Dafinchi AI

Apollo Global Management, Inc.

APO

2025 Q2

Financial Services

2mo

Financial Performance Summary

Apollo reported record fee-related earnings (FRE) of $627 million, a 22% year-over-year increase.
Assets under management (AUM) reached a record $840 billion, with fee-paying AUM at $638 billion, growing 22% year-over-year.
Athene's organic inflows of $21 billion marked the second highest quarter on record, driven by retail, funding agreements, and flow insurance.
Capital formation generated $61 billion of inflows in the quarter, including $40 billion from asset management and $21 billion from Athene.
Fee-related expenses grew 13% year-over-year, reflecting increased hiring and investment in growth priorities.
Management fee growth was 21% year-over-year, with record asset management capital solutions (ACS) fees of $216 million.
Second quarter retirement services earnings (SRE) were $821 million, with net invested assets growing 18% year-over-year to $275 billion.

Arthur J. Gallagher & Co.

AJG

2025 Q2

Financial Services

2mo

Financial Performance Summary

Brokerage segment revenue growth was 17%, organic growth 5.3%, adjusted EBITDAC margin expanded 334 basis points to 36.4%.
Completed 9 mergers in Q2 representing $290 million of estimated annualized revenue.
For combined Brokerage and Risk Management segments, posted 16% revenue growth, 5.4% organic growth, net earnings margin of 17.3%, adjusted EBITDAC margin of 34.5% up 307 basis points YoY, adjusted EBITDAC growth of 26%.
GAAP earnings per share of $2.11 and adjusted earnings per share of $2.95.
Reinsurance, wholesale and specialty businesses delivered nearly 7% organic growth, including 5% from Gallagher Re and over 7% from wholesale and specialty.
Retail operations delivered 4% organic growth; U.S. organic 5%, international operations around 3%.
Risk Management segment revenue growth was 9%, organic growth 6.2%, adjusted EBITDAC margin was 21%, better than June expectations.

Ares Management Corporation

ARES

2025 Q2

Financial Services

2mo

Quarterly AUM Growth

$572 billion

AUM increased to $572 billion, which represents quarter-over-quarter organic growth of 19% on an annualized basis.

The Goldman Sachs Group, Inc.

2025 Q3

Financial Services

Financial Performance Summary

Advisory revenues up 60% year over year to $1.4 billion, leading global M&A advisor.
Asset and Wealth Management revenues reached $4.4 billion, with record management fees of $2.9 billion.
Debt underwriting revenues rose 30%, reflecting higher leveraged finance activity.
Equity underwriting revenues increased 21% year over year, driven by IPO activity.
FICC net revenues of $3.5 billion, up 17% year over year, with strong rates and mortgages.
Global Banking & Markets revenues of $10.1 billion with a 17% ROE year to date.
Net revenues of $15.2 billion and earnings per share of $12.25 in Q3 2025.
Return on equity (ROE) of 14.2% for the quarter and 15.6% year to date.

American Express Company

AXP

2025 Q2

Financial Services

3mo

Financial Performance Summary

American Express reported record revenues of $17.9 billion, up 9% year over year in Q2 2025.
Capital position remains strong with CET1 ratio at 10%, stress capital buffer at the lowest permissible 2.5%, and ROE of 36%.
Delinquency rates remained flat and write-off rates declined, reflecting strong credit quality.
Earnings per share were $4.08, up 17% excluding last year's gain from the sale of the certified portfolio.
Net card fees reached record levels, up 20% FX adjusted, more than doubling since 2019.
Net interest income grew at a double-digit pace driven by balance sheet growth and margin expansion.
Operating expenses grew 9% excluding certified, driven by investments in risk management and technology, but operating leverage improved with expenses as a percentage of revenue down from 25% to 21%.
Reaffirmed full-year guidance of 8% to 10% revenue growth and EPS between $15 and $15.50.
Returned $2 billion to shareholders including $0.6 billion dividends and $1.4 billion share repurchases.
Total card member spending increased 7%, with strong growth in goods and services and restaurant spending, offset by softer airline and lodging spend.

Evercore Inc.

EVR

2025 Q2

Financial Services

2mo

Financial Performance Summary

Adjusted compensation ratio improved to 65.4%, down 60 basis points year-over-year, while adjusted noncompensation expenses rose 9% due to technology and occupancy costs.
Adjusted operating income was $157 million, a 37% increase versus Q2 2024, with adjusted EPS of $2.42, up 34% year-over-year.
Advisory fees increased 23% year-over-year to $698 million, a record for the quarter.
Asset Management and Administration Fees grew 3% to $21 million, driven by market appreciation and net inflows.
Cash and investment securities totaled over $1.7 billion as of June 30, with positive cash flow and $532 million returned to shareholders in the first half through buybacks and dividends.
Evercore delivered adjusted net revenues of $839 million in Q2 2025, up nearly 21% year-over-year, marking record revenues for both the quarter and first half of the year.
GAAP net revenues, operating income, and EPS were $834 million, $150 million, and $2.36 per share respectively in Q2 2025.
Share repurchases totaled approximately 1.7 million shares year-to-date at an average price of $258.5 per share, fully offsetting dilution from RSU grants.
Underwriting revenues rose 4% to $32 million, commissions and related revenue increased 10% to $58 million.

F&G Annuities & Life, Inc.

2025 Q2

Financial Services

2mo

Financial Performance Summary

Adjusted ROA on a last 12-month basis was 92 basis points, slightly up from 91 basis points in Q2 2024.
Adjusted ROE excluding AOCI was 8.8%, up 40 basis points over Q2 2024.
F&G reported adjusted net earnings of $103 million or $0.77 per share in Q2 2025.
Investment income from alternative investments was $83 million below management's long-term expected return.
Operating expenses to AUM before flow reinsurance decreased to 56 basis points from 61 basis points in Q2 2024.
Record AUM before flow reinsurance reached $69.2 billion, a 13% increase over Q2 2024.

Payoneer Global Inc.

PAYO

2025 Q2

Financial Services

2mo

Financial Performance Summary

Adjusted EBITDA was $66 million, representing a 25% margin despite a $7 million headwind from interest income, marking the fifth consecutive quarter of positive adjusted EBITDA excluding interest income.
Customer funds held increased 17% year-over-year to $7 billion, partially offsetting lower interest income due to rate declines.
Net income was $19 million, down from $32 million in the prior year quarter, with basic and diluted EPS at $0.05 versus $0.09 previously.
Operating expenses rose 19% driven by labor costs, transaction costs, acquisitions, and investments in card products and technology.
Payoneer reported Q2 2025 revenues of $261 million, up 9% year-over-year, with revenue excluding interest income reaching a record $202 million, up 16% year-over-year.
Transaction costs increased 10% to $41 million but decreased as a percentage of revenue excluding interest income, reflecting operational efficiencies.

Horace Mann Educators Corporation

HMN

2025 Q2

Financial Services

2mo

Financial Performance Summary

Horace Mann reported second quarter core earnings per share of $1.06, nearly tripling prior year results.
Individual Supplemental and Group Benefits segment contributed $13 million to core earnings, with record Individual Supplemental sales up 43% year-over-year.
Life and Retirement segment core earnings doubled to $25 million, driven by higher net investment income and lower mortality costs.
Net premiums and contract charges earned increased by 8%, with total revenues up 6%.
Property and Casualty segment core earnings improved by $25 million to $17 million, with a combined ratio of 97%, a 14.5-point improvement over prior year.

PRA Group, Inc.

PRAA

2025 Q2

Financial Services

2mo

Financial Performance Summary

Adjusted EBITDA grew 20% this quarter, outpacing the 13% growth in cash collections.
Cash collections grew 13% year-over-year to $536 million, driven by recent portfolio purchases and investments in the U.S. legal channel.
Ending ERC reached a record $8.3 billion, up 22% year-over-year and 6% sequentially.
Net income attributable to PRA was $42 million or $1.08 diluted EPS, including a $30 million after-tax gain from the sale of equity interest in Brazil's RCB; excluding this gain, net income was $13 million or $0.32 EPS.
Net interest expense increased by $7 million to $62 million due to higher debt balances.
Net leverage (net debt to adjusted EBITDA) was 2.81x, within the long-term target range of 2x to 3x.
Operating expenses were $203 million, up 4%, mainly due to higher professional services and legal collection costs.
Overall business overperformed by 7%, with Europe exceeding expectations by 14% and Americas by 3%.
PRA Group purchased $347 million of portfolios in Q2 2025, with $199 million in the Americas and $147 million in Europe.
Q2 U.S. legal cash collections increased 24% year-over-year to $119 million.
The 2025 purchase price multiple was 2.14x for Americas Core and 1.82x for Europe Core, continuing an upward trend over recent years.
The company repurchased $10 million of stock during the quarter, limited by debt covenant constraints.
Total portfolio revenue was $284 million, up 1%, with portfolio income up 20% to $251 million reflecting higher portfolio investments at elevated multiples.

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