Benzinga | Jul 28, 2020 09:45AM EDT

Waddell & Reed Financial: Q2 Earnings Insights

Shares of Waddell & Reed Financial (NYSE:WDR) fell 3.5% after the company reported Q2 results.

Quarterly Results

Earnings per share decreased 15.56% year over year to $0.38, which beat the estimate of $0.32.

Revenue of $240,034,000 decreased by 11.15% from the same period last year, which missed the estimate of $242,880,000.

Outlook

Earnings guidance hasn't been issued by the company for now.

Waddell & Reed Financial hasn't issued any revenue guidance for the time being.

How To Listen To The Conference Call

Date: Jul 28, 2020

Time: 10:00 AM

ET Webcast URL: https://services.choruscall.com/links/wdr200728.html

Recent Stock Performance

Company's 52-week high was at $18.33

52-week low: $9.87

Price action over last quarter: Up 5.33%

Company Description

Waddell & Reed is a midsize asset manager that had $56.0 billion in assets under management at the end of March 2020. The firm provides investment services for individual and institutional investors. Retail distribution, which accounts for 96% of managed assets, is handled through the company's own registered investment advisors (58% of AUM) and third-party broker/dealers and advisors (38%) in the wholesale channel. Equity-driven strategies account for an estimated 73% of total AUM, with fixed-income (24%) and money market (3%) offerings accounting for the remainder. The company has no discernible reach outside the United States.