Federated Hermes Q2 EPS $0.56 vs $0.80 YoY; fee waivers hit $46.8M net

FEDERATED HERMES, INC.

2021-Q2 EPS reported $1.31 revenue$652,213,000

Diluted EPS $0.56, down 30% from $0.80; net income $55.9M vs $81.2M; includes $0.11/share UK tax expense.
Revenue fell 14% YoY; operating expenses down 13%; voluntary yield-related fee waivers net negative $46.8M pre-tax.
Total managed assets record $645.8B (+3% YoY); long-term assets record $216B; equity assets record $100.5B.
Dividend declared $0.27/share, payable Aug 13, record Aug 6; repurchased 993K shares for $31.8M.
Guides Q3 2021 waiver impact ~$38M pre-tax as short-term rates remain near zero.

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