Overview

* Fiera Capital ( FRRPF ) Q3 revenue slightly misses analyst expectations

* Adjusted EPS for Q3 meets analyst estimates

* Company achieved positive net organic growth in AUM, driven by new relationships

Outlook

* Company did not provide specific guidance for future quarters or full year

Result Drivers

* NET ORGANIC GROWTH - Positive net organic growth of C$900 mln in AUM, driven by new relationships with ATB Investment Management and the Canadian District of the United Brotherhood of Carpenters and Joiners of America

* ADJUSTED EBITDA MARGIN - Improved to 30% due to higher revenues and cost containment efforts, according to CFO Lucas Pontillo

* CAPITAL RETURN - Reduced net debt and repurchased over 500,000 shares, reinforcing commitment to return capital to shareholders

Key Details

Metric Beat/Mis Actual Consensu

s s

Estimate

Q3 Slight C$167.09 C$167.61

Revenue Miss* mln mln (2

Analysts

)

Q3 Meet C$0.23 C$0.23

Adjusted (4

EPS Analysts

)

Q3 C$25.03

Adjusted mln

Net

Income

Q3 Net C$5.83

Income mln

Q3 C$50.33

Adjusted mln

EBITDA

Q3 30.10%

Adjusted

EBITDA

Margin

*Applies to a deviation of less than 1%; not applicable for per-share numbers.

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 "buy."

* Wall Street's median 12-month price target for Fiera Capital Corp ( FRRPF ) is C$7.00, about 10.4% above its November 12 closing price of C$6.27

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

Press Release:

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(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.)