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SEI Reports Second-Quarter 2020 Financial Results

July 22, 2020
clock 2 MIN READ

OAKS, Pa., July 22, 2020 – SEI Investments Company (NASDAQ:SEIC) today announced financial results for the second-quarter 2020. Diluted earnings per share were $0.68 in second-quarter 2020 compared to $0.82 in second-quarter 2019.

(In thousands, except
earnings per share)
For the Three Months
Ended June 30,
  For the Six Months
Ended June 30,
  2020 2019 % 2020 2019 %
Revenues $400,646 $409,586 (2)% $815,408 $810,406 1%
Net income 101,066 126,540 (20)% 210,308 240,521 (13)%
Diluted earnings per share $0.68 $0.82 (17)% $1.39 $1.54 (10)%

“While we and the rest of the world continue to cope with the pandemic, our employees’ health and safety remain our top priority as we move through our return-to-office plans. We are proud of our global workforce’s resilience as they manage the extended period of a remote workplace—all the while remaining totally committed to supporting and servicing our clients. We greatly appreciate the healthcare workers and others who help us deal with COVID-19’s impact on our lives,” said Alfred P. West, Jr., SEI Chairman and CEO.

“While financial markets somewhat rebounded during the quarter, we experienced headwinds that impacted our results. Our client engagement was high last quarter, resulting in positive sales activity. We continue to invest in our One SEI strategy, using this period to accelerate the necessary development work that will bring this initiative to its full potential.

“Our view of the future is not dampened by the challenges we all face in society today. Our diverse global workforce is the foundation of what will enable us to fulfill our promise of serving our clients and communities in which we work and live. Capitalizing on the opportunities in the markets we serve and the solutions we offer will lead to increased shareholder value.”

Please read the full press release.

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