OAKS, Pa., April 20, 2022 – SEI Investments Company (NASDAQ:SEIC) today announced financial results for the first-quarter 2022. Diluted earnings per share were $1.36 in first-quarter 2022 compared to $0.89 in first-quarter 2021. Diluted earnings per share reflect a one-time revenue event of $88.0 million, or $0.47 per share net of associated costs. 

Consolidated Overview

(In thousands, except earnings per share) For the Three Months Ended March 31,
  2022 2021 %
Revenues $581,443 $455,686 28%
Net income 190,308 129,470 47%
Diluted earnings per share $1.36 $0.89 53%

“Our first-quarter financial profits were challenged by negative capital markets, but we achieved solid sales results and successfully implemented new business. We continue investing in our future through new technology and business initiatives to deliver best-in-class platforms and service to our markets and create new growth opportunities,” said SEI Chairman and CEO Alfred P. West, Jr.

“SEI is uniquely positioned in the financial services industry for sustainable growth. I’m thrilled that Ryan Hicke will become SEI’s next CEO, and I’m excited to see him lead the company into the future. His diverse, global experience at SEI informs his commitment to our company’s strengths across our three pillars of expertise: investments, operations, and technology. With this change in leadership, I’m confident SEI has great days ahead.

“The strength of our leadership and talented workforce globally is key to driving SEI’s enduring success and helping our clients manage change with confidence. Looking toward the future, we will make sound decisions to improve our results and continue to capitalize on market opportunities to deliver long-term value to our shareholders and build brave futuresSM for our employees, clients, and communities.”

Please read the full press release.