SEI Reports Second-Quarter 2019 Financial Results

24 July 2019

OAKS, Pa., July 24, 2019 – SEI Investments Company (NASDAQ:SEIC) today announced financial results for the second-quarter 2019. Diluted earnings per share were $0.82 in second-quarter 2019 compared to $0.75 in second-quarter 2018.

In addition, on July 23, 2019, SEI's Board of Directors approved an increase in its stock repurchase program by an additional $250 million, increasing the available authorization under the program to approximately $280 million.

Consolidated Overview

(In thousands, except
earnings per share)
For the Three Months
Ended June 30,
  For the Six Months
Ended June 30,
 
  2019 2018 % 2019 2018 %
Revenues $409,586 $404,830 1% $810,406 $810,428 -%
Net income 126,540 121,677 4% 240,521 261,515 (8)%
Diluted earnings per share $0.82 $0.75 9% $1.54 $1.61 (4)%

“Our second-quarter results reflect improved capital markets, the implementation of new clients and the delivery of services to existing clients. We are efficiently managing the business while making the necessary investments to expand our opportunities and strengthen the platforms we bring to our target markets,” said Alfred P. West, Jr., SEI Chairman and CEO.

“We continue to face up to the challenges presented by the ever-changing markets, while innovating to take advantage of today’s opportunities and those we anticipate in the future. Our platforms are built to help our clients achieve lasting success. This key focus will foster the company’s growth and increased shareholder value over the long term."

Please read the full press release.