Every material Form 8-K Federated Hermes has filed with the SEC since October 26, 2023, read and summarized by AI: what happened, the key figures, whether it reads positive or negative for shareholders, and how big a deal it is (impact 1-5). Newest first; each brief links to its own page and to the filing on SEC.gov.
Federated Hermes said it is considering operational changes at Federated Hermes Limited, its London-based subsidiary, and has started a consultation process that proposes eliminating or transferring about 200 positions to the United States. The company expects pre-tax restructuring charges of about $15 million, split between $7 million in 2026 and $8 million in 2027, with an approximate $30 million annual pre-tax reduction in compensation and related expenses once completed by the end of 2027.
Proposed restructuring at Federated Hermes Limited would eliminate or transfer about 200 positions, subject to consultation
Expected pre-tax restructuring charges total about $15 million: $7 million in 2026 and $8 million in 2027
Expected annual pre-tax cost reduction of about $30 million, primarily compensation, with completion targeted by end of 2027
Federated Hermes reported third quarter 2026 earnings per diluted share of $1.50, up from $1.34 a year earlier, on revenue of $507.3 million, up 8%. Equity assets reached a record $110.5 billion, and the board declared a $0.38 per share dividend, but total managed assets fell 3% from June 30, 2026.
Q3 2026 net income was $111.9 million, compared with $104.1 million in Q3 2025.
Revenue rose $37.9 million, or 8%, year over year, helped by higher average equity assets and the Q2 2026 acquisition of FCP Fund Manager, L.P.
Total managed assets were $884.4 billion at Sept. 30, 2026, down $27.2 billion or 3% from June 30, 2026.
The board declared a $0.38 per share dividend, payable Nov. 13, 2026 to shareholders of record as of Nov. 6, 2026.
Federated Hermes reported second quarter 2026 diluted EPS of $1.38, up from $1.16 a year earlier, on net income of $104.3 million versus $91.0 million. Total revenue rose 18% to $502.8 million, while operating expenses rose 20% to $369.9 million, and total managed assets reached a record $911.6 billion at June 30, 2026. Shareholders also received a declared dividend of $0.38 per share, up from $0.34 a year earlier.
Q2 2026 diluted EPS was $1.38 versus $1.16 in Q2 2025; net income was $104.3 million versus $91.0 million.
Total revenue was $502.8 million, up 18% from $424.8 million; operating expenses rose 20% to $369.9 million.
Total managed assets were a record $911.6 billion at June 30, 2026, up 8% from a year earlier, including $3.2 billion of alternative assets acquired through the FCP Fund Manager, L.P. transaction.
The board declared a $0.38 per share dividend payable Aug 14, 2026 to holders of record as of Aug 7, 2026; the company bought back $58.9 million of Class B common stock in Q2 2026.
Federated Hermes reported first quarter 2026 revenue of $479.0 million, up 13% from a year earlier, and diluted EPS of $1.27 versus $1.25. Net income fell 5% to $96.4 million, and the company said Q1 2025 included a $12.9 million VAT refund benefit. Record managed assets of $907.1 billion and a declared dividend of $0.38 per share were also reported.
Q1 2026 diluted EPS $1.27 vs. $1.25 in Q1 2025; net income $96.4 million vs. $101.1 million
Q1 2025 results included a $12.9 million decrease in other operating expense, or $0.15 per diluted share, from a U.K. VAT refund
Total managed assets reached a record $907.1 billion at March 31, 2026, up 8% year over year
Board declared a $0.38 per share dividend payable May 15, 2026 to holders of record May 8, 2026; company bought back 1,191,300 Class B shares for $66.0 million in Q1 2026
Federated Hermes reported fourth-quarter 2025 earnings per diluted share of $1.39, up from $1.04 a year earlier, as revenue rose 14% to $482.8 million. Total managed assets reached $902.6 billion at Dec. 31, 2025, and the board declared a $0.34 quarterly dividend. Higher money market and equity assets drove the revenue gain, and the company bought back $78.7 million of Class B stock in the quarter.
Q4 2025 net income was $107.0 million, compared with $84.7 million in Q4 2024.
Full-year 2025 EPS was $5.13, compared with $3.23 for 2024, which included a $66.3 million non-cash impairment.
Quarterly dividend of $0.34 per share is payable Feb. 13, 2026, to shareholders of record as of Feb. 6, 2026.
In Q4 2025 the company bought 1,566,901 Class B shares for $78.7 million; full-year 2025 repurchases totaled 6,192,433 shares for $263.4 million.
Federated Hermes said longtime executive John Fisher, 69, will step back from full-time duties and stop serving as an executive officer effective April 30, 2026. Paul Uhlman will succeed him as President and CEO of the Federated Advisory Companies, and Bryan Burke will succeed Uhlman as President of Federated Securities Corp.; Fisher will remain on the board until the next annual meeting, where he will not stand for re-election.
John Fisher, 69, steps back from full-time responsibilities effective April 30, 2026 and will serve as Chairman of the Federated Advisory Companies
Paul Uhlman, 59, with 35 years at the company, becomes President and CEO of the Federated Advisory Companies and remains a Vice President and executive officer
Bryan Burke, 53, with 23 years at the company, becomes President of Federated Securities Corp. and a Vice President and executive officer
Fisher will not stand for re-election to the board at the annual meeting expected April 30, 2026; Uhlman will be recommended for board nomination
Federated Hermes reported third quarter 2025 results, with diluted earnings per share of $1.34, up from $1.06 a year earlier, and net income of $104.1 million, up from $87.5 million. Total managed assets reached a record $871.2 billion at Sept. 30, 2025, and the board declared a $0.34 per share dividend.
Q3 2025 diluted EPS was $1.34 versus $1.06 in Q3 2024; net income was $104.1 million versus $87.5 million.
Total revenue rose 15% to $469.4 million from $408.5 million in Q3 2024, driven mainly by higher average money market and equity assets.
Total managed assets were a record $871.2 billion at Sept. 30, 2025, up 9% from $800.5 billion a year earlier.
The board declared a $0.34 per share dividend, payable Nov. 14, 2025 to shareholders of record as of Nov. 7, 2025.
Federated Hermes agreed on October 23, 2025 to acquire an 80% interest in FCP Fund Manager, L.P., a privately held U.S. real estate investment manager with $3.8 billion of assets as of June 30, 2025. The deal is expected to close in the first half of 2026, subject to third-party consents and U.S. antitrust clearance, and the company plans to fund the cash portion from its balance sheet and credit line. Its analyst presentation projects the deal to be accretive to earnings per share in 2026 and 2027.
Up to $331 million total price: $215.8 million cash and $23.2 million in Class B common stock paid at closing, plus up to $92 million in contingent payments over multiple years
FCP has $3.8 billion in assets under management as of June 30, 2025 and more than 75 employees, headquartered in Chevy Chase, Maryland
Expected closing in the first half of 2026; the analyst presentation projects accretion of about $0.04 per share for fiscal 2026 and about $0.13 per share for fiscal 2027
Federated Hermes will own 80% and FCP management 20%, with a put/call option on the remaining stake beginning after the fifth anniversary of closing
Federated Hermes reported second quarter 2025 earnings of $1.16 per diluted share, up from $0.20 a year earlier, on revenue of $424.8 million, up 6%. The prior-year quarter included a $66.3 million impairment charge, and compared with the first quarter of 2025, EPS fell 7% and revenue was flat. The board also declared a $0.34 per share dividend and approved a new buyback of up to 5 million shares.
Q2 2025 net income was $91.0 million, compared with $21.0 million in Q2 2024, which included a $66.3 million non-cash impairment.
Total managed assets were a record $845.7 billion at June 30, 2025, up 8% from a year earlier and up 1% from March 31, 2025.
Quarterly dividend of $0.34 per share is payable Aug 15, 2025 to holders of record as of Aug 8, 2025.
The board authorized an 18th share repurchase program of up to 5 million additional Class B shares with no expiration date.
Federated Hermes reported first quarter 2025 earnings of $1.25 per diluted share, up from $0.89 a year earlier, on net income of $101.1 million and revenue of $423.5 million, up 7%. Total managed assets reached a record $839.8 billion, and the board raised the quarterly dividend 9.7% to $0.34 per share, which shareholders of record as of May 8, 2025 will receive on May 15, 2025.
Q1 2025 diluted EPS of $1.25 vs. $0.89 in Q1 2024; net income of $101.1 million vs. $75.0 million
Q1 2025 results include a $12.9 million decrease in Other operating expense, or $0.15 per diluted share, from a U.K. value-added tax refund
Total managed assets were a record $839.8 billion at March 31, 2025, up 8% from a year earlier
Quarterly dividend raised to $0.34 per share from $0.31; payable May 15, 2025 to holders of record May 8, 2025
Federated Hermes reported fourth-quarter 2024 diluted EPS of $1.04, up from $0.96 a year earlier, and full-year 2024 EPS of $3.23, down from $3.40. Full-year results include a $66.3 million non-cash impairment of an intangible asset recorded in Q2 2024, which the company said reduced EPS by $0.73. Total managed assets reached a record $829.6 billion at Dec. 31, 2024.
Q4 2024 net income was $84.7 million, compared with $82.2 million in Q4 2023.
Full-year 2024 net income was $268.3 million, compared with $299.0 million in 2023, including the $66.3 million impairment charge.
Total managed assets were $829.6 billion at Dec. 31, 2024, up 10% from $757.6 billion a year earlier.
The board declared a $0.31 quarterly dividend payable Feb. 14, 2025; the company bought back 552,533 Class B shares for $22.1 million in Q4 2024.
Federated Hermes reported third quarter 2024 diluted EPS of $1.06, up from $0.86 a year earlier, on revenue of $408.5 million, up 1% from the prior-year quarter. Total managed assets reached a record $800.5 billion at Sept. 30, 2024, and the board declared a $0.31 per share dividend and authorized a new repurchase program of up to 5 million class B shares. Quarterly profit and revenue rose year over year, but nine-month EPS of $2.20 was down from $2.44.
Q3 2024 diluted EPS was $1.06 versus $0.86 in Q3 2023; net income was $87.5 million versus $75.0 million.
Q3 2024 revenue was $408.5 million, up 1% from $402.7 million in Q3 2023.
Total managed assets were a record $800.5 billion at Sept. 30, 2024, up 12% from a year earlier.
Board declared a $0.31 per share dividend payable Nov. 15, 2024 and authorized a new repurchase program of up to 5 million shares.
Federated Hermes reported second quarter 2024 earnings of $0.20 per diluted share, down from $0.81 a year earlier, on net income of $21.0 million versus $72.2 million. The results include a $66.3 million non-cash impairment of an indefinite-lived intangible asset, while total managed assets reached a record $782.7 billion, which supports revenue but did not offset the charge.
Q2 2024 revenue was $402.6 million, down 7% from $433.2 million in Q2 2023.
The $66.3 million non-cash impairment equaled $0.76 per diluted share and related to an intangible asset tied to the 2018 acquisition of Federated Hermes Limited.
The board declared a $0.31 per share dividend, payable August 15, 2024, to holders of record as of August 8, 2024.
During Q2 2024 the company bought back 1,559,200 class B shares for $47.5 million.
Federated Hermes reported first quarter 2024 earnings per diluted share of $0.89, up from $0.78 a year earlier, on net income of $75.0 million, up from $69.6 million. The board also declared a $1.31 dividend, made up of a $0.31 quarterly dividend, which rose 10.7%, and a $1.00 special dividend, payable May 15, 2024.
Q1 2024 revenue was $396.4 million, up 4% from Q1 2023, driven mainly by higher average money market assets.
Total managed assets were a record $778.7 billion at March 31, 2024, up 11% from a year earlier.
Equity assets were $80.2 billion, down 4% year over year; fixed-income assets were $96.3 billion, up 10%.
Shares purchased in Q1 2024 totaled 1,082,120 Class B shares for $37.0 million.
Federated Hermes reported fourth-quarter 2023 earnings per diluted share of $0.96, up from $0.63 a year earlier, on net income of $82.2 million. Full-year 2023 EPS was $3.40 versus $2.65 in 2022, and total managed assets reached a record $757.6 billion at Dec. 31, 2023. The board also declared a $0.28 quarterly dividend.
Q4 2023 revenue rose 5% to $391.5 million from Q4 2022, driven mainly by higher average money market assets.
Full-year 2023 net income was $299.0 million, or $3.40 EPS, compared with $239.5 million, or $2.65 EPS, in 2022.
During Q4 2023 the company bought 1,902,861 Class B shares for $61.0 million; 2023 repurchases totaled $178.0 million.
Quarterly dividend of $0.28 per share is payable Feb. 15, 2024 to shareholders of record as of Feb. 8, 2024.
Federated Hermes said named executive officer Gordon J. Ceresino will transition his day-to-day responsibilities starting January 12, 2024, and retire on May 9, 2024. His duties will be spread among several people, including CEO of Federated Hermes Limited Saker A. Nusseibeh and Paul A. Uhlman, both existing executive officers.
Day-to-day responsibilities transition begins January 12, 2024
Retirement effective May 9, 2024, after the transition period
Duties assumed by multiple individuals, including Saker A. Nusseibeh and Paul A. Uhlman
Federated Hermes reported third quarter 2023 diluted EPS of $0.86, up from $0.78 a year earlier, on net income of $75.0 million. Total managed assets reached a record $715.2 billion at Sept. 30, 2023, driven mainly by money market assets, and the board declared a $0.28 dividend and authorized a new repurchase of up to 5 million shares.
Q3 2023 diluted EPS of $0.86 vs. $0.78 in Q3 2022; net income of $75.0 million vs. $69.5 million
Total revenue of $402.7 million, up 6% from Q3 2022 but down 7% from Q2 2023's $433.2 million
Record total managed assets of $715.2 billion at Sept. 30, 2023; money market assets a record $525.1 billion
Dividend of $0.28 per share payable Nov. 15, 2023; new buyback authorization of up to 5 million shares
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