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EarningsQ2 2026 Earnings Report
VCTR Q2 2026 EPS Results
Actual EPS$2.21
Consensus EPS$1.79
Beat/MissBeat by +$0.42
One Year Ago EPS$1.57
VCTR Q2 2026 Revenue Results
Actual Revenue$443.70M
Expected Revenue$386.09M
Beat/MissBeat by +$57.61M
YoY Revenue Growth+24.72%
Earnings Announcement Details
QuarterQ2 2026
Date08/05/2026
TimeAfter Close
Conference CallWednesday, August 5, 2026
VCTR Upcoming Earnings
Victory Capital Holdings's next earnings date is estimated for October 29, 2026, based on past reporting schedules.
Q2 2026 Earnings Call Audio
VCTR Q2 2026 Earnings Call
0:00 / 0:00
Q2 2026 Earnings Slide Deck
Q2 2026 Earnings Call Summary
Earnings Call Sentiment|Positive
The call communicated a strongly positive operational and financial quarter with multiple records (AUM, revenue, adjusted EBITDA, EPS) and clear evidence of sustained organic flow momentum, ETF growth, strong investment performance, and full realization of acquisition synergies. Management increased long-term margin guidance and emphasized a large international footprint via the Amundi partnership and a sizeable won-but-not-funded pipeline. Minor cautions include episodic revenue items that can cause quarterly variability, limited quantification of the won-but-not-funded pipeline, modest scale to date in distributing Amundi products in the U.S., and a relatively low cash balance on the balance sheet. Overall the positives substantially outweigh these manageable items.Company Guidance
Record Quarter Across Key Financial Metrics
Q2 2026 revenue $435.4M (+12% QoQ, +24% YoY); adjusted EBITDA $242.7M with margin 55.8% (record); adjusted net income with tax benefit $182.9M or $2.21 per diluted share (+21% QoQ, +41% YoY).
Strong Asset Growth and AUM
Total client assets $346.1B at quarter end (+11% from Q1, +15% YoY); record average AUM $331B. Long-term gross flows $22.1B (up 17% QoQ, +43% YoY) and record net long-term inflows $4.2B.
ETF Platform Momentum
ETF AUM $23.2B (up 24% YTD, +54% YoY); ETF net flows $1.2B in Q2 and $2.5B YTD, representing ~27% annualized organic growth. Flagship VFLO AUM $7.8B and VFLO earned Morningstar 5-star rating.
Investment Performance Strength
Morningstar: 57 mutual funds/ETFs earned 4- or 5-star ratings (60% of rated AUM). AUM outperformance vs. benchmarks: 71% (1-year), 68% (3-year), 65% (5-year), 81% (10-year); strategy-level outperformance also broad (64-69% across periods).
Pioneer Integration and Cost Synergies Realized
Pioneer integration complete; full $110M net run-rate expense synergies fully realized within 5 quarters, contributing to improved margins and operating leverage.
International Distribution Progress via Amundi
International AUM $62.6B across 61 countries; Amundi partnership trending above initial expectations, net flow positive quarter-to-date and cumulatively since Pioneer close; 35 countries now >$100M in Victory AUM.
Capital Returns and Balance Sheet Actions
Q2 share repurchases 1.1M shares; returned $138M to shareholders in Q2; YTD repurchases 3.2M shares (more than all of 2025); regular quarterly dividend declared $0.50/share; net leverage ratio 1.0x adjusted EBITDA; Term Loan B repriced, reducing annual interest expense by ~$2.5M.
Updated Long-Term Profitability Target
Long-term adjusted EBITDA margin guidance increased from 49% to 50%, reflecting demonstrated earnings power and completed integration; management remains committed to continued investments while preserving a 50% normalized margin target.
VCTR Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed