Q2 25 EPS
$0.73
MISS 3.31%
Est. $0.76
Q2 25 Revenue
$136.1M
BEAT +0.47%
Est. $135.5M
vs S&P Since Q2 25
-13.4%
TRAILING MARKET
CNS +3.5% vs S&P +16.9%
Market Reaction
Did CNS Beat Earnings? Q2 2025 Results
Cohen & Steers delivered a mixed second quarter for 2025, posting adjusted diluted EPS of $0.73 against a consensus estimate of $0.76, a miss of 3.31%, even as revenue of $136.13 million edged past expectations by 0.47% and climbed 7.4% year-over-yea… Read more Cohen & Steers delivered a mixed second quarter for 2025, posting adjusted diluted EPS of $0.73 against a consensus estimate of $0.76, a miss of 3.31%, even as revenue of $136.13 million edged past expectations by 0.47% and climbed 7.4% year-over-year. The earnings shortfall traced primarily to a surge in operating expenses, which rose 4.0% sequentially to $92.80 million, well ahead of the 1.2% quarter-over-quarter revenue gain, compressing adjusted operating margin by 180 basis points to 33.6%. Higher compensation costs, including accelerated restricted stock vesting tied to employee retirements, along with elevated talent acquisition and business development spending, were the key culprits. Assets under management climbed 10.2% from a year ago to $88.94 billion, supported by $2.25 billion in market appreciation, though net outflows of $131.00 million partially tempered the gain. Preferred securities strategies saw the sharpest redemption pressure, with $480.00 million in net outflows, while global listed infrastructure AUM grew 19.0% year-over-year to $10.05 billion, signaling continued investor appetite for that strategy.
Key Takeaways
- • Higher average assets under management in open-end funds and institutional accounts
- • One additional calendar day in Q2 2025 versus Q1 2025
- • Market appreciation of $2.3 billion driving AUM growth
- • Strong year-over-year AUM growth of 10.2%
- • Net inflows of $397 million into U.S. real estate open-end funds
- • Global listed infrastructure AUM up 19.0% year-over-year
CNS YoY Financials
Q2 2025 vs Q2 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 | — |