Overview

* Fiera Capital ( FRRPF ) Q2 revenue misses analyst expectations, down 1.1% yr/yr

* Adjusted EBITDA rises 5.3% from Q1, driven by lower SG&A expenses

* Company repurchased 1.1 mln shares, reinforcing capital return commitment

Outlook

* Company focuses on strategic priorities for long-term organic growth

* Fiera Capital ( FRRPF ) highlights momentum in Public Markets with C$1.4 bln new mandates

Result Drivers

* PRIVATE MARKETS GROWTH - Assets under management in Private Markets grew year-over-year to nearly C$21 bln, contributing to stable average AUM

* PUBLIC MARKETS CHALLENGES - Revenue decline attributed to lower base management fees in Public Markets, despite strong new mandates

* STRATEGIC PRIORITIES - Focus on delivering consistent investment performance and improving operating efficiency, per CEO Maxime Ménard

Key Details

Metric Beat/Mis Actual Consensu

s s

Estimate

Q2 Miss C$162.97 C$166.20

Revenue mln mln (3

Analysts

)

Q2 C$27.20

Adjusted mln

Net

Income

Q2 Net C$3.76

Income mln

Q2 C$45.69

Adjusted mln

EBITDA

Q2 28.0%

Adjusted

EBITDA

Margin

Analyst Coverage

* The current average analyst rating on the shares is "hold" and the breakdown of recommendations is no "strong buy" or "buy", 5 "hold" and no "sell" or "strong sell"

* The average consensus recommendation for the investment management & fund operators peer group is "hold"

* Wall Street's median 12-month price target for Fiera Capital Corp ( FRRPF ) is C$7.00, about 5.4% above its August 7 closing price of C$6.62

* The stock recently traded at 7 times the next 12-month earnings vs. a P/E of 6 three months ago

Press Release:

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)