Yahoo Finance

• Assets Under Management (AUM): Increased by $2.3 billion to $33.4 billion, reaching a record high; further increased to $34.2 billion as of November 1.

• Net Income: $12.7 million for the quarter, up 87% from $6.8 million in the same period last year; $37.6 million year-to-date, up 17% from $32.1 million last year.

• Adjusted Base EBITDA: $20.7 million for the quarter, up 16% from $17.9 million last year; $62.8 million year-to-date, up 18% from $53.1 million last year.

• Net Sales: $589 million in the quarter, primarily in physical gold and silver funds; year-to-date net sales just below $1 billion.

• Dividend Increase: 20% increase in quarterly dividend.

• Debt Status: Expect to be debt-free by the end of November.

• Gold and Silver Trust Performance: PHYS units grew by 109%, PSLV units grew by 219% over the last five years.

• Flagship Gold Equity Fund Performance: Gained 21.4% in the third quarter and 36.3% year-to-date.

• Private Strategies AUM: $2.4 billion as of September 30, 2024.

• Warning! GuruFocus has detected 6 Warning Sign with SII.

Release Date: November 06, 2024

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

Positive Points

• Sprott Inc (NYSE:SII) reported a record high in assets under management (AUM), increasing by $2.3 billion to $33.4 billion, with further growth to $34.2 billion as of November 1.

• The company experienced strong net sales of $589 million during the quarter, primarily in physical gold and silver funds.

• Net income for the quarter was $12.7 million, up 87% from the same period last year, and year-to-date net income increased by 17%.

• Sprott Inc (NYSE:SII) announced a 20% increase in its quarterly dividend, supported by strong earnings and a robust cash and liquidity profile.

• The company is developing two new precious metals ETFs, expected to launch in the first quarter of 2025, indicating future growth potential.

Negative Points

• Despite strong performance in precious metals, Sprott Inc (NYSE:SII) faced $54.6 million in net reductions in its managed equity segment during the quarter.

• The company experienced redemptions of $167 million in the managed equity segment over the first nine months of the year.

• Market weakness in critical materials led to muted sales of $56 million in the equity ETFs segment.

• The company is still dealing with the impact of geopolitical uncertainties, such as potential trade tensions with China under the Trump presidency.

• Sprott Inc (NYSE:SII) has not been immune to redemptions in its precious metals segment, although it fared better than competitors.