T. Rowe Price Group Earnings Call Transcripts
Fiscal Year 2026
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The meeting covered director elections, executive compensation, and auditor ratification, all of which passed. 2025 closed with $1.8 trillion in AUM and $56.9 billion in net outflows. The ETF franchise surpassed $25 billion in AUM and aims to expand market share.
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Q1 2026 saw adjusted EPS rise 13% year-over-year, with AUM at $1.71 trillion and strong growth in ETFs, SMAs, and alternatives. Despite equity outflows and market volatility, fixed income and target date funds performed well, and capital return to shareholders accelerated.
Fiscal Year 2025
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AUM rose over 10% to $1.78T in 2025 despite $56.9B in net outflows, driven by strong markets and growth in ETFs, fixed income, and alternatives. Adjusted EPS grew 4.2% to $9.72, with continued investment in strategic partnerships and product innovation.
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AUM hit a record $1.77T, with strong long-term fund performance and product innovation. Q3 adjusted EPS rose to $2.81, despite $7.9B in net outflows, as target date and ETF inflows offset equity redemptions. Strategic partnership with Goldman Sachs and digital asset expansion signal future growth.
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Q2 2025 saw stable EPS and flat revenue, but net outflows persisted, mainly from U.S. equities, while fixed income, alternatives, and ETFs posted positive flows. Expense management initiatives are underway, and the ETF franchise continues to expand, with new launches and growing AUM.
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The meeting covered director elections, executive compensation, auditor ratification, and a shareholder proposal on golden parachutes, which was not approved. 2024 ended with $1.61 trillion in assets under management and reduced net client outflows.
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Q1 2025 featured improved investment performance, strong inflows in target date and fixed income, and continued global expansion in retirement solutions. Adjusted EPS declined year-over-year but rose sequentially, while expense growth guidance was lowered amid market volatility.
Fiscal Year 2024
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AUM ended 2024 at $1.6T with net outflows halved year-over-year, driven by strong Target Date, ETF, and fixed income inflows. Adjusted EPS rose 23% to $9.33, while fee compression and market headwinds persisted. Strategic partnerships and product innovation support a positive 2025 outlook.
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Q3 2024 saw AUM rise to $1.63T despite $12.2B in net outflows, with adjusted EPS up 18% year-over-year. New ETF and retirement products, strong alternatives fundraising, and a growing pipeline offset a large VA termination expected in Q4.
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Q2 2024 saw improved investment performance, strong ETF and alternatives growth, and higher adjusted EPS, despite $3.7B in net outflows. Strategic initiatives and partnerships are expanding distribution, with positive flow trends and reduced redemption pressure year-over-year.