Analyst Consensus ?
ConsensusHold28 ratings
Bullish1242.9%
Neutral1657.1%
Bearish00.0%
Invesco Ltd. · IVZ · FY2026 Q1 · Calendar Q2 2026
Invesco Q1 2026: $21.8B Inflows, Margins Climb to 34.5%, EPS Slightly Misses
Invesco extended its net-inflow streak to 11 consecutive quarters with $21.8 billion of net long-term inflows, while operating margin expanded 500 bps year-over-year to 34.5%. EPS of $0.57 and revenue of $1.264 billion came in fractionally below consensus — a 1.2% EPS miss and 0.3% revenue miss — yet the market responded positively, with shares gaining 1.5% on the report and drifting 6.8% higher in the weeks that followed. The Nasdaq licensing expansion for two additional Nasdaq-100-tracking ETFs strengthens the QQQ franchise, and AI tooling now reaches roughly 80% of the firm's 7,500 employees. At $29.42, the stock trades about 4% below the analyst consensus target of $30.60. Management maintained full-year guidance and expressed confidence in the hybrid platform rollout, private-market partnerships, and capital return trajectory.
Reported Before market openNYSEFinancial Services
$13.04B market cap
100quality score
Earnings scorecard
Reported versus consensus
Reported EPS
$0.57
Consensus $0.58
EPS surprise
-1.2%
Reported versus consensus
Reported revenue
$1.26B
Consensus $1.27B
Revenue surprise
-0.3%
Reported versus consensus
Market reaction
prior-close to event-session close
Stock move
+1.5%
Event window
SPY move
-0.5%
Same window
Abnormal move
+2.0%
Stock minus SPY
Volume
1.7×
Versus trailing sessions
Subsequent drift
+6.8%
Up to 20 sessions
IVZSPY benchmark
Ask FN2 about IVZ FY2026 Q1
Transcript, numbers and history already loaded
Why did IVZ rise 1.5% after missing EPS estimates in FY2026 Q1?What changed in IVZ's guidance and outlook in FY2026 Q1?Give me the bull and bear case for IVZ after FY2026 Q1 earnings.
Free account. Your question opens in FN2 with this report's transcript and numbers attached.
Transcript intelligence
What changed
Net long-term inflows accelerated from $19.0 billion in Q4 2025 to $21.8 billion in Q1 2026. Operating margin improved to 34.5%, delivering 500 bps of operating leverage year-over-year. Nasdaq expanded its licensing agreement to permit two additional U.S.-listed ETFs tracking the Nasdaq-100, a structural enhancement to the QQQ ecosystem. The share repurchase program was increased to $40 million per quarter with a $1 billion authorization for 2026. AI tooling adoption was disclosed as reaching approximately 80% of employees, a new data point. The prior quarter's major divestitures (Intelliflo, Indian business stake, Canadian mutual-fund platform) were not repeated, and no new acquisitions were announced.
Guidance delta
Management maintained its full-year 2026 outlook, including the $10-15 million per quarter hybrid investment platform implementation cost, the target operating margin in the high-30% range once implementation costs taper after 2026, and a ~60% total payout ratio. No upward or downward revision was indicated.
Key takeaways
- Net long-term inflows of $21.8 billion marked the 11th consecutive quarter of positive net flows
- Operating margin improved to 34.5%, a 500 bps year-over-year gain from operating leverage
- EPS of $0.57 missed consensus by 1.2%; revenue of $1.264 billion missed by 0.3% — marginal shortfalls
- Nasdaq expanded licensing to allow two additional U.S.-listed ETFs to track the Nasdaq-100
- Share repurchase authorization increased to $1 billion for 2026, with $40 million targeted quarterly
- AI tools now used by approximately 80% of Invesco's 7,500 employees
Management priorities
- Complete the hybrid investment platform implementation by end of 2026
- Expand ETF offerings, including QQQ lineup extensions in Hong Kong and Japan
- Roll out AI-driven tools across investment research, client communications, and operations
- Deepen private-market partnerships with Barings, LGT Capital, and the Canadian CI sub-advisory relationship
- Return capital to shareholders via repurchases and dividend, targeting ~60% payout ratio for 2026
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Beat
Miss
Match
Analyst 52W Price Targets
$29.02Current
$17Low
$28.95Average
$36High
Latest persisted target per named analyst; persisted current price from FN2's market snapshot as of Oct 30, 2026. Not an FN2 forecast.
Firm-level rating actions
FMP grade actions identify the grading firm, not a named analyst.
| Firm | Rating | Prior rating | Action | Date |
|---|---|---|---|---|
| Barclays | Equal Weight | Equal Weight | Maintain | Oct 28, 2026 |
| Morgan Stanley | Equal Weight | Equal Weight | Maintain | Oct 22, 2026 |
| BMO Capital | Outperform | Outperform | Maintain | Oct 13, 2026 |
| TD Cowen | Buy | Buy | Maintain | Oct 12, 2026 |
| RBC Capital | Outperform | Outperform | Maintain | Oct 9, 2026 |
| Evercore ISI Group | In Line | In Line | Maintain | Oct 9, 2026 |
| JP Morgan | Neutral | Neutral | Maintain | Jul 29, 2026 |
| Goldman Sachs | Neutral | Neutral | Maintain | Apr 29, 2026 |
| Argus Research | Buy | Buy | Maintain | Jan 28, 2026 |
| Deutsche Bank | Buy | Hold | Upgrade | Dec 17, 2025 |
| B of A Securities | Neutral | Neutral | Maintain | Oct 2, 2025 |
| Citigroup | Neutral | Neutral | Maintain | Sep 29, 2025 |
| Wells Fargo | Equal Weight | Underweight | Upgrade | Jul 11, 2025 |
| UBS | Neutral | Neutral | Maintain | Feb 3, 2025 |
| Keefe, Bruyette & Woods | Market Perform | Market Perform | Maintain | Jan 29, 2025 |
| Credit Suisse | Neutral | Underperform | Upgrade | Mar 29, 2023 |
| Jefferies | Hold | Buy | Downgrade | Jun 7, 2019 |
| Keefe Bruyette & Woods | Market Perform | Outperform | Downgrade | Jul 13, 2018 |
| Argus | Buy | Buy | Maintain | May 5, 2018 |
| Bank of America | Neutral | Buy | Downgrade | Jan 8, 2018 |
| Keefe, Bruyette& Woods | Perform | Outperform | Downgrade | Dec 12, 2016 |
| Susquehanna | Positive | Positive | Maintain | Sep 3, 2015 |
| PiperJaffray | Overweight | Overweight | Maintain | Jun 3, 2015 |
| Sterne Agee | Buy | Neutral | Upgrade | Jan 7, 2015 |
| Evercore Partners | Equal Weight | Equal Weight | Maintain | Jul 10, 2013 |
| Nomura | Buy | Buy | Maintain | May 1, 2013 |
| Stifel Nicolaus | Buy | Buy | Maintain | Feb 1, 2013 |
| Stifel | Buy | Buy | Maintain | Feb 1, 2013 |
Named analyst price targets
Upside is calculated against the persisted current price $29.02. FMP does not supply a rating on these named-analyst rows.
| Firm | Analyst | 52W target | Price when posted | Upside | Date |
|---|---|---|---|---|---|
| UBS | Analyst unavailable | $36 | $28.8 | +24.1% | Oct 13, 2026 |
| RBC Capital | Analyst unavailable | $36 | $29.68 | +24.1% | Oct 9, 2026 |
| Evercore ISI | Analyst unavailable | $34 | $29.69 | +17.2% | Oct 9, 2026 |
| UBS | Analyst unavailable | $41 | $30.38 | +41.3% | Oct 6, 2026 |
| Morgan Stanley | Michael Cyprys | $31 | $30.68 | +6.8% | Sep 25, 2026 |
| RBC Capital | Analyst unavailable | $39 | $32.02 | +34.4% | Aug 13, 2026 |
| Evercore ISI | Analyst unavailable | $35 | $32.05 | +20.6% | Aug 10, 2026 |
| Barclays | Analyst unavailable | $32 | $29.43 | +10.3% | Jul 29, 2026 |
| Barclays | Analyst unavailable | $31 | $28.4 | +6.8% | Jul 14, 2026 |
| Evercore ISI | Analyst unavailable | $32 | $29.08 | +10.3% | Jul 10, 2026 |
| Evercore ISI | Analyst unavailable | $31 | $27.79 | +6.8% | Jun 8, 2026 |
| Goldman Sachs | Alexander Blostein | $30 | $25.88 | +3.4% | Apr 29, 2026 |
| Barclays | Analyst unavailable | $26 | $25.88 | -10.4% | Apr 29, 2026 |
| RBC Capital | Kenneth Lee | $31 | $24.95 | +6.8% | Apr 21, 2026 |
| Evercore ISI | Analyst unavailable | $27 | $23.63 | -7.0% | Apr 10, 2026 |
| BMO Capital | Analyst unavailable | $28 | $23.63 | -3.5% | Apr 10, 2026 |
| RBC Capital | Kenneth Lee | $33 | $27.76 | +13.7% | Jan 28, 2026 |
| Cowen & Co. | Analyst unavailable | $34.5 | $27.28 | +18.9% | Jan 28, 2026 |
| Argus Research | Stephen Biggar | $31 | $27.26 | +6.8% | Jan 28, 2026 |
| Goldman Sachs | Analyst unavailable | $29.5 | $27.16 | +1.7% | Jan 28, 2026 |
| Barclays | Analyst unavailable | $29 | $27.16 | -0.1% | Jan 28, 2026 |
| Morgan Stanley | Analyst unavailable | $29 | $28.4 | -0.1% | Jan 26, 2026 |
| RBC Capital | Kenneth Lee | $35 | $28.95 | +20.6% | Jan 21, 2026 |
| Goldman Sachs | Alexander Blostein | $28.75 | $28.25 | -0.9% | Jan 15, 2026 |
| Barclays | Benjamin Budish | $30 | $28.25 | +3.4% | Jan 15, 2026 |
| Goldman Sachs | Alexander Blostein | $28.25 | $28.16 | -2.7% | Jan 6, 2026 |
| Morgan Stanley | Analyst unavailable | $28 | $26.82 | -3.5% | Dec 17, 2025 |
| Deutsche Bank | Analyst unavailable | $31 | $26.03 | +6.8% | Dec 17, 2025 |
| Barclays | Benjamin Budish | $28 | $26.99 | -3.5% | Dec 12, 2025 |
| BMO Capital | Analyst unavailable | $30 | $26.54 | +3.4% | Dec 10, 2025 |
| Goldman Sachs | Analyst unavailable | $25.5 | $23.81 | -12.1% | Nov 25, 2025 |
| Fundamental Research | Analyst unavailable | $27 | $23.66 | -7.0% | Oct 31, 2025 |
| RBC Capital | Kenneth Lee | $25 | $24.02 | -13.9% | Oct 30, 2025 |
| Goldman Sachs | Analyst unavailable | $26.5 | $24.35 | -8.7% | Oct 29, 2025 |
| Barclays | Analyst unavailable | $24 | $22.84 | -17.3% | Oct 21, 2025 |
| Morgan Stanley | Analyst unavailable | $26 | $23.98 | -10.4% | Oct 6, 2025 |
| Evercore ISI | Glenn Schorr | $24 | $21.99 | -17.3% | Sep 5, 2025 |
| Wells Fargo | Michael Brown | $18 | $17.43 | -38.0% | Jul 11, 2025 |
| Barclays | Benjamin Budish | $19 | $18.04 | -34.5% | Oct 23, 2024 |
| Wells Fargo | Michael Brown | $16 | $15.8 | -44.9% | Sep 11, 2024 |
| RBC Capital | Kenneth Lee | $16 | $14.52 | -44.9% | Apr 25, 2024 |
| Deutsche Bank | Brian Bedell | $17 | $16.53 | -41.4% | Apr 5, 2024 |
| Morgan Stanley | Analyst unavailable | $23 | $18.96 | -20.7% | Apr 27, 2022 |
| Deutsche Bank | Brian Bedell | $24 | $19.03 | -17.3% | Apr 27, 2022 |
| Morgan Stanley | Analyst unavailable | $25 | $20.39 | -13.9% | Apr 25, 2022 |
| RBC Capital | Kenneth Lee | $23 | $21.41 | -20.7% | Jan 24, 2022 |
| Barclays | Jeremy Campbell | $25 | $26.29 | -13.9% | Apr 30, 2021 |
| Argus Research | Stephen Biggar | $33 | $26.51 | +13.7% | Apr 28, 2021 |
| Wells Fargo | Christopher Harris | $25 | $25.23 | -13.9% | Apr 13, 2021 |
Track every rating change on IVZ the moment it posts. Free to start.
Start freeCompany context
Snapshot as of publicationInvesco Ltd. engages in the investment management business. Its products include mutual funds, unit trusts, exchange-traded funds, closed-end funds, and retirement plans. The company was founded in December 1935 and is headquartered in Atlanta, GA.
Historical context
All IVZ earningsFinancial Services peers this season
Latest reports in the same sector| Company | Quarter | EPS surprise | Market move | Headline |
|---|---|---|---|---|
| AMP Ameriprise Financial, Inc. | FY2026 Q3 · Calendar Q4 2026 | -4.3% | +1.7% | Ameriprise posts strong Q3 as AI investment and advisor growth accelerate |
| MA Mastercard Incorporated | FY2026 Q3 · Calendar Q4 2026 | — | +4.2% | Mastercard: Resilient Q3 growth, with execution risks in new payments |
| OWL Blue Owl Capital Inc. | FY2026 Q3 · Calendar Q4 2026 | — | +7.7% | Blue Owl posts strong growth as fundraising and pipelines expand |
| KB KB Financial Group Inc. | FY2026 Q3 · Calendar Q4 2026 | — | -0.7% | KB Financial posts strong Q3 profit as NIM remains under pressure |
| ARES Ares Management Corporation | FY2026 Q3 · Calendar Q4 2026 | — | +2.9% | ARES Q3: Fundraising and digital infrastructure remain key growth drivers |
| WTW Willis Towers Watson Public Limited Company | FY2026 Q3 · Calendar Q4 2026 | — | -0.3% | WTW posts Q3 growth while lowering full-year organic outlook |
Latest beats and misses
Who reports nextBeat on EPS
- GFLFY2026 Q3 · October 28, 2026+2.2% EPS+3.3% move
- KIM-PLFY2026 Q3 · October 29, 2026+101.6% EPS— move
- MRKFY2026 Q3 · October 29, 2026+19.1% EPS+3.8% move
- DRSFY2026 Q3 · October 29, 2026+30.0% EPS+11.7% move
- TYLFY2026 Q3 · October 28, 2026+1.1% EPS+3.6% move
- EHCFY2026 Q3 · October 28, 2026+11.8% EPS+7.7% move
Get the IVZ recap when the next report posts
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Sources
- Earnings call transcript and parsed analysis · 2026-05-11T10:29:34.698584+00:00
- FN2 earnings calendar · 2026-07-26T00:37:12.209961+00:00
- Polygon adjusted daily market bars · 2026-07-31T12:42:25.941602+00:00
- Financial Modeling Prep analyst price-target consensus and quote snapshot · 2026-07-31T12:42:25.938738+00:00
Methodology
Reported and consensus figures come from FN2's earnings event records. Market reaction and volume are calculated from daily adjusted bars around the event; abnormal move subtracts the SPY move over the same window.
Analyst target low, average, and high values are derived at request time from each named analyst's latest persisted FMP target. The current-price marker comes from FN2's persisted market snapshot. They are sell-side estimates, not an FN2 valuation or recommendation.
Transcript intelligence is a structured synthesis of the current and prior earnings-call analyses. Missing values stay missing and are never estimated.
By FN2 Research · Updated · As of 2026-07-31. For educational purposes only; not investment advice.