Yahoo Finance

• Assets Under Management (AUM): Ended the year at $167.1 billion, an increase of $1.6 billion for the quarter and $5.4 billion or 3.3% for the year.

• Private Markets AUM: Grew 1% during the quarter and nearly 7% during the year, ending at $19.7 billion.

• Public Markets AUM: Increased 1% during the quarter and 3% for the year, totaling $147.4 billion.

• Total Revenue: $184 million in Q4, a decline of 13% year over year. Full year revenue increased by $2 million to $689 million.

• Base Management Fees: $157 million in Q4, up 6% year over year. Full year fees were $612 million, up 3% from the prior year.

• Performance Fees: $5 million in Q4, down significantly from $32 million in the same quarter last year. Full year performance fees were $8 million, $26 million lower than the prior year.

• Adjusted EBITDA: $53.4 million in Q4, a decrease of 31% year over year. Full year adjusted EBITDA was $196 million, down 5%.

• Adjusted EBITDA Margin: 29% for Q4 and 28.4% for the full year, down from 30% in the prior year.

• Adjusted Net Earnings: $23 million or $0.21 per share diluted for Q4, down from $50 million or $0.37 per share last year. Full year adjusted net earnings were $103 million, down 19%.

• Net Debt: $651 million at the end of the quarter, up $47 million year over year.

• Dividend: Quarterly dividend of $0.216 per share declared.

• Warning! GuruFocus has detected 5 Warning Signs with FRRPF.

Release Date: February 26, 2025

For the complete transcript of the earnings call, please refer to the full earnings call transcript.

Positive Points

• Fiera Capital Corp (FRRPF) reported an increase in assets under management (AUM) to $167.1 billion, representing a growth of 3.3% for the year.

• The private markets platform experienced significant growth, with AUM increasing by nearly 7% during the year, driven by new mandates and positive market action.

• The company achieved positive net organic growth in its private market platform, with new mandates totaling over 1.7 billion for the year.

• Fiera Capital Corp (FRRPF) saw a strong performance in its private equity and global agriculture strategies, with returns of 11% and 9% respectively for the year.

• The company maintained a robust pipeline of approximately 900 million available for future deployment into private market opportunities.

Negative Points

• Total revenues for the fourth quarter declined by 13% year over year, primarily due to lower performance fees.

• The public markets platform experienced net outflows of approximately 800 million for the quarter, largely due to client rebalancing and moving to other managers.

• Performance fees for the year were significantly lower, with a decrease of $26 million compared to the prior year.

• Adjusted EBITDA for the fourth quarter decreased by 31% year over year, reflecting the impact of lower performance fees.

• The company's net debt ratio increased to 3.3 times, up from 2.9 times in the prior year, indicating higher financial leverage.