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AI brief of an SEC Form 8-K · Federated Hermes (FHI)

Federated Hermes Q2 EPS falls to $0.20 on $66.3 million impairment charge

Negative Impact 4 of 5 earnings Written later

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.

Key points

  • 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.

The filing

CompanyFederated Hermes (FHI)
Form8-K, current report
Filed with the SECJul 25, 2024, 5:05 PM ET
Accession number0001056288-24-000016

Items reported: 2.02 Results of Operations

Read the filing on SEC.gov ↗

Written by AI on Nov 8, 2026, 1:00 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on July 25, 2024.

Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.