AI English summary of an SEC filing — figures as filed
T. Rowe Price TROWT. Rowe Price said assets under management stood at $1,569.1 billion at the end of Q2 2024, up $26.9 billion from March 31. Market appreciation and income, net of distributions not reinvested, added $30.6 billion, and net cash outflows subtracted $3.7 billion.
Key points
AI summaryT. Rowe Price said assets under management stood at $1,569.1 billion at the end of Q2 2024, up $26.9 billion from March 31. Market appreciation and income, net of distributions not reinvested, added $30.6 billion, and net cash outflows subtracted $3.7 billion.
T. Rowe Price said net revenues for Q2 2024 were $1,733.3 million, up 7.6% from $1,610.2 million a year earlier. The company cited a 10.8% increase in investment advisory fee revenue as the main factor and said average assets under management rose 13.0%.
The company said its U.S. GAAP operating margin for Q2 was 32.6%, compared with 33.1% a year earlier, and diluted earnings per share were $2.11, compared with $2.06 a year earlier. It said non-GAAP diluted earnings per share were $2.26, compared with $2.02 a year earlier.
The company said operating cash flow attributable to T. Rowe Price Group for the first half of 2024 was $1,470.4 million, up $209.4 million from $1,261.0 million a year earlier. It also said it used $195.5 million of financing cash flow to repurchase 1.7 million shares over the same period.
Key figures
Quarter ended June 30, 2024
- Revenue
- $1.7B
- Operating income
- $565M
- Net income
- $483M
- EPS
- $2.11
From the XBRL financial data filed with the SEC · not processed by AI.
Summary
AI-writtenAnalysis scope · Management's discussion (MD&A)We analyzed excerpts of the Management's Discussion and Analysis (MD&A) section (with omissions). Other sections of the report, such as the notes to the financial statements and risk factors, were not reviewed.
Assets Under Management Q2 $1,569.1 billion
T. Rowe Price said assets under management stood at $1,569.1 billion at the end of Q2 2024, up $26.9 billion from March 31. Market appreciation and income, net of distributions not reinvested, added $30.6 billion, and net cash outflows subtracted $3.7 billion.
Source · Based on the MD&A text of the filing
Net Revenues Q2 $1,733.3 million
T. Rowe Price said net revenues for Q2 2024 were $1,733.3 million, up 7.6% from $1,610.2 million a year earlier. The company cited a 10.8% increase in investment advisory fee revenue as the main factor and said average assets under management rose 13.0%.
Source · Based on the MD&A text of the filing
Operating Margin and Diluted EPS, Q2
The company said its U.S. GAAP operating margin for Q2 was 32.6%, compared with 33.1% a year earlier, and diluted earnings per share were $2.11, compared with $2.06 a year earlier. It said non-GAAP diluted earnings per share were $2.26, compared with $2.02 a year earlier.
Source · Based on the MD&A text of the filing
First-Half Operating Cash Flow and Share Repurchases
The company said operating cash flow attributable to T. Rowe Price Group for the first half of 2024 was $1,470.4 million, up $209.4 million from $1,261.0 million a year earlier. It also said it used $195.5 million of financing cash flow to repurchase 1.7 million shares over the same period.
Source · Based on the MD&A text of the filing
AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.
Original filing
The filing as submitted to SEC EDGAR. You can check the figures and statements of this summary against it.
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