10-Q · May 8, 2026
Virtus Investment Partners reported Q1 2026 revenues of $199.5 million, an 8.4% decline from $217.9 million in Q1 2025, with diluted EPS of $1.05, down 74.1% year-over-year. Despite exceeding revenue expectations, the…
Earnings analysis · 10-Q
VRTS earnings analysis
Filed August 7, 2026 · Our reading of the company's report
The latest report
Virtus reported Q2 2026 revenue of $201.362 million, up approximately 0.9% sequentially but down 4.6% year over year. Diluted EPS recovered to $5.54 from $1.05 in Q1, although it declined 9.5% from $6.12 in the…
Read full summary
Virtus reported Q2 2026 revenue of $201.362 million, up approximately 0.9% sequentially but down 4.6% year over year. Diluted EPS recovered to $5.54 from $1.05 in Q1, although it declined 9.5% from $6.12 in the prior-year quarter. The filing provides no quantitative guidance, identifies no material changes to stated risk factors, and highlights Keystone’s material contribution despite its controls being excluded from management’s assessment.
Reported figures
- Earnings per share
- $5.54
What stood out
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Revenue Stabilized Sequentially
Second-quarter revenue was $201.362 million, up from $199.5 million in Q1 2026 but down from $211 million in Q2 2025, representing approximately 0.9% sequential growth and 4.6% year-over-year contraction.
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EPS Rebounded, but Below Prior Year
Diluted EPS was $5.54, sharply above $1.05 in Q1 2026 but below $6.12 in Q2 2025, a sequential increase of approximately 427.6% but a year-over-year decline of 9.5%.
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Share Repurchases Continued
The company repurchased 70,097 shares during the quarter, including 34,723 shares in May at an average $141.67 and 35,374 shares in June at an average $143.57.
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Repurchase Capacity Declined
The repurchase authorization had 662,388 shares remaining at June 30, 2026, compared with 732,485 shares available at April 30, 2026.
What to watch
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Keystone Controls Not Yet Assessed
Management excluded Keystone from its internal-control assessment because it was acquired on March 1, 2026. Keystone represented 12.3% of consolidated total assets at June 30, 2026 and 6.9% and 4.8% of consolidated revenues for the three- and six-month periods, respectively, increasing integration and control-monitoring risk.
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Market and Securities-Price Exposure
The filing reports no material changes to the company’s market-risk disclosures from the 2025 Form 10-K, but the company remains exposed to unfavorable movements in interest rates and securities prices.
Management's outlook
No quantitative outlook or forward guidance was provided in the supplied 10-Q text; the filing states there were no material changes to market-risk disclosures from the 2025 Form 10-K.
Earlier filings 1
This is our reading of a public filing, not the filing itself. Analysis can contain errors; check the source document for full context.