Silvercrest Asset Management's Q1 revenue flat, earnings fall on higher costs

Silvercrest Asset Management Group Inc. Class A

Silvercrest Asset Management Group Inc. Class A

SAMG

0.00


Overview

  • U.S. investment adviser reported Q1 revenue flat yr/yr, adjusted EPS declined

  • Company attributed lower earnings to higher compensation and expansion costs

  • Total AUM grew 1.1% yr/yr but fell 3.5% sequentially on net institutional outflows


Outlook

  • Company expects compensation ratio to remain elevated as investments mature and contribute to revenue growth

  • Silvercrest sees robust new business pipeline in Global and International Equity strategies

  • Firm expects international expansion to support positive flows in 2026 and beyond


Result Drivers

  • INSTITUTIONAL OUTFLOWS - Co said decrease in discretionary AUM was primarily due to net institutional outflows

  • HIGHER COMPENSATION COSTS - Co cited increased compensation and benefits from merit-based raises, new hires, and higher bonus accruals as main drivers of expense growth

  • STRATEGIC INVESTMENTS - Co said ongoing investments in talent, international expansion, and business development raised costs and kept compensation ratio elevated


Company press release: ID:nGNX6jTJgy


Key Details

Metric

Beat/Miss

Actual

Consensus Estimate

Q1 Revenue

Miss

$31.41 mln

$31.85 mln (2 Analysts)

Q1 Adjusted EPS

Miss

$0.12

$0.19 (2 Analysts)

Q1 Adjusted Net Income

Miss

$1.48 mln

$2.16 mln (2 Analysts)

Q1 Net Income

$533,000

Q1 Adjusted EBITDA

Miss

$3.71 mln

$4 mln (1 Analyst)

Q1 Adjusted EBITDA Margin

11.80%


Analyst Coverage

  • The current average analyst rating on the shares is "strong buy" and the breakdown of recommendations is 2 "strong buy" or "buy", no "hold" and no "sell" or "strong sell"

  • The average consensus recommendation for the investment management & fund operators peer group is "hold."

  • Wall Street's median 12-month price target for Silvercrest Asset Management Group Inc is $18.50, about 38.8% above its May 8 closing price of $13.33

  • The stock recently traded at 15 times the next 12-month earnings vs. a P/E of 12 three months ago


For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.


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