Morgan Stanley (NYSE:MS)

$ 117.81 1.67 (1.44%) Market Cap: 189.80 Bil Enterprise Value: 455.16 Bil PE Ratio: 17.93 PB Ratio: 2.02 GF Score: 81/100

Q1 2024 Morgan Stanley Earnings Call Transcript

Apr 16, 2024 / 01:30 PM GMT

Release Date Price: $89.14 (+2.47%)

Transcript 8-K

Key Points

Positve

Morgan Stanley reported strong revenue of $15 billion, with a 71% efficiency ratio.
Earnings per share were $2.02, with a 20% return on tangible equity.
Wealth Management client base showed greater activity, resulting in higher adjusted margins of 27% and net new assets grew by $95 billion.
Investment Management generated positive long-term flows, with total client assets growing to $7 trillion.
Institutional Securities generated solid results, with revenues of $7 billion up 3% versus the prior year.

Negative

There remains a backdrop of economic and geopolitical uncertainty that could impact future results.
Advisory revenues declined due to a decrease in completed M&A transactions.
Fixed income revenues slightly declined compared to the previous year's strong results.
Wealth Management's net interest income remained flat sequentially, indicating potential stagnation.
The international wealth management business is small, which may limit growth opportunities in that segment.

Refinitiv StreetEvents Event Transcript
P R E L I M I N A R Y V E R S I O N

MS.N - Morgan Stanley
Q1 2024 Morgan Stanley Earnings Call
Apr 16, 2024 / 01:30PM GMT

=====================
Conference Call Participants
=====================
* >>Edward Pick - CEO
* >>Sharon Yeshaya - CFO
* >>Glenn Schorr - Evercore ISI Institutional Equities, Research Division
* >>Ebrahim Poonawala - BofA Securities, Research Division
* >>Steven Chubak - Wolfe Research, LLC
* >>Brennan Hawken - UBS Investment Bank, Research Division
* >>Michael Mayo - Wells Fargo Securities, LLC, Research Division
* >>Daniel Fannon - Jefferies LLC, Research Division
* >>Devin Ryan - JMP Securities LLC, Research Division
* >>Gerard Cassidy - RBC Capital Markets, Research Division

=====================
Presentation
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Operator [1]
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