income44.232.3n/an/a
Operating margin19.7%14.5%n/a
Pre-tax income37.846.7n/an/a
Income tax11.78.8n/an/a
Effective tax rate31.1%18.9%n/a
Net income17.629.9n/an/a
Net margin7.8%13.4%n/a
Diluted EPS$2.43$4.10n/an/a
$ million except per share.
Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.

Cash flow and capital returned

LineQ2 FY2024Q1 FY2024A year earlierChange on the year
Operating cash flow70.0-34.5n/an/a
Capital expenditure1.31.9n/an/a
Free cash flow68.6-36.5n/an/a
Free cash flow margin30.6%-16.4%n/a
Cash from investing-1.3-2.5n/an/a
Cash from financing34.3-56.1n/an/a
Depreciation and amortisation18.418.2n/an/a
Share-based compensation9.26.8n/an/a
Buybacks12.55.0n/an/a
Dividends paid13.714.9n/an/a
Dividend per share$1.90$1.90n/an/a
Diluted shares, weighted7m7mn/an/a
Shares outstanding at period end7m7mn/an/a

Cash flow lines for the quarter; where the company files them year to date, the quarter is the difference between two filings.

Balance sheet at quarter end

LineQ2 FY2024Q1 FY2024A year earlierChange on the year
Shareholders' equity869872n/an/a
Non-controlling interest3.44.4n/an/a
Redeemable equity129115n/an/a
Debt248253n/an/a
Other liabilities2,3992,304n/an/a
Total liabilities and equity3,6483,548n/an/a
Fixed assets25.126.1n/an/a
Goodwill397397n/an/a
Intangible assets402417n/an/a
Cash and equivalents351248n/an/a
Other assets2,4732,460n/an/a
Total assets3,6483,548n/an/a

Questions

What was Virtus Investment Partners' revenue in Q2 FY2024?

Virtus Investment Partners (VRTS) reported revenue of $224 million for Q2 FY2024, the quarter ended 30 June 2024, up 5.1% on the same quarter a year earlier.

How much did Virtus Investment Partners earn in Q2 FY2024?

Net income for Q2 FY2024 was $18 million, down 41.8% on the year, and diluted earnings per share $2.43.

When did Virtus Investment Partners report Q2 FY2024 results?

Virtus Investment Partners filed its 10-Q for the quarter ended 30 June 2024 with the SEC on 8 August 2024.

Quarterly results, the last 12 quarters

Q3 FY2023Q4 FY2023 *Q1 FY2024Q2 FY2024Q3 FY2024Q4 FY2024 *Q1 FY2025Q2 FY2025Q3 FY2025Q4 FY2025 *Q1 FY2026Q2 FY2026
Revenue219215222224227233218211216208200201
Operating income44.939.032.344.255.350.736.645.247.139.815.427.3
Operating margin20%18%15%20%24%22%17%21%22%19%8%14%
Pre-tax income50.351.846.737.864.958.540.455.144.447.313.353.0
Tax rate24%26%19%31%24%33%31%22%29%28%54%16%
Net income30.930.829.917.641.033.328.642.431.935.57.145.3
Net margin14%14%13%8%18%14%13%20%15%17%4%22%
Diluted EPS$4.19$4.21$4.10$2.43$5.71$4.66$4.05$6.12$4.65$5.17$1.05$6.68
Operating cash flow1287.3-34.570.069.1-103-3.875.8108-24735.957.4
Capital expenditure3.92.41.91.30.41.93.01.61.40.92.41.3
Free cash flow1244.9-36.568.668.7-105-6.874.2107-24833.556.1
Buybacks15.020.05.012.514.912.520.030.00.010.010.010.5
Dividends paid12.013.714.913.713.715.917.115.815.416.317.916.3
Shares outstanding7m7m7m7m7m7m7m7m7m7m7m7m
Filing10-Q10-K10-Q10-Q10-Q10-K10-Q10-Q10-Q10-K10-Q10-Q
Each quarter as filed, linked to its filing.
Read more* The fourth quarter is the full year less the first three quarters, because the company files the year and not the quarter on its own. A fourth quarter's EPS and diluted share count are from the company's results press release for that quarter, used where the release gives the same revenue and net income as the table. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and the share count are as they are. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.

Source

10-Q for the period ended 30 June 2024, filed 8 August 2024, accession 0000883237-24-000103: the filing on EDGAR. All of Virtus Investment Partners, Inc.'s filings: EDGAR company page.

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