Federated Hermes reports Q3 EPS $1.34, consensus $1.12

Reports Q3 revenue $469.45M, consensus $445.35M. “We saw record net sales of equity funds in the third quarter, driven by continued interest in our MDT equity and alternative quantitative investment offerings-a broad suite of quantitative investment solutions that employ a disciplined, bottom-up investment approach that fits a variety of portfolio structures as core or complementary strategies,” said J. Christopher Donahue, president and chief executive officer. “In the declining rate environment of the third quarter, investors with interest in capital preservation and liquidity continued to rely on our money market offerings. They also turned to our microshort and ultrashort funds, which are a step further out the yield curve and pursue higher yields than money market strategies.”