Janus Henderson Group PLC (JHG, Financial) released its third-quarter 2023 results on November 1, 2023. The company reported an operating income of $108.3 million, compared to $117.9 million in the second quarter of 2023 and $120.7 million in the third quarter of 2022. The adjusted operating income, which accounts for one-time, acquisition, and transaction-related costs, was $125.4 million in Q3 2023, compared to $121.5 million in Q2 2023 and $125.4 million in Q3 2022.
Financial Highlights
The company's diluted earnings per share for Q3 2023 were $0.56, compared to $0.54 in Q2 2023 and $0.65 in Q3 2022. The adjusted diluted earnings per share for Q3 2023 were $0.64, compared to $0.62 in Q2 2023 and $0.61 in Q3 2022.
Ali Dibadj, Chief Executive Officer, commented on the results, stating:
I am pleased with our results this quarter, particularly amid geopolitical conflicts and economic uncertainties. Our performance remains solid, and we are seeing areas of strong market share gains, including in Fixed Income and U.S. Intermediary. Our financial results emphasize our cost discipline, as we have surpassed our original 'Fuel for Growth' savings and timing through delivering US$50 million in efficiencies a full year earlier than expected."
Dividend and Share Buyback
On October 31, 2023, the Board declared a third-quarter dividend of US$0.39 per share. Shareholders on the register on the record date of November 13, 2023, will be paid the dividend on November 30, 2023. Additionally, the Board authorized a new on-market share repurchase program under which JHG may repurchase up to $150 million of the Company’s common shares.
Assets Under Management and Flows
The company reported a closing AUM of $308.3 billion for Q3 2023, compared to $322.1 billion for Q2 2023 and $274.6 billion for Q3 2022. The company also reported net sales/redemptions of $(2.6) billion for Q3 2023, compared to $(0.5) billion for Q2 2023 and $(5.8) billion for Q3 2022.
Investment Performance
As of September 30, 2023, 65% of the company's AUM was outperforming its benchmark over a 1-year period, 58% over a 3-year period, 67% over a 5-year period, and 72% over a 10-year period.
Explore the complete 8-K earnings release (here) from Janus Henderson Group PLC for further details.
