Virtus Investment Q3 earnings fall short as net outflows stay high

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Virtus Investment Partners (NYSE:VRTS [https://seekingalpha.com/symbol/VRTS]) shares slid 2.4% after the asset manager's third-quarter earnings came in worse than expected as net outflows persisted, although revenue beat

Q3 adjusted EPS [https://seekingalpha.com/pr/20278744-virtus-investment-partners-announces-financial-results-for-third-quarter-2025] of $6.69, missing the $6.77 average analyst estimate, rose from $6.25 in the prior quarter and fell from $6.92 in Q3 2024.

Revenue of $216.4M, surpassing the $197.2M expected, advanced from $191M in Q2 and retreated from $227.0M in the year-ago period.

Net outflows were $3.9B in Q3, unchanged from the prior quarter and up from the $1.7B of net outflows recorded a year before. Market performance and positive net flows in exchange-traded funds were more than offset by net outflows in other products during the quarter.

Total assets under management were $169.3B at Sept. 30, 2025, down slightly from $170.7B in Q2 and -8% Y/Y.

Total operating expenses, as adjusted, of $131.7M in Q3 vs. $131.2M in Q2 and $134.7M in Q3 2024.

MORE ON VIRTUS INVESTMENT

* Virtus Investment Partners reports August AUM of $170.63B [https://seekingalpha.com/news/4494035-virtus-investment-partners-reports-august-aum-of-17063b]
* Virtus Investment Partners reports July AUM of $170.8B [https://seekingalpha.com/news/4483776-virtus-investment-partners-reports-july-aum-of-1708b]
* Seeking Alpha’s Quant Rating on Virtus Investment [https://seekingalpha.com/symbol/VRTS/ratings/quant-ratings]
* Historical earnings data for Virtus Investment [https://seekingalpha.com/symbol/VRTS/earnings]
* Dividend scorecard for Virtus Investment [https://seekingalpha.com/symbol/VRTS/dividends/scorecard]