T Rowe Price (TROW)
NASDAQ:TROW
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Earnings Data
Report Date
Jul 23, 2026Before Open (Confirmed)
Period Ending
2026 (Q2)Consensus EPS Forecast
2.29Last Year’s EPS
2.24Same Quarter Last Year
Moderate Sell
Based on 10 Analysts Ratings
Earnings Call Summary
Earnings Call Sentiment|Positive
The call balanced solid financial and product progress—13% YoY EPS growth, 5% revenue growth, AUM up ~9.6% YoY on average, strong ETF/SMA/target-date inflows, and notable alternatives momentum—with clear near-term headwinds: meaningful net outflows of $13.7B, compression of effective fees, challenged 1-year performance in several franchises, and elevated market/credit volatility. Management emphasized cost discipline, capital returns (dividend and buybacks), and strategic investments (ETFs, alternatives, partnerships) to offset flow and fee pressures.Company Guidance
Adjusted EPS Growth
Adjusted EPS of $2.52 for Q1 2026, up 13% year-over-year and up 3% sequentially from Q4 2025, driven by higher revenue from increased average AUM, lower expenses, a lower tax rate, and reduced share count.
Revenue and AUM Momentum
Adjusted net revenue > $1.8 billion, up 5% versus Q1 2025. Average AUM of $1.78 trillion was nearly flat sequentially and up 9.6% versus Q1 2025; ending AUM was $1.71 trillion.
Strong Flows in Targeted Businesses
Target Date franchise net inflows of $4.9 billion in the quarter; multi-asset, fixed income and alternatives delivered positive net flows. ETFs generated over $2.8 billion in net flows in Q1 and ETF AUM surpassed $25 billion. SMA platform grew to 42 offerings with >$17 billion AUM and over $900 million in net flows.
Product and Distribution Progress
Launched 2 ETFs in the quarter (now 32 ETFs total, 8 with scaled AUM ≥ $1 billion), progressing on Goldman Sachs collaboration and new vehicles (interval fund, Target Date sister series), planning first European ETF launches, and closed first T. Rowe Price-managed CLO in April to extend floating rate capabilities.
OHA / Alternatives Momentum
OHA total AUM of $112 billion as of March 31 (up from ~$88 billion at YE2024, ~+27%), record fundraising (largest fund $17.7 billion), nearly $40 billion capital raised in 2024–2025 combined, and >$30 billion of dry powder positioning the alternatives franchise to deploy into widened spreads and opportunities.
Expense Management and Capital Return
Q1 adjusted operating expenses (ex. carried interest) were $1.14 billion (1% above Q1 2025 and down 7% from Q4 2025), reflecting cost-savings programs. Strong balance sheet with >$4.1 billion cash and discretionary investments, 40th consecutive annual dividend increase to $1.30 per share, and $340 million of stock repurchases in Q1 (year-to-date ~4 million shares ~<$400 million).
Strong Fixed Income and Long-Term Performance
Fixed income funds outperformed on an asset-weighted basis across 1-, 3-, 5- and 10-year periods (over three quarters of funds outperforming). Long-term performance across other franchises remained strong (example: target date 3-, 5-, 10-year asset-weighted outperformance of 94%, 54%, and 98% respectively).
TROW Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
TROW Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
Apr 30, 2026 | $100.47 | $102.88 | +2.40% |
Feb 04, 2026 | $101.15 | $95.60 | -5.49% |
Oct 31, 2025 | $99.41 | $99.80 | +0.39% |
Aug 06, 2025 | $101.60 | $101.38 | -0.22% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
FAQ
When does T Rowe Price (TROW) report earnings?
T Rowe Price (TROW) is schdueled to report earning on Jul 23, 2026, Before Open (Confirmed).
What is T Rowe Price (TROW) earnings time?
T Rowe Price (TROW) earnings time is at Jul 23, 2026, Before Open (Confirmed).
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is TROW EPS forecast?
TROW EPS forecast for the fiscal quarter 2026 (Q2) is 2.29.