T. Rowe Price Group, Inc. (TROW) Q3 2024 Earnings Call Transcript Summary
T. Rowe Price Group, Inc. (TROW) Q3 2024 Earnings Call Transcript Summary
Adjusted net revenues for Q3 amounted to $1.8 billion, reflecting a 7% increase from the previous year, driven by higher investment advisory revenue from increased average AUM. Adjusted operating expenses were up 3.6% primarily due to higher compensation and servicing fees in line with higher AUM.The following is a summary of the T. Rowe Price Group, Inc. (TROW) Q3 2024 Earnings Call Transcript:
以下是普信集團（t. Rowe Price Group, Inc.）2024年第三季度業績會實錄摘要：
Financial Performance:
金融業績：
T. Rowe Price reported a Q3 2024 adjusted earnings per share of $2.57, a significant increase of over 18% from Q3 2023, driven by a rise in average AUM, higher adjusted operating income, and a lower effective tax rate.
The company noted $12.2 billion in net outflows for the quarter, which, while an improvement from Q3 2023, was higher than the first half of 2024.
Adjusted net revenues for Q3 amounted to $1.8 billion, reflecting a 7% increase from the previous year, driven by higher investment advisory revenue from increased average AUM. Adjusted operating expenses were up 3.6% primarily due to higher compensation and servicing fees in line with higher AUM.
普信集團報告，2024年第三季度調整後每股收益爲2.57美元，較2023年第三季度增長超過18％，受益於平均資產管理規模的增加、調整後營業收入的提高以及較低的有效稅率。
公司本季度淨外流達到122億美元，雖然較2023年第三季度有所改善，但仍高於2024年上半年。
第三季度調整後淨收入達18億美元，較去年同期增長7％，受益於來自增加的平均資產管理規模的投資諮詢收入增加。調整後營業費用上升3.6％，主要是由於較高的報酬和服務費，與較高的資產管理規模相一致。
Business Progress:
業務進展：
T. Rowe Price is expanding its ETF business and innovating in the retirement solutions space with the introduction of new products like personalized retirement manager and managed lifetime income, designed to offer unique asset management and guaranteed monthly income for retirees.
The firm continues to see strong growth and inflows into its target date franchise and is gaining traction in private and structured strategies, with important new capital commitments increasing by $3 billion this quarter, strengthening the firm's future growth prospects.
普信集團正在擴大其etf業務，並在養老解決方案領域進行創新，推出個性化養老經理和受託終身收入等新產品，旨在爲退休人員提供獨特的資產管理和保證月收入。
該公司繼續看到目標日期基金系列的強勁增長和資金流入，並在私人和結構化策略方面獲得了進展，本季度重要的新資本承諾增加了30億美元，加強了公司未來增長前景。
Opportunities:
機會：
The firm is capitalizing on opportunities in ETFs, private credit, and retirement solutions, backed by strategic product launches and enhancements in these areas.
Noted strong interest and upcoming strategies to expand globally, particularly in the APAC region, and to increase penetration in alternative investments and multi-asset strategies in the EMEA region.
該公司正在利用etf、私人信貸和養老解決方案的機會，通過這些領域的戰略產品推出和增強獲得支持。
注意到強勁的興趣和即將到來的全球擴張戰略，特別是在亞太地區，並增加在歐洲、中東、非洲地區的替代投資和多資產策略的滲透。
Risks:
風險：
Anticipates higher net outflows in Q4 2024 due to seasonal trends and specific large sub-advised variable annuity terminations, which could impact short-term asset management results. Continued challenges in the variable annuity space with expected declines in this market segment.
預計2024年第四季度淨流出將增加，這是由於季節性趨勢和特定大型受託變量年金終止，這可能會影響短期資產管理結果。在變量年金領域持續面臨挑戰，預計這一市場細分的下降。
Tips: For more comprehensive details, please refer to the IR website. The article is only for investors' reference without any guidance or recommendation suggestions.
提示：如需更全面的詳情，請參閱投資人關係網站。本文僅供投資者參考，不作任何指引或建議。
譯文內容由第三人軟體翻譯。
