Invesco Reports Q3 2026 Financial Results and $1.5B Preferred Stock Repurchase

Executive Summary

On October 27, 2026, Invesco Ltd. (NYSE: IVZ) filed a Form 8-K under Item 2.02 (Results of Operations and Financial Condition), announcing its financial and operating results for the third quarter ended September 30, 2026.

Key Financial Highlights

• Diluted EPS: Reported GAAP diluted earnings per share of $0.65, compared to $0.76 in Q2 2026 and $0.66 in Q3 2025. Adjusted diluted EPS was $0.72, up from $0.71 in Q2 2026 (+1.4%) and $0.61 in Q3 2025 (+18.0%).
• Operating Revenues & Net Revenues: GAAP operating revenues reached $1,873.2 million, up 2.6% sequentially and 14.2% year-over-year. Adjusted net revenues were $1,381.7 million, representing a 4.0% sequential increase and a 16.5% year-over-year increase.
• Operating Margins:
  • GAAP Operating Margin reached 23.3%, an expansion of 340 basis points from 19.9% in Q2 2026.
  • Adjusted Operating Margin expanded to 40.7%, up 320 basis points from 37.5% in Q2 2026 and up 650 basis points from 34.2% in Q3 2025.
• Net Income Attributable to Invesco: GAAP net income was $294.5 million compared to $345.3 million in Q2 2026. Adjusted net income rose to $326.4 million, up 1.3% sequentially and 18.5% year-over-year.

Assets Under Management (AUM) & Flow Dynamics

• Total Ending AUM: Reached $2,537.8 billion ($2.54 trillion), a 2.7% sequential increase from $2,470.3 billion at the end of Q2 2026.
• Net Flows:
  • Net Long-Term Inflows: $35.1 billion for Q3 2026 (marking the 13th consecutive quarter of positive long-term net inflows), compared to $45.1 billion in Q2 2026.
  • By Channel: Retail net inflows were $41.7 billion, while institutional clients saw net outflows of $6.6 billion.
  • By Capability: Driven by inflows in ETFs and Index ($28.5B), QQQ ($6.7B), Multi-Asset/Other ($3.3B), and China JV ($1.5B), offset by outflows in Fundamental Fixed Income ($2.6B), Fundamental Equities ($1.9B), and Private Markets ($0.4B).
  • Money Market: Inflows of $52.9 billion.
  • Total Net Flows: Reached $88.5 billion.

Capital Allocation & Balance Sheet Updates

• Preferred Stock Repurchase: On October 26, 2026, Invesco repurchased $1.5 billion of its outstanding Series A Preferred Stock held by MassMutual, financed via a new $1.5 billion five-year floating-rate bank term loan. Total preferred repurchases now equal $3.0 billion over the past 18 months, leaving $1.0 billion remaining.
• Common Share Repurchases: Repurchased 2.1 million common shares for $65 million during the quarter.
• Net Debt: Reduced net debt by $393 million during the quarter.