On October 24, 2023, Invesco Ltd (IVZ, Financial) released its financial results for the third quarter of 2023. Despite the continued market volatility and uncertain geopolitical environment, the company reported positive net long-term inflows and maintained a strong balance sheet.
Financial Performance
Invesco Ltd (IVZ, Financial) reported a diluted EPS of $0.29 and an adjusted diluted EPS of $0.35 for the third quarter. The company saw $2.6 billion of net long-term inflows for the quarter, with $11.8 billion from ETFs. The ending AUM was $1,487.3 billion, a decrease of 3.3% from the prior quarter. The operating margin was 15.8%, while the adjusted operating margin was 28.2%. The company continued to maintain its balance sheet strength, keeping its debt below $1.5 billion with net debt reduced to $247.6 million.
Commentary from the CEO
Andrew Schlossberg, President and CEO, commented on the company's performance, stating:
Despite the continued market volatility and uncertain geopolitical environment, we remain highly focused on client engagement, delivering investment quality, and transforming our business as we reposition for the trends that will drive the asset management industry forward."
Dividends and Shareholder Returns
Invesco Ltd (IVZ, Financial) declared a third quarter cash dividend of $0.20 per share to holders of common shares. The dividend is payable on December 4, 2023, to common shareholders of record at the close of business on November 10, 2023, with an ex-dividend date of November 9, 2023.
Future Outlook
Despite the challenges faced by the industry, Invesco Ltd (IVZ, Financial) remains focused on managing expenses and aligning its expense base to improve profitability. The company is well-positioned to capitalize on growth areas such as ETFs, Private Markets, Fixed Income, and its business in the Asia Pacific region.
