Virtus Investment Partners Q2 EPS $2.43 GAAP, down 41%; revenue up 5% to $224.4 million
Virtus Investment Partners reported results for the quarter ended June 30, 2024, in a press release furnished as Exhibit 99.1 to its July 26, 2024 Form 8-K. Revenue rose 5% year over year to $224.4 million, but GAAP diluted earnings per share fell 41% to $2.43, with net investment losses and other items weighing on results, while adjusted diluted EPS rose 20% to $6.53. Assets under management fell 3% to $173.6 billion, with net outflows of $2.6 billion, which matters to shareholders because it reflects the asset base that generates the company's fees.
Key points
- Revenues of $224.4 million, up 5% from $213.5 million a year earlier and up 1% from $222.0 million in the first quarter of 2024.
- GAAP diluted EPS of $2.43, down from $4.10 a year earlier; adjusted diluted EPS of $6.53, up from $5.43.
- Net outflows of $2.6 billion and total sales of $6.1 billion; ending assets under management of $173.6 billion, down 3% from $179.3 billion at March 31, 2024.
- The company repurchased 55,099 shares for $12.5 million and repaid $5.7 million of debt during the quarter.
The filing
Written by AI (Anthropic Claude, claude-haiku-5-5) on Nov 8, 2026, 6:59 AM ET, from the text of the filing and its press-release exhibits 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 26, 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.