Company Reports Q1 Revenue of $690M, Below Expectations
Reports Q1 revenue $690M, consensus $693.33M. Ali Dibadj, Chief Executive Officer, stated: "Our first quarter results are solid, reflecting our resilience in a challenging market. We achieved year-over-year improvements in net flows and, on an adjusted basis, operating revenues, operating income, and EPS, while continuing to execute our strategy to Protect and Grow, Amplify, and Diversify our business. Our diversified and truly global platform positions us well to serve our clients, and we remain committed to the strategic priorities that are driving meaningful and sustained improvement in our financial results. We are pleased with the progress made toward the closing of the previously announced take-private transaction with Trian Fund Management, L.P. and its affiliated funds and General Catalyst Group Management, LLC and its affiliated funds. The overwhelming shareholder approval of the transaction in April marks a key milestone towards completion. The transaction with Trian and General Catalyst is expected to close in mid-2026, subject to customary closing conditions, including receipt of applicable regulatory approvals and client consents."