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Edge16 Oct 2026
Winner, Winner: The Chicken McNugget Story
How a 1940s breeding contest, a Cornell food scientist, and a hedge by Ray Dalio helped McDonald's turn the Chicken McNugget into a fast-food icon.
Federated Hermes
Federated Hermes (FHI) investor relations material
Federated Hermes Q3 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q3 2026 earnings summary30 Oct, 2026
Executive summary
Q3 revenue was $507.3M, net income was $111.9M and diluted EPS was $1.50; managed assets ended September at $884.4B, up 2% YoY.
9M revenue increased to $1.489B from $1.318B, net income to $312.6M from $296.3M and diluted EPS to $4.15 from $3.75.
Record equity assets reached $110.5B; long-term investment strategies entered Q4 with $6.5B in institutional wins yet to fund.
Financial highlights
Q3 revenue rose $37.9M, or 8%, YoY, led by $26.5M higher equity revenue and $14.3M from the FCP acquisition; 9M revenue rose $171.2M.
Q3 operating income increased to $153.3M from $129.5M YoY; operating expenses rose $14.0M to $354.0M, while 9M expenses increased $137.0M to $1.077B.
Q3 revenue rose $4.6M QoQ as equity asset growth and an additional day added revenue, partly offset by lower money-market average assets; expenses fell $15.9M QoQ, primarily as Q2 included FCP transaction costs.
Q3 net income attributable to shareholders was $111.9M versus $104.1M YoY; the declared dividend was $0.38 per share.
Outlook and guidance
Expected institutional flows included ~$7B in equity MDT additions, ~$1.2B into private markets and ~$1.7B in fixed-income redemptions, including the Total Return Bond mandate withdrawal.
Equity wins were expected to fund over the next two quarters; several large sub-advised mandates and institutional separate accounts carry lower fee rates than ’40 Act mutual funds.
Planned technology initiatives are expected to require $333M over three years, including $107M external spend and $226M allocated existing technology overhead; the 2026 tax-rate estimate was 25%–28%.
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Latest events from Federated Hermes
- AUM reached $911.6B, with 18% revenue growth and 19% EPS increase in Q2 2026.FHI
Q2 2026 - Board transitions, record financials, and strategic acquisitions marked the annual meeting.FHIAGM 2026
- AUM hit $907.1B, revenue up 13% to $478.96M, and dividend rose to $0.38 per share.FHIQ1 2026
- AUM reached $924B, with growth in digital assets, alternatives, and global expansion.FHI2026 RBC Capital Markets Global Financial Institutions Conference
- Record AUM and double-digit earnings growth driven by money market and equity inflows.FHIQ4 2025
- AUM hit $845.7B, with surging earnings and a new buyback program driving strong Q2 results.FHIQ2 2025
- AUM reached $800.5B, up 12% YoY, with Q3 net income up 17% to $87.5M and EPS at $1.06.FHIQ3 2024
- AUM hit $782.7B, but Q2 profit dropped on a $66.3M impairment charge.FHIQ2 2024
- AUM hit $847B, with equity and alternatives growth, tech upgrades, and acquisitions prioritized.FHIRBC Capital Markets Global Financial Institutions Conference 2025
Next Federated Hermes earnings date
Q4 202628 Jan, 2027
Federated Hermes
Next Federated Hermes earnings date
Q4 202628 Jan, 2027
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Frequently asked questions
Investment Management With an ESG Focus
Federated Hermes, formerly known as Federated Investors, is an American investment management firm with multinational operations. The company offers a diverse range of investment services, including active management in equities, fixed income, alternative and private market investments, multi-asset strategies, and liquidity management. The firm manages substantial assets for a varied clientele, including corporations, government entities, insurance companies, and foundations. It is headquartered in Pittsburgh, Pennsylvania, and its shares are listed on the NYSE.
Founded by High School Classmates
Federated Investors was founded in 1955 in Pittsburgh by two former High School Classmates, John F. Donahue and Richard B. Fisher, together with the help of legal counsel Thomas J. Donnelly, It began as a mutual fund company, primarily focusing on the management of money market funds and steadily growing.
Throughout the 1980s and 1990s, Federated expanded its product offerings and grew its assets under management significantly. It started offering a wider range of mutual funds and began serving a broader client base, eventually going public in 1998. Following its IPO, the company continued to grow, both organically and through acquisitions in 2020, Federated Investors rebranded as Federated Hermes, Inc. This change followed the 2018 acquisition of a majority stake in Hermes Investment Management, a London-based investment management firm known for its focus on responsible investing.
The Financial Services
The company's primary focus is on managing investment funds and providing tailored investment solutions to meet the diverse needs of its clients. These services encompass various asset classes, including equity, fixed income, alternative investments, and multi-asset strategies. A significant aspect of Federated Hermes' offerings is its expertise in liquidity management, which is particularly beneficial for institutional clients and businesses in managing their cash flows and maintaining liquidity.
The firm caters to a broad spectrum of clients, from individual investors to large institutional clients like pension funds, endowments, and financial intermediaries. For individual investors, Federated Hermes offers mutual funds and managed accounts, while institutional clients benefit from customized portfolio management and advisory services. Some similar companies listed on public exchanges are Apollo Global Management, The Carlyle Group, and Franklin Resources.
A Strong Focus on ESG
Federated Hermes has a strong focus on Environmental, Social, and Governance (ESG) principles, positioning these factors at the core of its investment philosophy. The company integrates ESG considerations into its investment analysis and decision-making processes across its entire portfolio. By doing so, Federated Hermes aims to identify companies that not only demonstrate financial potential but also show a commitment to responsible business practices.