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Price T Rowe Group 8-K Report, Financial Results (Jul 31, 2026)

Reports
Earnings & Results·Exhibits & Filings
Filing Date
Filed July 31, 2026
Period End
July 31, 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 · Jun ’19Jun ’19
  2. Deal closed8-K · Dec ’21Dec ’21
  3. Leadership change8-K · Oct ’25Oct ’25

01—Abstract

Summary

Summary of the 8-K filed July 31, 2026. Cited figures are marked; the original filing is the authoritative source.

T.

Rowe Price Group, Inc. (NASDAQ-GS: TROW) filed this Form 8-K under Item 2.02 to furnish its earnings release (Exhibit 99.1) reporting results for the three and six months ended June 30, 2026. The company reported U.S. GAAP net income attributable to T. Rowe Price Group, Inc. of $632.0 milliona, or $2.88 diluted EPS, for Q2 2026, up from $505.2 million and $2.24 in Q2 2025.

On an adjusted basis, diluted EPS was $2.57b, compared with $2.24 a year earlier. Ending assets under management rose to $1,893.4 billion, and net client outflows were $6.5 billion for the quarter. Net revenues were $1,907.4 million, up 10.7% year over year, while operating expenses rose 9.8% to $1,366.9 million.

The quarter's profit growth was supported largely by non-operating income of $369.1 millionc, compared with $235.5 million a year earlier, while adjusted net operating income rose 15.4% to $709.1 million. The release attributes the decline in adjusted non-operating income to portfolio rebalancing that reduced equity exposure in discretionary investments. The firm also noted that the investment advisory annualized effective fee rate excluding performance-based fees fell to 38.1 basis points from 39.6 basis points a year earlier, reflecting a mix shift toward lower-fee products and asset classes.

Management cited record AUM of $1.9 trilliond, positive flows in May and June, and continued growth in its ETF and SMA businesses. The company returned $441 million to stockholders through dividends and buybacks in the quarter, and it estimates its full-year 2026 effective tax rate will be in the range of 23.0% to 26.0%. The release states that the results are unaudited and that a Form 10-Q would be filed later the same day.

02—Key points

Key Highlights

  1. Q2 2026 U.S. GAAP diluted EPS of $2.88, up from $2.24 in Q2 2025; adjusted diluted EPS of $2.57 versus $2.24.
  2. Ending AUM of $1,893.4 billion, up from $1,676.8 billion at June 30, 2025; average AUM of $1,837.7 billion.
  3. Net client outflows of $6.5 billion in Q2 2026, with positive flows in May and June per management.
  4. Net revenues of $1,907.4 million, up 10.7% year over year, driven by investment advisory fees of $1,744.8 million (up 11.3%).
  5. Investment advisory annualized effective fee rate (excluding performance-based fees) of 38.1 basis points, down from 39.6 basis points a year earlier, due to mix shift toward lower-fee products.
  6. Operating expenses of $1,366.9 million, up 9.8%, including a $126.5 million market-related increase in deferred compensation liabilities and a $6.7 million restructuring charge.
  7. Returned $441 million to stockholders through the recurring quarterly dividend and stock repurchases.

03—Questions

Frequently Asked Questions

  1. How did T. Rowe Price perform in Q2 2026 on a GAAP versus adjusted basis?

    On a U.S. GAAP basis, net income attributable to T. Rowe Price Group, Inc. was $632.0 million, or $2.88 per diluted share. On an adjusted basis, net income was $565.0 million, or $2.57 per diluted share. The release reconciles the two, with the largest adjustments being non-operating gains on investments used to hedge deferred compensation liabilities and acquisition-related amortization.

  2. What drove the change in assets under management?

    Ending AUM rose $183.7 billion during Q2 2026 to $1,893.4 billion. Net market appreciation contributed $190.2 billion, while net client cash flows were negative $6.5 billion. Multi-asset AUM was $690.0 billion and equity AUM was $919.4 billion at June 30, 2026.

  3. Why did the fee rate decline?

    The investment advisory annualized effective fee rate, excluding performance-based fees, fell to 38.1 basis points from 39.6 basis points in Q2 2025. The company attributes the decline to client flows and transfers that shifted assets toward lower-fee products and asset classes, partially offset by market appreciation.

  4. What was the outlook for taxes and expenses?

    The firm estimates its full-year 2026 effective tax rate, on both a U.S. GAAP and adjusted basis, will be in the range of 23.0% to 26.0%. The release also notes a broad, ongoing expense management program under which the firm is reducing expense growth, and it recorded a $6.7 million restructuring charge in Q2 2026.

04—Continue

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