Federated Hermes Q1 EPS $0.61 vs $0.75 YoY; net income down 25%

FEDERATED HERMES, INC.

2022-Q1 EPS reported $0.61 revenue$324,764,000

EPS of $0.61 diluted, net income $55.9M; Q1 2021 was $0.75 and $74.5M respectively.
Total managed assets $631.1B at March 31, 2022, down 6% from Dec 2021 but up 1% YoY.
Revenue down 5% YoY, operating expenses down 1%; nonoperating income down $13.6M due to lower market value of investments.
Quarterly dividend $0.27/share declared, payable May 13, 2022 to shareholders of record May 6, 2022.
Bought back 3,039,917 shares for $102.5M in Q1; net negative pre-tax fee waiver impact $18.3M.

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