The following is a summary of the Victory Capital Holdings, Inc. (VCTR) Q3 2024 Earnings Call Transcript:

Financial Performance:

• Victory Capital Holdings reported robust Q3 2024 earnings, achieving record levels in earnings per share, adjusted EBITDA, and a margin expansion to 53.7%.

• The company's quarterly revenue increased by 3% to $225.6 million.

• GAAP operating income rose 9% from the previous quarter, reaching a record $120.4 million.

• Earnings per share reached new highs on both GAAP and adjusted bases, hitting $1.24 and $1.35 per diluted share, respectively.

Business Progress:

• Victory Capital signed a definitive agreement with Amundi, anticipated to close in Q1 2025, which will add the Amundi US Business as their 12th investment franchise.

• They successfully held a stockholder meeting approving the transaction with strong shareholder support.

• The company plans to leverage nearly $300 billion in assets under management post-closing for strategic acquisitions.

• Victory Capital highlighted its continuous transformation since 2013, benefiting from enhanced scale and diversification through strategic transactions.

Opportunities:

• The upcoming integration of Amundi's US Business and exclusive distribution agreements will broaden market access both domestically and internationally, enhancing Victory Capital's asset growth and distribution capabilities.

Risks:

• The definitive completion of the transaction with Amundi is still subject to closing conditions and regulatory approvals, presenting a potential risk if these are not met.

More details: Victory Capital IR

Tips: For more comprehensive details, please refer to the IR website. The article is only for investors' reference without any guidance or recommendation suggestions.