SEI Investments Company (NASDAQ:SEIC) Q2 2023 Earnings Conference Call July 26, 2023 4:30 PM ET
Company Participants
Alex Whitelam – Director-Investor Relations
Ryan Hicke – Chief Executive Officer
Dennis McGonigle – Chief Financial Officer
Sanjay Sharma – Executive Vice President and Global Head-Private Banking
Conference Call Participants
Ryan Kenny – Morgan Stanley
Jeff Schmitt – William Blair
Owen Lau – Oppenheimer
Mike Brown – KBW
Operator
Ladies and gentlemen, thank you for standing by. Welcome to the SEI Second Quarter 2023 Earnings Call. At this time, all participants are in a listen-only mode. Later, we will conduct a question-and-answer session, instructions will be given at that time. [Operator Instructions] As a reminder, this conference is being recorded.
I'd like now to turn the conference over to our host, Mr. Alex Whitelam, Director of Investor Relations. Please go ahead.
Alex Whitelam
Thank you, and welcome, everyone. I'm excited to join the team here at SEI and look forward to working with you all. We appreciate you joining us today for our second quarter 2023 earnings call. On the call, we have Ryan Hicke, SEI's Chief Executive Officer; Dennis McGonigle, Chief Financial Officer; and leaders of our business segments, Wayne Withrow, Paul Klauder, Jay Cipriano, Phil McCabe and Sanjay Sharma.
Before we again, I'd like to point out that our earnings press release can be found under the Investor Relations section of our website at seic.com. This call is being webcast live, and a replay will be available on the Events and Webcast page of our website.
We would like to remind you that during today's presentation and in our responses to your questions, we have and will make certain forward-looking statements that are subject to risks and uncertainties that may cause actual results to differ materially. Please refer to our notices regarding forward-looking statements that appear in today's earnings press release and in our filings with the Securities and Exchange Commission. We do not undertake to update any of our forward-looking statements.
With that, I'll turn the call over to our CEO, Ryan Hicke. Ryan?
Ryan Hicke
Thanks, Alex. Hello, everyone. I hope you're all having a great summer. Over the past year, we have been laying the foundation for strategic growth. We've evolved leadership, invested in our talent, increased our market presence and aligned our resources to drive an enterprise-wide approach to our markets. The headlines for the quarter's financial results are: revenues in the second quarter were $489 million, up 2% from a year ago. Net income for the quarter was $119 million, a 7% increase compared to last year's second quarter. EPS was $0.89, up 10% from the $0.81 reported in the same period last year. Dennis will provide more details on our results shortly.