Federated Hermes Q1 2026 Earnings Release - Record Assets Under Management

Federated Hermes reported first quarter 2026 earnings with record assets under management reaching $907.1 billion, up 8% year-over-year. The company achieved earnings per diluted share of $1.27 on net income of $96.4 million, compared to $1.25 per share on $101.1 million in Q1 2025. Key highlights include record money market assets of $684.7 billion and record equity assets of $100.8 billion, representing 25% year-over-year growth. Revenue increased 13% to $479.0 million primarily due to higher average money market and equity assets, though this was partially offset by a decrease in performance fees and carried interest. The board declared an increased quarterly dividend of $0.38 per share, up 11.8% from the previous quarter. During Q1 2026, the company repurchased 1.2 million shares of its class B common stock for $66.0 million. The company will host an earnings conference call on May 1, 2026.