Victory Capital Third-Quarter Revenue Rises 9.8% to $396.6 Million as Record Long-Term Net Inflows of $11.7 Billion Lift Total Client Assets to a Record $355.5
SAN ANTONIO, Texas — Victory Capital Holdings, Inc. (Nasdaq: VCTR) reported on November 4 its financial results for the quarter ended September 30, 2026. According to the company's official earnings release, revenue was $396.6 million, up 9.8% year over year and down 8.9% from the second quarter, a sequential decline the company attributed primarily to the crystallization of certain annual fees received in the second quarter and changes in asset class and client mix. GAAP income from operations was $137.7 million, for an operating margin of 34.7%, and GAAP net income was $91.3 million, or $1.11 per diluted share, down 5.4% year over year. Adjusted EBITDA was $212.1 million, a margin of 53.5%, and adjusted net income with tax benefit was $163.2 million, or $1.98 per diluted share.
Long-term gross flows reached a record $30.5 billion and long-term net flows a record $11.7 billion, an annualized organic growth rate of approximately 14%, taking year-to-date long-term net flows to $15.4 billion. At September 30, 2026, total client assets were a record $355.5 billion, comprising assets under management of $351.9 billion and other assets of $3.6 billion; AUM rose $9.4 billion from June 30, driven by the $11.7 billion of net inflows, partially offset by negative market action of $2.2 billion. Chairman and Chief Executive Officer David C. Brown said in the release that the U.S. intermediary, U.S. institutional and international channels each generated positive long-term net flows, across asset classes including fixed income, solutions and global equity.
The company returned $81 million to shareholders in the quarter, including approximately $39 million of share repurchases, and its board approved a quarterly cash dividend of $0.50 per share, payable December 23, 2026 to shareholders of record on December 10, 2026. Total debt outstanding at September 30 was approximately $975 million. Victory Capital said its definitive agreement, announced in August, to acquire First Eagle Investments is expected to close by the end of the first quarter of 2027, subject to customary closing conditions including regulatory approvals and client consents.
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Source: Victory Capital (company earnings
Published by GSM · USA (original Chinese edition)
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