Blackrock, Inc. · NYSE:BLK
Blackrock — Q2 2020 Earnings Presentation
11 slides from Blackrock's earnings presentation, Jul 17, 2020
Slide 1: Q2 2020 Earnings Release Supplement
July 17, 2020 Q2 2020 Earnings Earnings Release Supplement
Slide 2: A broadly diversified business across clients, products and geographies
A broadly diversified business across clients, products and geographies Assets Under Management of $7.32 trillion at June 30, 2020 Q2 2020 Total Base Fees of $2.966 billion Client Type Style Product Type Region Active Institutional 27% 35% Active Equity Equity 46% 46% Institutional 48% Americas Amer
Slide 3: Net flows
Net flows ($ in billions) Total BlackRock Retail Long-term 5% 3% 2% 2% 4% 5% 7% 6% 5% 7% 6% 3% 0% 0% 0% 3% 2% 4% 5% 3% 2% 1% 2% 3% 5% 4% 5% Long-term Cash Advisory $151 $26 $129 $16 $30 $100 $50 $84 $14 $65 $32 $35 $24 $7 $8 $6 $6 $125 $5 $99 $20 $6 $59 $62 $2 $2 $11 $44 $52 $53 $14 ($15) ($19) $(1)
Slide 4: Profitability
Profitability ($ in millions, except per share data) Operating Income and Margin, as adjusted Net Income and EPS, as adjusted $8.34 $1,700 45.2% 44.2% 46.0% $7.85 $1,800 43.5% 43.5% $7.52 41.9% 43.1% 41.7% 43.7% $1,580 44.2% $7.15 $6.60 $1,700 $6.66 $6.61 $6.41 $1,600 $6.08 $1,538 $1,460 $1,500 $1,5
Slide 5: Capital management
Capital management (amounts in millions, except per share data) Share repurchases and weighted average diluted shares Dividends per share $3.63 $3.63 162.2 161.4 160.5 159.3 $3.30 $3.30 $3.30 $3.30 156.4 156.4 156.9 156.4 154.7 $3.13 $3.13 (1) $2.88 $1,566 (2) $1,113 $500 $525 $400 $300 $100 $0 $0 Q
Slide 6: Major market indices and exchange rates
Major market indices and exchange rates % Change % Change Spot 6/30/20 vs. Average Q2 2020 vs. 6/30/2019 3/31/2020 6/30/2020 3/31/2020 6/30/2019 Q2 2019 Q1 2020 Q2 2020 Q1 2020 Q2 2019 Equity Indices Domestic S&P 500 2,942 2,585 3,100 20% 5% 2,882 3,068 2,930 (4)% 2% Global MSCI Barra World Index 2,
Slide 7: Quarterly revenue
Quarterly revenue ($ in millions) Percentage Change Year-over-Year Sequential 75% Base fees ex. securities lending Base fees ex. securities lending -% (5)% Securities lending Securities lending 40% 33% Performance fees Performance fees 75% 173% Technology services revenue Technology services revenue
Slide 8: Quarterly investment advisory, administration fees and securities lending revenue
Quarterly investment advisory, administration fees and securities lending revenue ($ in millions) Q2 2020 compared to Q2 2019 Q2 2020 compared to Q1 2020 $63 $(89) $15 $2 $(12) $17 $(17) $(17) $15 $(4) $(10) $(18) $33 $27 $3,055 $(23) $(78) $(87) $31 $36 $64 $2,966 $2,966 $2,903 Q2 2019 Cash Alts No
Slide 9: Quarterly expense, as adjusted
Quarterly expense, as adjusted ($ in millions) Employee comp. & benefits Percentage Change Year-over-Year Sequential 19% 6% 1% Employee comp. & benefits Distribution & servicing costs Distribution & servicing costs 3% (4)% 11% Direct fund expense (2)% (11)% Direct fund expense 52% (17)% (30)% Genera
Slide 10: Reconciliation between GAAP and as adjusted
Reconciliation between GAAP and as adjusted ($ in millions) 2018 2019 2020 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Operating Income GAAP $ 1,440 $ 1,396 $ 1,246 $ 1,233 $ 1,278 $ 1,502 $ 1,538 $ 684 $ 1,406 Non-GAAP expense adjustments 3 4 64 - - - - 589 - As Adjusted $ 1,443 $ 1,400 $ 1,310 $ 1,233 $ 1,278 $ 1,
Slide 11: Important Notes
Important Notes This presentation, and other statements that BlackRock may make, may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act, with respect to BlackRock’s future financial or business performance, strategies or expectations. Forward-lookin