| Metric | Value ($ M) | Q1 FY25 |
|---|---|---|
| Revenue | 387.99 | 76.7% |
| Total Income | 387.99 | 76.7% |
| Expenditure | 228.80 | 80.6% |
| PBT | 147.86 | 83.9% |
| Net Profit | 112.14 | 80.9% |
| OPM | 41.03% | 1.28pp |
| NPM | 28.90% | 0.68pp |
| EPS | 1.34 | 38.1% |
Victory Capital Reports Record Q1 2026 Results
07 May 2026 · 7 May, 2:09 am
Summary
Victory Capital Holdings, Inc. reported record financial results for the quarter ended March 31, 2026. The company achieved record revenue, adjusted EBITDA, and earnings per share. Total client assets reached $313.1 billion. The integration of Pioneer Investments is substantially complete, with approximately $104 million of the expected $110 million in total net expense synergies recognized.
Key Highlights
- 1
Victory Capital reported record revenue, record Adjusted EBITDA, and record earnings per share for the first quarter of 2026.
- 2
Total client assets reached $313.1 billion as of March 31, 2026.
- 3
Long-term gross flows amounted to $18.9 billion during the quarter.
- 4
The GAAP operating margin was 41.0% for the first quarter of 2026.
- 5
Adjusted EBITDA margin stood at 52.6% for the quarter.
- 6
The Board authorized an increase in the regular quarterly cash dividend to $0.50 per share.
- 7
Adjusted net income with tax benefit per diluted share was $1.82.
Management Comments
David Brown
"We had an exceptional first quarter, reporting record revenue, record Adjusted EBITDA, and record earnings per share, while simultaneously achieving an all-time high in long-term quarterly gross sales,” said David Brown, Chairman and Chief Executive Officer. “Our net flows improved meaningfully during the quarter as we continue to execute and make investments into our distribution channels." "Our investment performance also improved during the quarter and remains excellent. As of March 31, 2026, 71%, 67%, 68%, and 81% of our AUM outperformed benchmarks over the respective 1-, 3-, 5-, and 10-year periods. In addition, 68% of our rated AUM in mutual funds and ETFs was rated four or five stars overall by Morningstar." “The integration of Pioneer Investments is substantially complete. At quarter end, we had recognized approximately $104 million of the expected $110 million in total net expense synergies, and we remain on track to achieve the full $110 million within 2026." "Two areas that helped fuel our improved sales results for the quarter are the VictoryShares ETF platform, which continues to generate strong net inflows across our intermediary channels, and our international distribution channel, which delivered net inflows again for the quarter. Additionally, multiple Investment Franchises had positive net flows for the quarter as we continue to build momentum in various investment strategies and products." "We continued to return capital to shareholders, repurchasing a quarterly record of 2 million shares of VCTR common stock during the quarter. Combined with dividends paid, this returned a total of $185 million to shareholders in the quarter. "Inorganic growth remains a strategic priority, and our pipeline of acquisition opportunities is extensive and we are very active. Our approach has always been, and will remain, disciplined. The strength of our business allows us to be selective, and we only pursue transactions that make our Company better. "As always, we continue to focus on serving our clients, which is our top priority.”
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