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Price T Rowe Group 8-K Report, Financial Results (Apr 30, 2026)

Reports
Earnings & Results·Exhibits & Filings
Filing Date
Filed April 30, 2026
Period End
April 30, 2026
Security
TROW
In the record · 2016–202610-K1110-Q338-K83

TROW filed 11 annual reports (10-K), 33 quarterly reports (10-Q) and 83 current reports (8-K) between 2016 and 2026.

  1. Leadership change8-K · Apr ’22Apr ’22
  2. Leadership change8-K · Oct ’24Oct ’24

01—Abstract

Summary

Summary of the 8-K filed April 30, 2026. Cited figures are marked; the original filing is the authoritative source.

T.

Rowe Price Group, Inc. (NASDAQ-GS: TROW) furnished this Form 8-K on April 30, 2026 under Item 2.02, attaching its earnings release reporting results for the three months ended March 31, 2026. U.S. GAAP diluted EPS was $2.23a, up from $2.15 in Q1 2025 and $1.99 in Q4 2025, and adjusted diluted EPS was $2.52, compared with $2.23 a year earlier. Net revenues were $1,857.0 million, up 5.3% from Q1 2025 and down 4.0% from Q4 2025.

Ending AUM was $1.7 trillionb ($1,709.7 billion), down $65.9 billion during the quarter, driven by net client outflows of $13.7 billion and net market depreciation and income of $52.2 billion. Investment advisory fees rose 5.3% year over year to $1,683.0 million, led by multi-asset fees up 12.0%. The annualized effective fee rate excluding performance-based fees fell to 38.4 basis points from 40.0 basis points a year earlier, which the company attributed to a mix shift toward lower-fee products and asset classes.

U.S. GAAP operating expenses were $1,176.5 millionc, including a $10.0 million restructuring charge tied to the ongoing expense management program, and net operating income was $680.5 million. Non-operating results were a loss of $48.3 million, compared with income of $70.7 million in Q1 2025. The company returned $629 million to stockholders through dividends and stock repurchases during the quarter.

Its full-year 2026 effective tax rate estimate is 23.0%d to 26.0% on both U.S. GAAP and adjusted bases. The release notes that the financial results are unaudited and that the Form 10-Q was expected to be filed later the same day.

02—Key points

Key Highlights

  1. Diluted EPS was $2.23 on a U.S. GAAP basis and $2.52 on an adjusted basis, versus $2.15 and $2.23 in Q1 2025.
  2. Ending AUM was $1,709.7 billion, down $65.9 billion in the quarter, with net client outflows of $13.7 billion and net market depreciation and income of $52.2 billion.
  3. Net revenues of $1,857.0 million rose 5.3% year over year but fell 4.0% from Q4 2025.
  4. The annualized effective fee rate excluding performance-based fees declined to 38.4 basis points from 40.0 basis points in Q1 2025, reflecting a mix shift toward lower-fee products.
  5. U.S. GAAP operating expenses were $1,176.5 million, including a $10.0 million restructuring charge; adjusted operating expenses were $1,155.2 million.
  6. Non-operating income was a loss of $48.3 million on a U.S. GAAP basis, compared with income of $70.7 million in Q1 2025.
  7. The company returned $629 million to stockholders through dividends and stock repurchases and expects a full-year 2026 effective tax rate of 23.0% to 26.0%.

03—Questions

Frequently Asked Questions

  1. How did T. Rowe Price perform in the first quarter of 2026?

    The company reported U.S. GAAP diluted EPS of $2.23 and adjusted diluted EPS of $2.52, with net revenues of $1,857.0 million, up 5.3% from Q1 2025 but down 4.0% from Q4 2025.

  2. Why did assets under management decline during the quarter?

    AUM fell $65.9 billion to $1,709.7 billion. Net client outflows were $13.7 billion, and net market depreciation and income was $52.2 billion, mainly from equity assets, which fell $68.0 billion in the period.

  3. What drove the change in fee rate?

    The effective fee rate excluding performance-based fees was 38.4 basis points, down from 40.0 basis points a year earlier. The company said client flows and transfers shifted assets toward lower-fee products and asset classes, partly offset by market appreciation.

  4. Did the company incur restructuring costs?

    Yes. The company recorded a $10.0 million restructuring charge in Q1 2026, mainly for severance, under its previously announced broad and ongoing expense management program. Excluding this charge, adjusted operating expenses were $1,155.2 million.

  5. How much did the company return to shareholders?

    The company returned $629 million to stockholders during the quarter through its recurring quarterly dividend and stock repurchases.

04—Continue

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