$IVZ · Invesco Ltd.
Invesco reported Q3 FY2026 results with adjusted diluted EPS of $0.72 on net revenues of $1,381.7 million. Ending AUM rose to $2,537.8 billion, supported by $35.1 billion in net long-term inflows. GAAP diluted EPS was $0.65, down 14.5% sequentially, while adjusted operating margin reached 40.7%.
- Ending AUM reached $2,537.8 billion, up 2.7% sequentially and 19.4% year-over-year.
- Net long-term inflows were $35.1 billion, marking the 13th consecutive quarter of positive net long-term flows.
- Adjusted operating margin expanded to 40.7% from 37.5% in Q2 2026 and 34.2% in Q3 2025.
- GAAP net income fell 14.7% sequentially to $294.5 million, driven by a $43.7 million swing in deferred compensation mark-to-market.
- Repurchased $1.5 billion of Series A Preferred Stock from MassMutual on October 26, 2026, funded via a new $1.5 billion floating-rate term loan.
Markets closed — no regular-session reaction yet; extended-hours move not captured here.
Invesco's 13th straight quarter of net long-term inflows and 40.7% adjusted margin signal operating momentum, but the $1.5 billion debt-funded preferred buyback reshapes the capital structure.
Invesco's 6.3% annualized organic growth rate and 40.7% adjusted operating margin compare favorably to traditional asset managers facing fee compression. The QQQ franchise and ETF/Index flows continue to drive the growth narrative.
GAAP net income declined 14.7% sequentially due to volatile deferred compensation mark-to-market swings ($43.7 million delta). The $1.5 billion preferred stock buyback adds floating-rate debt exposure, increasing interest-rate sensitivity.