Virtus Investment Partners, Inc. (VRTS) Earnings Call Transcripts

Virtus Investment Partners, Inc.'s Latest Earnings Call - Q1 FY2026

In the first quarter of 2026, Virtus Investment Partners reported total revenue of $163.5 million, a 3% decline year-over-year, primarily due to lower average assets under management (AUM). Earnings per share (EPS) adjusted for seasonal expenses was $5.38, reflecting a significant decrease from $7.16 in the previous quarter. Management highlighted a challenging net flow environment, with total net outflows of $8.4 billion, although they noted an improvement in flows towards the end of the quarter, particularly in April. The company is focusing on expanding its product offerings and has made a strategic investment in Keystone National Group to enhance its private credit capabilities.

Reported metrics

Guidance from management

Management expects to see continued improvement in flows, particularly in retail separate accounts, and anticipates a reasonable average fee rate of 43 to 45 basis points for the second quarter, reflecting a full quarter of Keystone's impact.

What management said

Yes, I think you hit on the key points. I think we're starting to see contribution on the top line from some of those managers, and they have experienced growth. Obviously, it's been overshadowed by some of the larger managers who have a quality orientation, but we're seeing that growth. I think we called it out in the intermediary sponsored retail separate account platform. As George mentioned, we've seen expanded a...

Okay. Well, thank you very much, and I want to thank everyone today for joining us. Obviously, certainly encourage you to reach out if you have any other further questions, and have a great day. Thank you very much.

What analysts pressed on

Analysts expressed concerns regarding the elevated net outflows and the long-term trajectory for improving flows. There were questions about the effectiveness of management's strategies to counteract the outflows and the potential for quality-oriented strategies to regain favor in the market.

Main topics on the call

• Net Flows and Sales Performance — Despite a challenging environment, total sales increased by 8% to $5.8 billion, driven by a 26% increase in equity strategy sales. However, net outflows totaled $8.4 billion, primarily from quality-oriented equity strate...
• Investment in Keystone National Group — The acquisition of Keystone National Group for $200 million is expected to enhance Virtus's private credit capabilities. Management indicated that Keystone adds a differentiated asset-centric private credit capability, s...
• Improvement in April Flows — Management noted that flows improved in April, with U.S. retail funds showing better sales and net flows, which were at their highest level since September. This trend is seen as a positive sign for future quarters, with...
• Operating Margin and Expenses — The operating margin was reported at 24%, reflecting seasonal employment expenses. Excluding these, the adjusted operating margin was 30.3%. Management stated, "Total employment expenses as adjusted of $106.2 million inc...

Read the full Virtus Investment Partners, Inc. transcript (Q1 FY2026) → Summary generated from the call transcript; every figure above is stated by management on the record.

Earnings Call History

EarningsCalls.dev has 29 Virtus Investment Partners, Inc. earnings call transcripts on record, spanning January 31, 2020 to July 30, 2026. Based on this history, Virtus Investment Partners, Inc. reports quarterly. The most recent call on file is dated July 30, 2026. The full list is below — each row opens the complete, free-to-read transcript.

Ticker

VRTS

Exchange

NYSE

Country

US

Sector

Financials

Industry

Capital Markets

Calls on record

29

First call

January 31, 2020

Most recent

July 30, 2026

Reporting cadence

quarterly