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SEI Reports Third-Quarter 2020 Financial Results

21 October, 2020
clock 2 MIN READ

OAKS, Pa., Oct. 21, 2020 – SEI Investments Company (NASDAQ:SEIC) today announced financial results for the third-quarter 2020. Diluted earnings per share were $0.75 in third-quarter 2020 compared to $0.86 in third-quarter 2019. On Tuesday, Oct. 20, 2020 the Board of Directors of SEI Investments Company approved an increase in its stock repurchase program by an additional $250 million, increasing the available authorization under the program to approximately $292 million.

(In thousands, except
earnings per share)
For the Three Months
Ended September 30,
  For the Nine Months
Ended September 30,
  2020 2019 % 2020 2019 %
Revenues $424,927 $416,254 2% $1,240,335 $1,226,660 1%
Net income 111,096 132,168 (16)% 321,404 372,689 (14)%
Diluted earnings per share $0.75 $0.86 (13)% $2.14 $2.40 (11)%

“The pandemic continues, as does our focus on clients and our employees’ health and safety. We are fortunate to have a strong global workforce that is resilient, engaged and dedicated to providing our clients best-in-class service, and committed to our company’s growth. Words can’t express our appreciation for their efforts, along with all of the healthcare and service providers who look after our health and well-being,” said Alfred P. West, Jr., SEI Chairman and CEO.

“Our business continued to rebound during the quarter, as our markets adjusted to the current environment. Our financial results reflect our strong sales activity, while we invest in our strategic priorities. Our diverse and talented global workforce drives our ability to serve our clients and make an impact on our communities. Looking to the future, we will capitalize on the opportunities in our markets to deliver long-term value to our shareholders, employees and clients.”

Please read the full press release.

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