T. Rowe Price Group, Inc. (NASDAQ:TROW) Q3 2024 Earnings Conference Call November 1, 2024 8:00 AM ET
Company Participants
Linsley Carruth - Director of IR
Rob Sharps - CEO and President
Jen Dardis - CFO
Eric Veiel - Head of Global Investments
Conference Call Participants
Alexander Blostein - Goldman Sachs
Michael Cyprys - Morgan Stanley
Benjamin Budish - Barclays Capital
Dan Fannon - Jefferies
Ken Worthington - JPMorgan
Craig Siegenthaler - Bank of America
Glenn Schorr - Evercore ISI
Patrick Davitt - Autonomous Research
Brennan Hawken - UBS
Mike Brown - Wells Fargo Securities
Operator
Good morning. My name is Daniel and I will be your conference facilitator today. Welcome to T. Rowe Price’s Third Quarter 2024 Earnings Conference Call. All participants will be in listen-only mode until the question-and-answer period. I will give you instructions on how to ask a question at that time.
As a reminder, this call is being recorded and will be available for replay on T. Rowe Price's website shortly after the call concludes. I will now turn the call over to Linsley Carruth, T. Rowe Price's Director of Investor Relations.
Linsley Carruth
Hello, and thank you for joining us today for our Third Quarter Earnings Call. The press release and the supplemental materials document can be found on our IR website at investors.troweprice.com. Today's call will last approximately 45 minutes.
Our Chair, CEO, and President, Rob Sharps; and CFO, Jen Dardis, will discuss the company's results for about 15 minutes, then we'll open it up for your questions. We ask that you limit it to one question per participant. I'd like to remind you that during the course of this call, we may make a number of forward-looking statements and reference certain non-GAAP financial measures. Please refer to the forward-looking statement language and the reconciliation to GAAP in the supplemental materials, as well as in our press release and 10-Q.
All investment performance references to peer groups on today's call are using Morningstar peer groups and for the quarter that ended September 30, 2024. Now I'll turn it over to Rob.
Rob Sharps
Thank you, Linsley. And thank you all for joining our third quarter earnings call. We closed the quarter with $1.63 trillion in assets under management, up 3.9% from June 30th, despite $12.2 billion in net outflows. While our net outflows increased in the third quarter, we are seeing encouraging signs that we are on the right path.