Hamilton Lane Incorporated (HLNE) Misses Q3 EPS by 1c

Hamilton Lane Incorporated (NASDAQ: HLNE) reported Q3 EPS of $0.46, $0.01 worse than the analyst estimate of $0.47.

THIRD QUARTER FISCAL 2020 HIGHLIGHTS

• Assets under management – Total assets under management of approximately $66 billion grew 13% year-over-year. Fee-earning assets under management increased 14% to approximately $37 billion, over the same time period.
• Revenue – Management and advisory fees of approximately $60 million for the quarter and $180 million year-to-date represent growth of 8% and 12%, respectively.
• Carried Interest – Unrealized carried interest balance of approximately $409 billion grew 15% year-over-year.
• Earnings per share – GAAP EPS of $0.46 on approximately $13 million of GAAP net income for the quarter with year-to-date GAAP EPS of $1.44 on approximately $40 million of GAAP net income.
• Dividend – Declared a quarterly dividend of $0.275 per share of Class A common stock to record holders at the close of business on March 16, 2020 that will be paid on April 6, 2020. The target full-year dividend of $1.10 represents a 29% increase from the prior fiscal year dividend.

Hamilton Lane CEO Mario Giannini commented: “We were pleased with the growth this quarter across all key areas of our business, driven by a combination of deepening relationships with existing clients, adding new clients and growing our specialized funds. The appetite for private markets solutions remains strong and we continue to benefit from that demand.”

For earnings history and earnings-related data on Hamilton Lane Incorporated (HLNE) click here.

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