Patria Reports Third Quarter 2022 Earnings Results

Rhea-AI Summary

Patria (Nasdaq:PAX) announced its Q3 2022 results, reporting $12.2 million in net income, a 46% increase in Fee Related Earnings to $31.7 million, and distributable earnings of $29.7 million, equivalent to $0.20 per share. The company raised over $2.7 billion this year, reflecting a 67% year-to-date increase in Fee Related Earnings, maintaining its guidance for 2022. A quarterly dividend of $0.171 per share was declared, payable on December 7, 2022. Patria boasts $26.5 billion in assets under management and a 57% FRE margin.

Positive

• Fee Related Earnings increased by 46% to $31.7 million.
• Distributable Earnings reached $29.7 million, or $0.20 per share.
• Raised over $2.7 billion in 2022, expressing strong business growth.
• Year-to-date Fee Related Earnings up 67%, meeting guidance.

Negative

• None.

GRAND CAYMAN, Cayman Islands, Nov. 03, 2022 (GLOBE NEWSWIRE) -- Patria (Nasdaq:PAX) reported today its unaudited results for the third quarter ended September 30, 2022. The full detailed presentation of Patria's third quarter 2022 results can be accessed on the Shareholders section of Patria’s website at https://ir.patria.com/.

Alex Saigh, Patria’s CEO, said: “Patria’s results for the third quarter reflect progress in our key growth drivers and the resilience of our business model through today’s challenging environment. We have raised more than $2.7 billion this year across a diverse range of products and our year-to-date Fee Related Earnings are up 67% compared to the prior year as we remain on track to reach our FRE guidance for 2022.”

Financial Highlights (reported in $ USD)

IFRS results included $12.2 million of net income attributable to Patria in Q3 2022. Patria generated Fee Related Earnings of $31.7 million in Q3 2022, up 46% from $21.8 million in Q3 2021, with an FRE margin of 57%. Distributable Earnings were $29.7 million for Q3 2022, or $0.20 per share.

Dividends

Patria has declared a quarterly dividend of $0.171 per share to record holders of common stock at the close of business on November 15, 2022. This dividend will be paid on December 7, 2022.

Conference Call

Patria will host its third quarter 2022 earnings conference call via public webcast on November 3, 2022 at 10:30 a.m. ET. To register and join, please use the following link:

https://edge.media-server.com/mmc/p/tvvm7j6c

For those unable to listen to the live broadcast, there will be a webcast replay on the Shareholders section of Patria’s website at https://ir.patria.com/ shortly after the call’s completion.

About Patria

Patria is a leading alternative investment firm focused on Latin America, with over 30 years of history and combined assets under management of $26.5 billion, and a global presence with offices in 10 cities across 4 continents. Patria aims to provide consistent returns in attractive long-term investment opportunities that allow for portfolio diversification through its Private Equity, Infrastructure, Credit, Public Equities and Real Estate products. Through its investments Patria seeks to transform industries and untangle bottlenecks, generating attractive returns for its investors, while creating sustainable value for society. Further information is available at www.patria.com.

Forward-Looking Statements

This press release may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. You can identify these forward-looking statements by the use of words such as "outlook," "indicator," "believes," "expects," "potential," "continues," "may," "will," "should," "seeks," "approximately," "predicts," "intends," "plans," "estimates," "anticipates" or the negative version of these words or other comparable words. Such forward-looking statements are subject to various risks and uncertainties. Accordingly, there are or will be important factors that could cause actual outcomes or results to differ materially from those indicated in these statements. We believe these factors include but are not limited to those described under the section entitled "Risk Factors" in our 424(b) prospectus, as such factors may be updated from time to time in our periodic filings with the United States Securities and Exchange Commission ("SEC"), which are accessible on the SEC's website at www.sec.gov. These factors should not be construed as exhaustive and should be read in conjunction with the other cautionary statements that are included in our periodic filings. The forward-looking statements speak only as of the date of this press release, and we undertake no obligation to publicly update or review any forward-looking statement, whether as a result of new information, future developments or otherwise.

Contact

Josh Wood
t +1 917 769 1611
josh.wood@patria.com

Andre Medina
t +1 345 640 4904
andre.medina@patria.com

FAQ

What were Patria's earnings for Q3 2022?

Patria reported $12.2 million in net income for Q3 2022.

How much did Patria raise in 2022?

Patria raised over $2.7 billion across various products in 2022.

What is the dividend declared by Patria for Q3 2022?

Patria declared a quarterly dividend of $0.171 per share, payable on December 7, 2022.

What are the Fee Related Earnings for Patria in Q3 2022?

Patria's Fee Related Earnings for Q3 2022 were $31.7 million, a 46% increase from the prior year.