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Virtus Investment +3.4% as Q2 EPS beats

Jul. 26, 2019 9:59 AM ETVirtus Investment Partners, Inc. (VRTS) StockVRTSBy: Liz Kiesche, SA News Editor
  • Virtus Investment Partners (NASDAQ:VRTSgains 3.4% after Q2 adjusted EPS of $3.63 beat the average analyst estimate of $3.49; increased from $2.73 in Q1 and $3.36 in the year-ago quarter.
  • Q2 revenue of $140.5M misses consensus of $144.9M; compares with $130.7M in Q1 and $132.9M in Q2 2018.
  • Q2 adjusted operating margin of 36.1% compares with 29.8% in Q1 and 34.0% in the year-ago quarter.
  • Q2 net flows of $0.1B compares with net outflows of $0.1B in Q1 and net inflows of $1.3B in Q2 2018.
  • Long-term assets under management increased 3% to $103.3B at June 30, 2019 from $99.9B at March 31, 2019 as a result of market appreciation and modestly positive net inflows.
  • Conference call at 10:00 Am ET.
  • Previously: Virtus Investment EPS beats by $0.14, misses on revenue (July 26)

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