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 (JHG) released its Q1 2021 results, reporting an operating income of US$192.5 million, down from US$227.0 million in Q4 2020. The diluted earnings per share (EPS) is US$0.88, a 14% decrease compared to Q4 2020 but an improvement from US$(1.35) in Q1 2020. Adjusted operating income was US$201.5 million, with adjusted EPS at US$0.91, both reflecting declines from the previous quarter. The Group announced a 6% increase in dividends and repurchased 8.1 million shares for US$230.2 million in Q1.
- Dividend increased by 6%, with a quarterly dividend of US$0.38 per share.
- Strong performance in long-term investments and solid financials.
- Share buyback of 8.1 million shares for US$230.2 million.
- Adjusted EPS increased by 52% year-over-year to US$0.91.
- Operating income decreased by 15% from Q4 2020.
- Diluted EPS decreased by 14% from Q4 2020.
- Adjusted revenue fell to US$516.6 million from US$528.5 million in Q4 2020, primarily due to lower performance fees.
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Analyzing...
Janus Henderson Group plc (NYSE/ASX: JHG; ‘JHG’, ‘the Group’) published its first quarter 2021 results for the period ended 31 March 2021.
First quarter 2021 operating income was US
First quarter 2021 diluted earnings per share of US
Dick Weil, Chief Executive Officer of Janus Henderson Group plc, stated:
“Our first quarter results reflect solid long-term investment performance, strong financials and continued capital return to shareholders.
“We remain confident in the momentum we are seeing in several areas of our business, including our Intermediary channel, Fixed Income and Multi-Asset capabilities, and within Equities, European Equities, Life Sciences and Sustainable Equities.
“We continue to be financially disciplined while focusing on investing in strategic growth and returning excess cash to shareholders. We returned over US
SUMMARY OF FINANCIAL RESULTS (unaudited) (in US$ 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 |
|
GAAP basis: |
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|
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|
Revenue |
|
644.0 |
|
657.2 |
|
554.9 |
|
Operating expenses |
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451.5 |
|
430.2 |
|
887.3 |
|
Operating income (loss) |
|
192.5 |
|
227.0 |
|
(332.4 |
) |
Operating margin |
|
29.9 |
% |
34.5 |
% |
(59.9 |
)% |
Net income (loss) attributable to JHG |
|
155.5 |
|
186.8 |
|
(247.0 |
) |
Diluted earnings (loss) per share |
|
0.88 |
|
1.02 |
|
(1.35 |
) |
|
|
|
|
|
|
|
|
Adjusted basis: |
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|
|
|
|
|
|
Revenue |
|
516.6 |
|
528.5 |
|
442.7 |
|
Operating expenses |
|
315.1 |
|
296.8 |
|
278.2 |
|
Operating income |
|
201.5 |
|
231.7 |
|
164.5 |
|
Operating margin |
|
39.0 |
% |
43.8 |
% |
37.2 |
% |
Net income attributable to JHG |
|
161.5 |
|
189.0 |
|
112.7 |
|
Diluted earnings per share |
|
0.91 |
|
1.04 |
|
0.60 |
|
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 |
|
31 Dec 2020 |
Net tangible assets / (liabilities) per ordinary share |
|
2.81 |
|
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 |
|
2020 |
|
2020 |
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Opening AUM |
|
401.6 |
|
|
358.3 |
|
|
374.8 |
|
Sales |
|
20.7 |
|
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23.2 |
|
|
21.4 |
|
Redemptions |
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(24.0 |
) |
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(24.3 |
) |
|
(33.6 |
) |
Net sales / (redemptions) |
|
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FAQWhat were Janus Henderson Group's Q1 2021 earnings results?
Janus Henderson Group reported an operating income of US$192.5 million and diluted earnings per share of US$0.88 for Q1 2021.
How much did Janus Henderson Group pay in dividends in Q1 2021?
The Group declared a quarterly dividend of US$0.38 per share, reflecting a 6% increase.
What challenges did Janus Henderson Group face in Q1 2021?
The Group faced a decline in operating income and adjusted revenue due to lower performance fees.
What was Janus Henderson Group's share repurchase amount in Q1 2021?
Janus Henderson Group repurchased 8.1 million shares for US$230.2 million in Q1 2021.
How did Janus Henderson's Q1 2021 adjusted EPS compare year-over-year?
Adjusted diluted EPS increased by 52% compared to Q1 2020, reaching US$0.91.
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