Artisan Partners Q3 adjusted EPS beats analyst expectations; revenue up as fees increase
APAM•Artisan Partners reported third-quarter adjusted EPS of $1.03, beating the $0.96 analyst consensus, while revenue rose year over year to $312.5 million. The company declared a quarterly dividend of $0.88 per share.
1. Quarterly results
Artisan Partners reported third-quarter adjusted EPS of $1.03, above the $0.96 consensus estimate from four analysts. Revenue was $312.5 million, up year over year.
2. Flows and fees
The company had $10.6 billion in net outflows, driven by public-equity redemptions, including the US Value wind-down and client rebalancing. Credit and alternative strategies generated about $1.1 billion in net inflows, including $747 million in Global Unconstrained. Fees from Artisan Funds and Artisan Global Funds rose to $207.0 million from $192.5 million, partly offset by lower separate-account fees.
3. Dividend and plans
Artisan Partners declared a quarterly dividend of $0.88 per share. It plans to launch its first ETF share classes in the fourth quarter and is developing an interval fund for wealth clients.
