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Federated Hermes (FHI) investor relations material
Federated Hermes Q3 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q3 2025 earnings summary31 Oct, 2025
Executive summary
Achieved record assets under management (AUM) of $871.2 billion as of September 30, 2025, up 9% year-over-year and 3% sequentially, driven by gains in money market and equity strategies.
Q3 2025 net income was $104.1 million, up 19% from Q3 2024; diluted EPS was $1.34, up 26% year-over-year.
Revenue for Q3 2025 was $469.4 million, up 15% year-over-year, with a declared dividend of $0.34 per share payable November 14, 2025.
The company completed the acquisition of a 60% interest in Rivington, a UK-based renewable energy project developer, and announced an agreement to acquire up to 80% of FCP Fund Manager, L.P., a U.S. real estate manager, expected to close in 2026.
Maintains a diversified asset mix and global distribution, with strong U.S. and international presence.
Financial highlights
Equity assets rose 6% sequentially to $94.7 billion; fixed income assets reached a record $101.8 billion, up 2% year-over-year; money market assets hit $652.8 billion, up 10% year-over-year.
Q3 2025 operating income was $129.5 million, up 16% year-over-year; operating expenses rose 15%, mainly due to higher distribution, compensation, and FX-related costs.
Cash and investments at quarter-end were $647 million, with long-term debt at $1.46 billion.
Effective tax rate for Q3 was 24.4%, impacted by R&D tax credits.
For the first nine months of 2025, net income was $296.3 million, up 61% year-over-year; EPS was $3.75, up 70%.
Outlook and guidance
Institutional pipeline is strong, with over $2.1 billion in net institutional mandates yet to fund, mostly in private markets and equities.
Management expects continued investment in technology initiatives, with $253 million planned over the next three years.
Sufficient liquidity is expected to meet both short- and long-term cash needs, supported by strong cash flow and available credit.
FCP acquisition expected to close by end of Q1 2026, with anticipated accretive impact by 2027.
Expense growth expected in line with asset growth and new initiatives, with further FCP closing costs in Q4.
What drives MDT's appeal vs. passive strategies?
Digital asset strategy: long-term revenue impact?
FCP acquisition: expected synergies and integration?
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Next Federated Hermes earnings date
Q4 202530 Jan, 2026
Next Federated Hermes earnings date
Q4 202530 Jan, 2026
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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.
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