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Victory Capital Holdings Inc (VCTR)
NASDAQ:VCTR
Earnings Data
Report Date
Apr 30, 2026Before Open (Confirmed)
Period Ending
2026 (Q1)Consensus EPS Forecast
1.62Last Year’s EPS
1.36Same Quarter Last Year
Moderate Buy
Based on 6 Analysts Ratings
Earnings Call Summary
Earnings Call Sentiment|Positive
The call conveyed strong operational and financial momentum: record revenue, record adjusted EBITDA and margins, substantial sales and AUM growth (largely fueled by the Pioneer acquisition), robust ETF performance, and significant progress on synergy realization and balance sheet strengthening. The primary negatives were an off‑trend Q4 net outflow of $2.1 billion driven by a few one‑off items, the timing required to ramp international flows and UCITS contributions, and the reliance on inorganic growth to drive much of the year’s headline increases. On balance, the positive achievements, clear synergy progression and strong capital position substantially outweigh the limited and explained negatives.Company Guidance
Record Annual Revenue and Earnings
Total revenue for FY2025 surpassed $1 billion, reaching $1.3 billion. Fourth-quarter revenue was $374.1 million, up 3.6% sequentially. Adjusted EBITDA reached a record $197.5 million (up 3.7% QoQ) with an adjusted EBITDA margin of 52.8%. Adjusted net income with tax benefit was $151.7 million, or $1.78 per diluted share (record quarterly adjusted EPS).
Significant AUM Expansion Driven by Acquisition
Total client assets ended the year at roughly $317 billion (reported as $316.6 billion), up $140.5 billion or 80% year-over-year — largely reflecting the April closing of the Pioneer/Amundi acquisition. Average AUM in Q4 rose 3.1% sequentially to $312.9 billion.
Outstanding Sales Momentum
Long-term gross sales reached an all-time high of $17.1 billion in Q4, an increase of 159% year-over-year from $6.6 billion. Management highlighted the quarter as the highest level ever of quarterly gross sales and a sixth consecutive quarter of higher gross sales.
ETF Platform Strength and Fee Economics
VictoryShares ETFs generated $1 billion of positive net flows in Q4, bringing ETF assets to nearly $19 billion. The ETF suite averages 34 basis points in fees across 23 ETFs, contributing meaningfully to organic growth and profitability. Free Cash Flow ETF series had positive net flows every month in 2025.
Progress on Integration and Synergies
On a run-rate basis, $97 million of the targeted $110 million in net expense synergies have been realized (approximately 88% realized), and management expects to reach the full $110 million target during calendar 2026 (ahead of original timeline).
Strong Investment Performance Metrics
54 mutual funds and ETFs (65% of rated fund AUM) achieved 4- or 5-star overall Morningstar ratings. Nearly half of fund AUM ranked in the top quartile over the trailing 3-year period, and management stated well over 60% of total AUM is outperforming across key time periods.
Capital Allocation and Balance Sheet Strength
Net leverage ended the quarter at 1.0x with $164 million cash on the balance sheet and an undrawn $100 million revolver. Term Loan B refinanced (SOFR + 200 bps), reducing spread by ~35 bps and saving about $3.5 million annually. Returned $366 million to shareholders for the full year including $93 million in Q4; repurchased 814,000 shares for $51.6 million at an average ~$63 per share and declared a $0.49 quarterly dividend.
International Expansion and Product Launches
The Pioneer transaction globalized the business: 17% of AUM is now from outside the U.S. across ~60 countries. Amundi launched 5 UCITS products for Victory in Q4 (3 managed by RS teams, 2 by Pioneer) and management expects additional UCITS launches and international distribution ramp in 2026.
Long-Term EPS Growth Track Record
Management highlighted a 21% compounded annual growth rate (CAGR) in EPS since the IPO, supporting the company's message of durable earnings growth and a diversified revenue base.
VCTR 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
VCTR Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
Feb 04, 2026 | $70.98 | $69.44 | -2.17% |
Sep 30, 2025 | $64.26 | $62.08 | -3.39% |
Aug 07, 2025 | $66.14 | $69.45 | +5.00% |
May 08, 2025 | $58.74 | $57.83 | -1.55% |
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 Victory Capital Holdings Inc (VCTR) report earnings?
Victory Capital Holdings Inc (VCTR) is schdueled to report earning on Apr 30, 2026, Before Open (Confirmed).
What is Victory Capital Holdings Inc (VCTR) earnings time?
Victory Capital Holdings Inc (VCTR) earnings time is at Apr 30, 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 VCTR EPS forecast?
VCTR EPS forecast for the fiscal quarter 2026 (Q1) is 1.62.