SEI Reports Second-Quarter 2020 Financial Results
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SEI Investments (SEIC) Reports In-Line Q2 EPS
July 22, 2020 4:05 PM EDTSEI Investments (NASDAQ: SEIC) reported Q2 EPS of $0.68, in-line with the analyst estimate of $0.68. Revenue for the quarter came in at $400.65 million versus the consensus estimate of $401.01 million.
Second-Quarter Business Highlights:
Revenues from Asset management, administration, and distribution fees decreased primarily from lower assets under management from the carryover effect of the sharp market depreciation during March 2020, which negatively impacted our asset-based fee revenues. This decline was partially offset by increased fees from higher assets under administration from positive cash flows and sales of new business in our Investment Managers segment.Our average... More