T. Rowe Price Q1 2024: EPS $2.49, AUM $1.54T, net outflows $8B, dividend raised for 38th year

PRICE T ROWE GROUP INC

2024-Q1 EPS reported $2.49 revenue$1,750,200,000

Diluted EPS $2.49 GAAP, adjusted $2.38; revenue $1.75B (+13.8% YoY).
Net client outflows $8.0B, about half of Q1 2023 outflows; AUM $1.54T (+$97.7B QoQ).
Operating income $586.6M GAAP, adjusted $692.4M; returned $365M to shareholders.
Quarterly dividend increased for 38th consecutive year; effective fee rate 42.1 bps.
CEO expects substantial improvement in outflows in 2024.

item 2.02 item 7.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

PRICE T ROWE GROUP INC reported the first quarter of 2024 results: revenue $1.8 billion, net income $573.8 million, EPS $2.49.

Period: the first quarter of 2024
Revenue: $1.8 billion
Net income: $573.8 million
EPS: $2.49
Result: reported results

Exact text from the filing

42.2 (0.1) (1) The Capital allocation-based income represents the change in accrued carried interest. The percentage change is not meaningful (n/m). Net revenues in Q1 2024 were $1.8 billion, an increase of 13.8% from Q1 2023 and an increase of 6.6% from Q4 2023. The Q1 2024 increase over Q1 2023 was primarily driven by increases in investment advisory fees on higher

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Source: SEC EDGAR

accession 0001113169-24-000011

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