Every material Form 8-K Invesco has filed with the SEC since April 23, 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.
Invesco reported third-quarter 2026 results: operating revenues rose 2.6% from the second quarter to $1,873.2 million, but net income attributable to Invesco Ltd. fell 14.7% to $294.5 million, lowering diluted EPS to $0.65 from $0.76. Adjusted diluted EPS edged up to $0.72 and the company repurchased $1.5 billion of preferred stock held by MassMutual, funded by a new bank term loan.
Operating revenues of $1,873.2 million, up 2.6% from $1,825.6 million in Q2 2026 and up 14.2% from Q3 2025.
Net income attributable to Invesco Ltd. of $294.5 million, down 14.7% from $345.3 million in Q2 2026; diluted EPS $0.65 versus $0.76.
Adjusted diluted EPS of $0.72, up from $0.71 in Q2 2026; adjusted operating margin 40.7%.
Repurchased $1.5 billion of Series A Preferred Stock held by MassMutual on October 26, 2026, funded by a five-year floating-rate bank term loan; $1 billion remains outstanding.
Invesco Ltd. borrowed the full $1.5 billion of an unsecured five-year term loan on October 26, 2026, and used it to repurchase $1.5 billion of its 5.9% preference shares held by MassMutual, a significant shareholder owning about 18.5% of common shares. The repurchase was made at a 12.5% premium to the $1,000 liquidation preference, and MassMutual will keep $1 billion of preferred stock. The loan adds debt that carries financial covenants, so it changes the company's debt load and its obligations ahead of common shareholders.
$1.5 billion unsecured term loan dated October 26, 2026, maturing October 26, 2031, borrowed in full at closing and guaranteed by Invesco Ltd.
Proceeds funded repurchase of $1.5 billion of 5.9% Series A Preference Shares from MassMutual at a 12.5% premium to the $1,000 liquidation preference per share.
Loan interest is Term SOFR or a base rate plus a margin; based on current credit ratings, the SOFR margin would be 1.350%.
Quarterly covenants require a Debt/EBITDA ratio of no more than 3.25:1.00 and interest coverage of at least 4.00:1.00.
Invesco Ltd. said Andrew Lo, Senior Managing Director and Head of Asia Pacific, will retire on March 31, 2027, after 32 years with the firm. Marty Franc, currently CEO for Australia, Greater China and Southeast Asia, will succeed him as head of Asia Pacific during the first quarter of 2027, after a transition period. The filing does not report any financial figures, so the change affects shareholders mainly through leadership of a region the company calls a significant contributor to its global business.
Andrew Lo retires March 31, 2027, after 32 years with Invesco, and steps down as head of Asia Pacific on a date in Q1 2027 to be determined.
Marty Franc, who will be based in Hong Kong, has more than 30 years of asset management experience, including 13 years at Invesco.
Lo will become Chairman Emeritus, Asia Pacific, serving on the China and India joint venture boards and providing strategic counsel; the agreement with Lo has not yet been executed.
CEO Andrew Schlossberg said Franc is the right leader to build on the Asia Pacific foundation.
Invesco reported second-quarter 2026 operating revenues of $1.83 billion, up 4.6% from the first quarter and 20.5% from a year earlier, and diluted EPS of $0.76 compared with $0.51 in the first quarter and a loss of $0.03 a year earlier. Net long-term inflows were $45.1 billion, and the company repurchased $50 million of common shares and declared a $0.215 per share common dividend.
Operating revenues were $1,825.6 million, up 4.6% from $1,744.5 million in Q1 2026 and up 20.5% from $1,515.5 million in Q2 2025.
Net long-term inflows were $45.1 billion in Q2 2026, compared with $21.8 billion in Q1 2026.
Adjusted diluted EPS was $0.71, up from $0.57 in Q1 2026; adjusted operating margin was 37.5%, up from 34.5%.
Common dividend of $0.215 per share is payable September 2, 2026, to holders of record on August 14, 2026.
Invesco reported first-quarter 2026 results with operating revenues of $1,744.5 million, up 14.1% from a year earlier, and diluted EPS of $0.51 versus $0.38 in Q1 2025. Adjusted diluted EPS was $0.57, up 29.5% year over year but down from $0.62 in the fourth quarter of 2025, and the company raised its quarterly common dividend to $0.215 per share.
Diluted EPS was $0.51 for Q1 2026, compared with $0.38 in Q1 2025 and a loss of $2.61 in Q4 2025 that included a $1,794.9 million impairment.
Adjusted diluted EPS was $0.57, compared with $0.44 in Q1 2025 and $0.62 in Q4 2025.
Net long-term inflows were $21.8 billion, and ending AUM was $2,159.5 billion.
The company repurchased 1.6 million shares for $40 million in Q1 and declared a $0.215 per share dividend payable June 2, 2026.
Invesco reported fourth-quarter 2025 results on January 27, 2026. Operating revenues rose 6.2% from a year earlier to $1,692.0 million, but a $1.8 billion non-cash intangible asset impairment produced a GAAP loss of $2.61 per diluted share, compared with diluted EPS of $0.46 a year earlier. Excluding the impairment, adjusted diluted EPS was $0.62, up from $0.52, and the company declared a $0.21 per share common dividend.
GAAP diluted EPS was a loss of $2.61 versus $0.46 in Q4 2024, driven by a $1.8 billion non-cash intangible asset impairment.
Adjusted diluted EPS was $0.62, up from $0.52 in Q4 2024; net revenues rose 8.8% to $1,258.9 million.
Net long-term inflows were $19.1 billion in the quarter, and ending assets under management reached $2.2 trillion.
Common dividend of $0.21 per share is payable March 3, 2026, to holders of record on February 13, 2026.
Invesco agreed on December 8, 2025 to repurchase 500,000 of its 5.9% Series A Preference Shares from MassMutual at $1,180 per share, an 18% premium to the $1,000 liquidation preference, which the filing describes as a $500 million repurchase. The deal is expected to close around mid-December 2025, and MassMutual will keep $2.5 billion of preferred shares and its roughly 18.3% stake in Invesco's common shares.
Repurchase of 500,000 preferred shares at $1,180 per share, described as $500 million in total
Price is an 18% premium to the $1,000 per share liquidation preference
Closing expected around the middle of December 2025, five business days after the agreement date
MassMutual will receive a prorated fourth-quarter 2025 dividend, payable March 2, 2026
Invesco reported third-quarter 2025 results, with GAAP diluted EPS of $0.66 versus a loss of $0.03 in the second quarter and $0.12 a year earlier. Operating revenues rose 8.2% to $1.6 billion, and operating income climbed 26.5% from the prior quarter, driven mainly by higher average assets under management. Results include a $35.9 million non-cash impairment tied to the planned intelliflo divestiture, which reduced EPS by $0.08.
Operating revenues of $1,640.4 million, up 8.2% from Q2-25 and 8.2% from Q3-24
Net long-term inflows of $28.9 billion; ending AUM of $2.1 trillion, up 6.2% from the prior quarter
Adjusted diluted EPS of $0.61, versus $0.36 in Q2-25 and $0.44 in Q3-24
Quarterly common dividend of $0.21 per share, payable December 2, 2025 to holders of record on November 14, 2025
Invesco reported second-quarter 2025 results, showing a GAAP net loss attributable to the company of $12.5 million, or $(0.03) per diluted share, compared with net income of $171.1 million in the first quarter and $132.2 million a year earlier. The company said the loss reflects a $159.3 million cost tied to repurchasing $1.0 billion of its Series A Preferred Stock, while adjusted diluted EPS was $0.36 and operating revenues were $1,515.5 million, up 2.2% from a year earlier but down 0.9% from the first quarter.
Net long-term inflows were $15.6 billion in Q2 2025, and ending AUM reached a record $2,001.4 billion.
GAAP diluted EPS was $(0.03) versus $0.38 in Q1 2025 and $0.29 in Q2 2024; adjusted diluted EPS was $0.36 versus $0.44 in Q1 2025.
The $159.3 million preferred repurchase cost followed the May 16, 2025 buyback of $1.0 billion of Series A Preferred Stock held by MassMutual, funded by new bank term loans.
A quarterly common dividend of $0.21 per share was declared, payable September 2, 2025, to holders of record on August 14, 2025.
Invesco and its subsidiary Invesco Finance, Inc. entered into a $1.0 billion unsecured term loan agreement with a syndicate of lenders led by Bank of America, N.A. as administrative agent, and the loans were fully drawn on May 16, 2025 to repurchase $1.0 billion of the company's 5.9% Series A preferred stock from MassMutual, which included a 15% premium. The company also entered into a five-year $2.5 billion unsecured revolving credit agreement that replaces its $2.0 billion facility, adding borrowing capacity while the new debt carries leverage and interest coverage covenants.
Two term loans totaling $1.0 billion: $500 million due May 16, 2028 and $500 million due May 16, 2030
Proceeds funded the repurchase of $1.0 billion of 5.9% preferred stock held by MassMutual; a 15% premium was paid on the $1,000 per share liquidation preference, and the repurchase was completed May 16, 2025
$2.5 billion five-year revolving credit agreement due May 16, 2030, amending and restating the $2.0 billion facility that was scheduled to expire April 26, 2028
Financial covenants require a Debt/EBITDA ratio of no more than 3.25:1.00 and interest coverage of at least 4.00:1.00
Invesco agreed on April 21, 2025 to buy back $1 billion of its 5.9% Series A preferred stock from MassMutual, a significant shareholder owning about 18.2% of common shares, at a 15% premium to liquidation preference. The all-cash deal, funded through debt financing, is expected to close in May 2025 and is expected to be earnings accretive beginning in the second half of 2025, while the company also raised its quarterly common dividend.
Repurchase of $1 billion of Series A preferred stock at a 15% premium to liquidation preference, expected to close in May 2025
Funded through debt financing; MassMutual will continue to hold $3 billion of preferred stock after the repurchase
Invesco expects the repurchase to be earnings accretive beginning in the second half of 2025
Quarterly common dividend increased from $0.205 to $0.210 per share; Barings and MassMutual also announced a U.S. wealth partnership with MassMutual's initial $650 million support
Invesco reported first-quarter 2025 diluted EPS of $0.38, up 22.6% from $0.31 a year earlier but down 17.4% from $0.46 in the fourth quarter of 2024. Operating revenues rose 3.7% year over year to $1,529.2 million, while the company also announced a $1 billion repurchase of its Series A Preferred Stock held by MassMutual, expected in May, and a higher quarterly common dividend of $0.21 per share.
Q1 2025 diluted EPS $0.38 vs. $0.31 in Q1 2024 and $0.46 in Q4 2024; adjusted diluted EPS $0.44
Operating revenues $1,529.2 million, up 3.7% year over year, down 4.0% from Q4 2024
Net long-term inflows of $17.6 billion; ending AUM $1,844.8 billion
$1 billion preferred stock repurchase from MassMutual expected in May; quarterly common dividend raised to $0.21 per share, payable June 3, 2025
Invesco reported fourth-quarter 2024 diluted EPS of $0.46, up from $0.12 in the third quarter and a loss of $1.64 a year earlier, with adjusted diluted EPS of $0.52. Operating revenues rose 5.1% from the third quarter and 12.7% from a year earlier to $1.6 billion, and the company declared a $0.205 quarterly common dividend payable March 4, 2025.
Diluted EPS $0.46 versus $0.12 in Q3 2024 and a loss of $1.64 in Q4 2023
Operating revenues $1.6 billion, up 5.1% from Q3 2024 and 12.7% from Q4 2023
Net long-term inflows of $25.6 billion in Q4 2024 and $65.1 billion for the full year
Quarterly common dividend of $0.205 per share, payable March 4, 2025 to holders of record on February 14, 2025
Invesco reported third-quarter 2024 results on October 22, 2024. Operating revenues rose 2.2% from the prior quarter to $1.5 billion, but diluted EPS fell to $0.12 from $0.29 because of a one-time non-cash $147.6 million compensation expense tied to changes in retirement vesting criteria. Excluding that charge and other non-GAAP items, adjusted diluted EPS was $0.44, up from $0.43 in the second quarter.
Operating revenues were $1.5 billion, up 2.2% from $1.5 billion... (Q2-24: $1,483.3 million)
Diluted EPS was $0.12 versus $0.29 in Q2-24 and Q3-23; adjusted diluted EPS was $0.44 versus $0.43 in Q2-24
One-time non-cash acceleration of $147.6 million in compensation expense cut the GAAP operating margin to 6.6%
Net long-term inflows were $16.5 billion; the company repurchased 1.5 million shares for $25 million and declared a $0.205 per share common dividend payable December 3, 2024
Invesco reported second-quarter 2024 U.S. GAAP operating revenues of $1,483.3 million, up 0.5% from the first quarter, and diluted EPS of $0.29, down from $0.31. Results include a $50.0 million contingent liability tied to two regulatory matters, including an SEC investigation into electronic business communications recordkeeping. Adjusted diluted EPS, which excludes that charge among other items, rose to $0.43 from $0.33, and the company said it plans to begin share buybacks in the third quarter.
GAAP operating income fell 3.0% to $206.8 million, and net income attributable to Invesco Ltd. fell 6.6% to $132.2 million from $141.5 million in the first quarter.
Adjusted diluted EPS was $0.43 versus $0.33 in the first quarter and $0.31 in the second quarter of 2023.
Net long-term inflows were $16.7 billion, and ending AUM reached a record $1.7 trillion, up 12% year over year.
Common dividend of $0.205 per share is payable September 4, 2024, to holders of record on August 16, 2024.
At its Annual General Meeting on May 23, 2024, Invesco shareholders elected all eleven board nominees and approved an amendment and restatement of the 2016 Global Equity Incentive Plan to increase the shares available under it. Shareholders did not approve a proposal to vote on excessive golden parachutes. The plan will have 21.2 million shares available for issuance as of July 1, 2024.
All eleven director nominees were elected; Sarah E. Beshar received 337,294,271 votes for and 7,271,582 against.
Shareholders approved the 2016 plan amendment with 278,814,998 votes for and 65,658,308 against, leaving 21.2 million shares available from July 1, 2024.
Shareholders approved, on an advisory basis, executive compensation with 291,291,915 votes for and 53,106,954 against.
The golden parachute proposal failed, with 118,040,462 votes for and 226,279,393 against.
Invesco reported first-quarter 2024 operating revenues of $1,475.3 million, up 4.0% from a year earlier, but diluted EPS of $0.31 was down from $0.32 and adjusted diluted EPS fell 13.2% to $0.33. The company also increased its quarterly common dividend to $0.205 per share and reported $6.3 billion of net long-term inflows.
Operating revenues were $1,475.3 million, up 4.0% from Q1 2023 and 4.4% from Q4 2023.
Diluted EPS was $0.31 versus $0.32 in Q1 2023; adjusted diluted EPS was $0.33 versus $0.38.
Net long-term inflows were $6.3 billion; ending AUM was $1,662.7 billion, up 4.9% from the prior quarter.
Redeemed $600 million of senior notes; net debt was $361.8 million at March 31, 2024.
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