Q1 25 EPS
$0.75
BEAT +4.17%
Est. $0.72
Q1 25 Revenue
$134.5M
MISS 5.26%
Est. $141.9M
vs S&P Since Q1 25
-31.7%
TRAILING MARKET
CNS +7.6% vs S&P +39.4%
Market Reaction
Did CNS Beat Earnings? Q1 2025 Results
Cohen & Steers posted a mixed first quarter for 2025, beating on the bottom line while falling short on revenue, as lower average assets under management and two fewer calendar days weighed on the top line. Adjusted diluted EPS of $0.75 cleared the $… Read more Cohen & Steers posted a mixed first quarter for 2025, beating on the bottom line while falling short on revenue, as lower average assets under management and two fewer calendar days weighed on the top line. Adjusted diluted EPS of $0.75 cleared the $0.72 consensus estimate by 4.17%, while revenue of $134.47 million trailed the $141.94 million analyst expectation by 5.26%, though it still represented 6.2% growth from the year-ago period. The sequential softness was compounded by the absence of $1.40 million in performance fees that had lifted Q4 2024 results. On the asset side, total AUM grew 2.1% from year-end to $87.58 billion, supported by $222.00 million in net inflows and $2.14 billion in market appreciation, with global listed infrastructure emerging as the standout, climbing 10.4% sequentially to $9.71 billion. The adjusted operating margin narrowed modestly to 34.7%, reflecting higher general and administrative expenses, though a lower effective tax rate of 19.5% offered some cushion to the bottom line.
Key Takeaways
- • Net inflows of $222 million drove AUM growth alongside $2.1 billion in market appreciation
- • Open-end funds generated $585 million in net inflows, led by U.S. real estate and global/international real estate
- • Global listed infrastructure AUM grew 10.4% sequentially with $586 million in net inflows
- • Improved fee rates due to product mix partially offset lower average AUM and fewer days in the quarter
- • Lower effective tax rate of 19.5% (vs. 21.7% in Q4 2024) due to excess tax benefits from RSU vesting
CNS YoY Financials
Q1 2025 vs Q1 2024, source: SEC Filings
CNS Revenue by Segment
With YoY comparisons, source: SEC Filings
CNS Earnings Trends
CNS vs Market 30 Day Price Reactions
30-day stock return vs benchmark after each earnings
CNS EPS Trend
Earnings per share: estimate vs actual
CNS Revenue Trend
Quarterly revenue: estimate vs actual
CNS Quarterly Results
6 quarters of earnings data
| Quarter | EPS Est. | EPS Act. | Surprise | Revenue | Rev. Surprise |
|---|---|---|---|---|---|
| Q1 26 MISS | $0.82 | $0.79 | -3.66% | $145.6M | +1.71% |
| Q4 25 BEAT FY | $0.81 | $0.81 | +0.00% | $143.8M | +0.44% |
| FY Full Year | — | $3.09 | — | $556.1M | — |
| Q3 25 BEAT | $0.78 | $0.81 | +3.85% | $141.7M | +2.08% |
| Q2 25 MISS | $0.76 | $0.73 | -3.31% | $136.1M | +0.47% |
| Q1 25 BEAT | $0.72 | $0.75 | +4.17% | $134.5M | -5.26% |
| Q4 24 BEAT FY | $0.74 | $0.78 | +4.99% | $139.8M | +1.13% |
| FY Full Year | — | $2.93 | — | $517.4M | — |