T. Rowe Price Q3 FY2026: $2.79 EPS as $28.3 billion exits
T. Rowe Price beat on adjusted EPS ($2.86 versus a $2.7033 consensus) and grew revenue 5.9% to $2.00 billion, yet $28.3 billion of client money left and the fee rate slipped to 37.8 basis points. Read the operating line and the flow line together: the cost machine is working, the asset-gathering machine is not.
1 · Expected vs. Actual
Free preview belowGAAP EPS of $2.79 trailed last year's $2.87 even though net operating income jumped 19.7% to $769.8 million, because a $238.4 million non-operating gain a year ago shrank to $17.6 million. Adjusted EPS of $2.86 rose 1.8% from $2.81 and cleared the $2.7033 consensus, helped by a diluted share count of 213.6 million versus 219.7 million. Note that share repurchases were just $0.1 million this quarter against $285.3 million of dividends.
Revenue rose 5.9% to $2.00 billion from $1.89 billion a year earlier and 5.1% from $1.91 billion in Q2 2026. The increase came from average AUM of $1,887.2 billion (up 9.5%) and $59.9 million of capital allocation-based income, not from client flows. Administrative, distribution and servicing fees actually fell 3.5% to $141.3 million.
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Figures on this page come from the company's original SEC filings. The analysis is generated automatically and checked against validation rules, but may still contain errors or omissions. Not investment advice. · Generated 2026-11-03
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