Q3 25 EPS
$0.81
BEAT +3.85%
Est. $0.78
Q3 25 Revenue
$141.7M
BEAT +2.08%
Est. $138.8M
vs S&P Since Q3 25
+6.8%
BEATING MARKET
CNS +17.2% vs S&P +10.4%
Market Reaction
Did CNS Beat Earnings? Q3 2025 Results
Cohen & Steers delivered a clean beat across the board in the third quarter of 2025, with diluted EPS of $0.81 topping the $0.78 consensus estimate by 3.85% and revenue of $141.72 million edging past the $138.84 million forecast by 2.08%, representin… Read more Cohen & Steers delivered a clean beat across the board in the third quarter of 2025, with diluted EPS of $0.81 topping the $0.78 consensus estimate by 3.85% and revenue of $141.72 million edging past the $138.84 million forecast by 2.08%, representing 2.2% growth from a year ago. The key driver behind the stronger results was a combination of higher average assets under management and sequential margin expansion, with the GAAP operating margin widening 270 basis points to 34.5% even as total expenses held essentially flat at $92.82 million, aided by a 7.2% sequential decline in general and administrative costs. Assets under management closed the quarter at $90.90 billion, up from $88.90 billion at the end of Q2, supported by $233.00 million in net inflows and $2.40 billion in market appreciation. Net income attributable to common stockholders rose 13.2% sequentially to $41.71 million, and shares rallied roughly 4% following the release as investors responded to the broad-based outperformance.
Key Takeaways
- • Higher average assets under management drove increased investment advisory and administration fees
- • One additional calendar day in Q3 contributed to revenue growth
- • Net inflows of $233 million, driven primarily by open-end fund inflows into U.S. real estate ($449 million) and preferred securities ($146 million)
- • Market appreciation of $2.4 billion across strategies
- • Lower general and administrative expenses due to reduced travel and talent acquisition costs
- • Operating margin expanded 270 basis points sequentially to 34.5%
CNS YoY Financials
Q3 2025 vs Q3 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 | — |