SEI Reports First-Quarter 2019 Financial Results
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SEI Investments (SEIC) Misses Q1 EPS by 2c, Revenues Miss
April 24, 2019 4:04 PM EDTSEI Investments (NASDAQ: SEIC) reported Q1 EPS of $0.73, $0.02 worse than the analyst estimate of $0.75. Revenue for the quarter came in at $400.82 million versus the consensus estimate of $403.49 million.
"Our first-quarter earnings reflect the recovery from the financial markets' swoon in late 2018, offset by reduced processing fees from non-recurring activities and a higher tax rate. While our net sales results for the quarter were down, our company's new sales activities, which are not reflected in first-quarter close results, are robust, and we expect they will translate into stronger levels in the future,"... More
