Financial services company SEI Investments Co. (SEIC) on Wednesday recorded higher earnings in the first quarter, helped by improved revenues and a net gain from investments. Earnings and revenues came in above the Street expectations.
The company posted first-quarter net income of $129.5 million, or $0.89 per share, up 19 percent from last year's $109.2 million, or $0.72 per share.
On average, 6 analysts polled by Thomson Reuters expected the company to report earnings of $0.88 per share in the quarter. Analysts' estimates usually exclude one-time items.
Quarterly revenues rose 10 percent to $455.7 million from $414.8 million in the year-ago quarter. Five analysts expected the company to report revenues of $455 million in the quarter.
The company recorded a net gain from investments of around $332 thousand during the first quarter, compared to a net loss of around $4 million in the prior-year period.
For comments and feedback contact: editorial@rttnews.com
Business News
May 15, 2026 15:25 ET Apart from the confirmation of Kevin Warsh as the next Fed chair, the main news on the economics front this week included key price data from the U.S. and the first quarter economic growth figures from major economies. Both consumer prices and producer costs have started to reflect the effect of supply shocks due to the Middle East conflict. In Europe, GDP data was in focus, while inflation data from China dominated the news flow in Asia.