IVZ · Invesco Q2 FY2026 earnings call record财报电话会记录

“We increased operating income by 35% in the first half of this year, we expanded our operating margin by nearly 470 basis points as compared to the same period last year, reaching 37.5% in the second quarter.”

“This is a testament to the hard work that our colleagues across Invesco have been doing over the past several quarters to streamline our business, drive profitability and margin expansion, and strengthen our balance sheet.”

“It's also notable that nearly a third of our net inflows were generated in the EMEA region, where we continue to see strong demand for our ETF range.”

“On a sequential quarter basis, net revenue growth was 5%, while adjusted operating expenses were essentially flat, generating nearly 500 basis points of positive operating leverage and a 300 basis point operating margin improvement in the second quarter, with operating margin expanding to 37.5%.”

“Adjusted operating income increased 14% to nearly $500 million for the quarter, and adjusted diluted earnings per share increased to $0.71 from $0.57 in the first quarter, a 25% improvement.”

“During the second quarter, we reduced total debt by $343 million and net debt by over $450 million as compared to the first quarter.”

“Looking back over the past year, the leverage ratio inclusive of the preferred stock improved by nearly a turn, driven by the $1.5 billion in preferred share repurchases, debt reduction, and improving EBITDA.”

“We intend to continue a regular common share repurchase program going forward as we target a total payout ratio, including common dividends and share buybacks, to be near 60%.”

“This, combined with well-managed expenses, delivered another quarter of positive operating leverage and a significant improvement in our operating margin.”

“We are continuing to make forward progress, and expanding both our buybacks and the modest increase in the common dividend that we announced last quarter.”

“I think going forward, it's fair to think about that as somewhere in that 22.7%-23% range, maybe even a little bit closer to 23% going forward.”

“The net revenue yield came in at 6 basis points better than the prior guidance.”