Federated Hermes, Inc. Reports Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2023
January 25, 2024 at 04:17 pm EST
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Federated Hermes, Inc. reported earnings results for the fourth quarter and full year ended December 31, 2023. For the fourth quarter, the company reported revenue was USD 391.5 million compared to USD 373.9 million a year ago. Net income was USD 82.18 million compared to USD 56.5 million a year ago. Basic earnings per share from continuing operations was USD 0.96 compared to USD 0.63 a year ago. Diluted earnings per share from continuing operations was USD 0.96 compared to USD 0.63 a year ago.
For the full year, revenue was USD 1,609.57 million compared to USD 1,445.81 million a year ago. Net income was USD 298.98 million compared to USD 239.5 million a year ago. Basic earnings per share from continuing operations was USD 3.4 compared to USD 2.65 a year ago. Diluted earnings per share from continuing operations was USD 3.4 compared to USD 2.65 a year ago.
Federated Hermes, Inc. is an investment management company. The Company operates through a single segment, being the investment management business. It sponsors, markets and provides investment-related services to various investment products, including sponsored investment companies and other funds (Federated Hermes Funds); and Separate Accounts, which include separately managed accounts (SMAs), institutional accounts, sub-advised funds and other managed products in both domestic and international markets. In addition, it markets and provides stewardship and real estate development services to various domestic and international companies. The Company provides investment advisory services to approximately 180 Federated Hermes Funds. It markets these funds to institutional customers and banks, broker/dealers and other financial intermediaries who use them to meet the needs of customers and/or clients, including, among others, retail investors, corporations and retirement plans.
FEDERATED HERMES, INC. 
