Virtus Investment Partners, Inc. - Q1 2026 Earnings Release

Virtus Investment Partners, Inc. reported financial results for the first quarter ended March 31, 2026. The company announced diluted Earnings Per Share of $1.05 and adjusted diluted Earnings Per Share of $5.38. Total sales were $5.8 billion, with net flows of ($8.4) billion and Assets Under Management (AUM) of $149.0 billion. GAAP revenues decreased by 8% to $199.5 million, and operating income fell by 58% to $15.4 million. Non-GAAP revenues, as adjusted, decreased by 8% to $182.3 million, while operating income, as adjusted, decreased by 20% to $43.8 million. The company's AUM decreased by 11% to $149.0 billion compared to the prior year, primarily due to market performance and net outflows in certain segments, partially offset by positive flows in ETFs and global funds, and the acquisition of Keystone National Group. The company also reported a decline in net income attributable to Virtus Investment Partners, Inc. of 75% to $7.1 million. The effective tax rate increased to 54% from 28% in the prior quarter.