Insights

Why Shares of Janus Henderson Group Are Falling Today

What happened
Shares of the asset manager Janus Henderson Group (NYSE: JHG) traded nearly 11% lower as of 2:52 p.m. ET today after the company reported disappointing earnings results for the first quarter of 2022.
So what
Janus Henderson’s diluted earnings per share (EPS) reported under generally accepted accounting principles (GAAP) was $0.47 on total revenue of roughly $620 million. On an adjusted basis, EPS came in at $0.75. EPS on an adjusted basis missed analyst estimates, while revenue also missed estimates.
Image source: Getty Images.

“In an ongoing challenging market environment which is impacting our outlook and flows, our first quarter results reflect solid long-term investment performance, robust financials, although down on the prior quarter, and continued capital return to shareholders,” interim CEO Roger Thompson said in a statement.
Janus Henderson saw assets under management (AUM) decrease from roughly $432 billion in the fourth quarter of 2021 to roughly $361 billion in the first quarter of 2022, due to market conditions, net outflows, and the sale of one of its subsidiaries in the quarter. Excluding the sale, AUM fell by 8% from the fourth quarter.
In the quarter, the company returned $107 million to shareholders through dividends and share repurchases. It increased its dividend by 3% to a quarterly dividend of $0.39.
Now what
While the company did raise capital returns with an increase in the dividend and an additional share repurchase authorization, Janus Henderson also missed earnings estimates pretty soundly and saw a decrease in AUM, so the market’s reaction is certainly understandable.
Bram Berkowitz has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. –

What happened

Shares of the asset manager Janus Henderson Group (NYSE: JHG) traded nearly 11% lower as of 2:52 p.m. ET today after the company reported disappointing earnings results for the first quarter of 2022.

So what

Janus Henderson’s diluted earnings per share (EPS) reported under generally accepted accounting principles (GAAP) was $0.47 on total revenue of roughly $620 million. On an adjusted basis, EPS came in at $0.75. EPS on an adjusted basis missed analyst estimates, while revenue also missed estimates.

Image source: Getty Images.

“In an ongoing challenging market environment which is impacting our outlook and flows, our first quarter results reflect solid long-term investment performance, robust financials, although down on the prior quarter, and continued capital return to shareholders,” interim CEO Roger Thompson said in a statement.

Janus Henderson saw assets under management (AUM) decrease from roughly $432 billion in the fourth quarter of 2021 to roughly $361 billion in the first quarter of 2022, due to market conditions, net outflows, and the sale of one of its subsidiaries in the quarter. Excluding the sale, AUM fell by 8% from the fourth quarter.

In the quarter, the company returned $107 million to shareholders through dividends and share repurchases. It increased its dividend by 3% to a quarterly dividend of $0.39.

Now what

While the company did raise capital returns with an increase in the dividend and an additional share repurchase authorization, Janus Henderson also missed earnings estimates pretty soundly and saw a decrease in AUM, so the market’s reaction is certainly understandable.

Bram Berkowitz has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.

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