Private markets investment firm P10 (NYSE: PX) will be reporting earnings this Thursday before market open. Here’s what to look for.
P10 beat analysts’ revenue expectations by 1% last quarter, reporting revenues of $72.7 million, up 2.3% year on year. It was a strong quarter for the company, with and a beat of analysts’ EPS estimates.
Is P10 a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, analysts are expecting P10’s revenue to grow 7.1% year on year to $79.5 million, slowing from the 26% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.23 per share.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. P10 has missed Wall Street’s revenue estimates three times over the last two years.
Looking at P10’s peers in the custody bank segment, some have already reported their Q3 results, giving us a hint as to what we can expect. Invesco delivered year-on-year revenue growth of 8.2%, beating analysts’ expectations by 38.8%, and Hamilton Lane reported revenues up 27.3%, topping estimates by 12.8%. Invesco traded up 2.7% following the results.
Read our full analysis of Invesco’s results here and Hamilton Lane’s results here.
Questions about potential tariffs and corporate tax changes have caused much volatility in 2025. While some of the custody bank stocks have shown solid performance in this choppy environment, the group has generally underperformed, with share prices down 3.2% on average over the last month. P10 is down 5.7% during the same time and is heading into earnings with an average analyst price target of $15.50 (compared to the current share price of $10.31).
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