BrightSphere Investment Group Inc. (NYSE:BSIG) Q2 2022 Earnings Conference Call July 28, 2022 11:00 AM ET

Company Participants

Elie Sugarman – Head of Strategy and Corporate Development

Suren Rana – President and Chief Executive Officer

Conference Call Participants

Kenneth Lee – RBC Capital Markets

Operator

Ladies and gentlemen, thank you for standing by. Welcome to the BrightSphere Investment Group Earnings Conference Call and Webcast for the Second Quarter 2022. During the call, all participants will be in a listen-only mode. After the presentation, we’ll conduct a question-and-answer session. [Operator Instructions] Please note that this call is being recorded today, Thursday, July 28, 2022, at 11:00 AM Eastern Time.

I’d now like to turn the meeting over to Elie Sugarman, Head of Strategy and Corporate Development. Please go ahead, Elie.

Elie Sugarman

Good morning, and welcome to BrightSphere’s conference call to discuss our results for the second quarter ended June 30, 2022. Before we get started, please note that we may make forward-looking statements about our business and financial performance. Each forward-looking statement is subject to risks and uncertainties that could cause actual results to differ materially from those projected.

Additional information regarding these risks and uncertainties appears in our SEC filings, including the Form 8-K filed today containing the earnings release, our 2021 Form 10-K and our Form 10-Q for the first quarter of 2022. Any forward-looking statements that we make on this call are based on assumptions as of today, and we undertake no obligation to update them as a result of new information or future events.

We may also reference certain non-GAAP financial measures. Information about any non-GAAP measures referenced, including a reconciliation of those measures to GAAP measures, can be found on our website along with the slides that we will use as part of today’s discussion. Finally, nothing herein shall be deemed to be an offer or solicitation to buy any investment products.

Suren Rana, our President and Chief Executive Officer will lead the call. And now I’m pleased to turn the call over to Suren. Suren?

Suren Rana

Thanks, Elie. Good morning, everyone, and thank you for joining us today. As usual, I’ll start off with the financial highlights on Slide 5 of the deck. We reported ENI per share of $0.41 for the second quarter, 3% higher, compared to $0.40 that we reported for the second quarter of 2021. The EPS for second quarter of 2021 included about $0.07 of contribution from a couple of affiliates: ICM and Campbell Global, both of which have since been divested. Excluding the $0.07, EPS for 2Q 2021 would have been $0.33. And so on an apples-to-apples basis, the EPS of $0.41 for 2Q 2022 is 24% higher than 2Q 2021.