Overview

* Silvercrest Q3 revenue and adjusted EPS missed analyst expectations

* Discretionary AUM increased 3% sequentially, reaching $24.3 bln

* Total AUM hit a new high of $37.6 bln, driven by market appreciation

Outlook

* Silvercrest expects discretionary AUM to exceed all-time highs in coming quarters

* Company plans to adjust non-discretionary AUM reporting in 2026

* Compensation ratio to remain elevated due to strategic investments

Result Drivers

* DISCRETIONARY AUM GROWTH - Increase primarily due to beneficial equity markets, despite overall negative flows

* ORGANIC GROWTH FOCUS - Added $46.4 mln in new client accounts during Q3, with $564 mln added YTD

* STRATEGIC INVESTMENTS - Ongoing investments in intellectual capital and headcount aimed at long-term growth

Key Details

Metric Beat/Mis Actual Consensu

s s

Estimate

Q3 Miss $31.29 $32.20

Revenue mln mln (3

Analysts

)

Q3 Miss $0.19 $0.28 (3

Adjusted Analysts

EPS )

Q3 Miss $2.40 $3.63

Adjusted mln mln (3

Net Analysts

Income )

Q3 Net $1.08

Income mln

Q3 Miss $4.52 $6.64

Adjusted mln mln (3

EBITDA Analysts

)

Q3 14.50%

Adjusted

EBITDA

Margin

Analyst Coverage

* The current average analyst rating on the shares is "strong buy" and the breakdown of recommendations is 3 "strong buy" or "buy", no "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 Silvercrest Asset Management Group Inc ( SAMG ) is $22.00, about 34.8% above its October 30 closing price of $14.34

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.)