Janus Henderson Group plc Reports First Quarter 2021 Diluted EPS of US$0.88, or US$0.91 on an Adjusted Basis
Janus Henderson Group plc (NYSE/ASX: JHG; ‘JHG’, ‘the Group’) published its first quarter 2021 results for the period ended 31 March 2021.
First quarter 2021 operating income was US
First quarter 2021 diluted earnings per share of US
Dick Weil, Chief Executive Officer of Janus Henderson Group plc, stated:
“Our first quarter results reflect solid long-term investment performance, strong financials and continued capital return to shareholders.
“We remain confident in the momentum we are seeing in several areas of our business, including our Intermediary channel, Fixed Income and Multi-Asset capabilities, and within Equities, European Equities, Life Sciences and Sustainable Equities.
“We continue to be financially disciplined while focusing on investing in strategic growth and returning excess cash to shareholders. We returned over US
SUMMARY OF FINANCIAL RESULTS (unaudited) (in US$ millions, except per share data or as noted)
The Group presents its financial results in US$ and in accordance with accounting principles generally accepted in the United States of America (‘US GAAP’ or ‘GAAP’). However, JHG management evaluates the profitability of the Group and its ongoing operations using additional non-GAAP financial measures. Management uses these performance measures to evaluate the business, and adjusted values are consistent with internal management reporting. See ‘Reconciliation of non-GAAP financial information’ below for additional information.
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Three months ended |
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31 Mar |
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31 Dec |
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31 Mar |
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2021 |
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2020 |
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2020 |
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GAAP basis: |
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Revenue |
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644.0 |
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657.2 |
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554.9 |
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Operating expenses |
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451.5 |
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430.2 |
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887.3 |
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Operating income (loss) |
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192.5 |
|
227.0 |
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(332.4 |
) |
Operating margin |
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29.9 |
% |
34.5 |
% |
(59.9 |
)% |
Net income (loss) attributable to JHG |
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155.5 |
|
186.8 |
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(247.0 |
) |
Diluted earnings (loss) per share |
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0.88 |
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1.02 |
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(1.35 |
) |
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Adjusted basis: |
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Revenue |
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516.6 |
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528.5 |
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442.7 |
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Operating expenses |
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315.1 |
|
296.8 |
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278.2 |
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Operating income |
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201.5 |
|
231.7 |
|
164.5 |
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Operating margin |
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39.0 |
% |
43.8 |
% |
37.2 |
% |
Net income attributable to JHG |
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161.5 |
|
189.0 |
|
112.7 |
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Diluted earnings per share |
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0.91 |
|
1.04 |
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0.60 |
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First quarter 2021 adjusted revenue of US
DIVIDEND AND SHARE BUYBACK
On 28 April 2021, the Board approved a
JHG purchased 8.1 million of its ordinary shares on the NYSE and its CHESS Depositary Interests (CDIs) on the ASX in the first quarter, primarily as part of its participation in Dai-ichi Life’s registered secondary public offering, for a total outlay of US
Net tangible assets per share
US$ |
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31 Mar 2021 |
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31 Dec 2020 |
Net tangible assets / (liabilities) per ordinary share |
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2.81 |
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3.68 |
Net tangible assets are defined by the ASX as being total assets less intangible assets less total liabilities ranking ahead of, or equally with, claims of ordinary shares.
AUM AND FLOWS (in US$ billions)
FX reflects movement in AUM resulting from changes in foreign currency rates as non-US$ denominated AUM is translated into US$. Redemptions include impact of client switches.
Total Group comparative AUM and flows
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Three months ended |
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31 Mar |
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31 Dec |
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31 Mar |
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2021 |
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2020 |
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2020 |
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Opening AUM |
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401.6 |
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358.3 |
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374.8 |
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Sales |
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20.7 |
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23.2 |
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21.4 |
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Redemptions |
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(24.0 |
) |
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(24.3 |
) |
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(33.6 |
) |
Net sales / (redemptions) |
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