Every material Form 8-K Federated Hermes filed with the SEC in 2024, 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 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.
Briefs are written by AI from the filing text (each brief's own page names the model) and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the model's reading of the filing for shareholders, not a price forecast. Not investment advice.
Only material 8-Ks get a brief: results, deals, executive changes, restructuring, impairments, delisting notices, restatements, cybersecurity incidents and other disclosed events. Routine filings (vote results, exhibits only) are skipped. Every Federated Hermes filing is on SEC EDGAR ↗. 8-K briefs of other companies →