SEI Reports Third-Quarter 2017 Financial Results

25 October 2017

Increases Stock Repurchase Program

OAKS, Pa., October 25, 2017 -- SEI Investments Company (NASDAQ:SEIC) today announced financial results for the third-quarter 2017. Diluted earnings per share were $0.63 in third-quarter 2017 compared to $0.53 in third-quarter 2016. In addition, on October 24, 2017, SEI's Board of Directors approved an increase in its stock repurchase program by an additional $200.0 million, increasing the available authorization under the program to approximately $230.5 million. Since the beginning of calendar year 2017, the Company repurchased approximately 3.5 million shares at a cost of approximately $188.3 million. 

Consolidated Overview

(In thousands, except earnings per share) For the Three Months Ended September 30,   For the Nine Months Ended September 30,  
  2017 2016 % 2017 2016 %
Revenues $386,018 $354,641 9% $1,118,333 $1,032,735 8%
Net income 101,739 86,704 17% 282,245 245,206 15%
Diluted earnings per share $0.63 $0.53 19% $1.74 $1.49 17%

“Our third-quarter results reflect continued growth and strategic progress across all of our businesses; even as we continue to invest in and advance our solutions for all our markets," said Alfred P. West, Jr., SEI Chairman and CEO.

“The continued adoption of our broad-based platforms, including the very successful implementation of the SEI Wealth Platform by Regions Bank and a large migration of Investment Advisors segment clients to the Platform, positions us well for the future. As always, we remain committed to long-term sustainable growth and increasing shareholder value."

Read the full press release (PDF)