SEIC - SEI Investments Q1 earnings beat on market appreciation positive cash flows

SEI investments (NASDAQ:SEIC) first-quarter results topped the average analyst estimates as revenues rose from higher assets under management and administration due to market appreciation in 2021 as well as positive client cash flows. "Our first-quarter financial profits were challenged by negative capital markets, but we achieved solid sales results and successfully implemented new business," said Alfred P. West, Jr., CEO and chairman. Q1 revenue of $581.44M beat the $560.41M consensus and jumped from $455.68M in the first quarter of last year. Income from operations were $214.79M in Q1, up from $132.83M in the year-ago period. Average AUA of $893.4B in Q1 expanded from $821.6B in Q1 2021. Average AUM was $13.2B in Q1 compared with $280.4B in Q1 of last year. Q1 expenses of $366.64M vs. $322.84M in Q1 2021. Conference call at 4:30 PM ET. In the beginning of April, SEI Investments named a new CEO.

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SEI Investments Q1 earnings beat on market appreciation, positive cash flows