Focus Financial Partners Reports Third Quarter Results
Focus Financial Partners Inc. (FOCS)
Last focus financial partners inc. earnings: 2/20 07:00 am
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Source: Accesswire
M&A Momentum Drives Sustained High Growth and Strong Financial PerformanceNEW YORK, NY / ACCESSWIRE / November 4, 2021 / Focus Financial Partners Inc. (NASDAQ:FOCS) ("Focus Inc.", "Focus", the "Company", "we", "us" or "our"), a leading partnership of independent, fiduciary wealth management firms, today reported results for its third quarter ended September 30, 2021.Third Quarter 2021 HighlightsTotal revenues of $454.5 million, 37.1% growth year over yearOrganic revenue growth(1) rate of 28.8% year over yearGAAP net income of $1.8 millionGAAP basic and diluted net income per share attributable to common shareholders of $0.01Adjusted Net Income Excluding Tax Adjustments(2) of $68.5 million and Tax Adjustments of $11.8 millionAdjusted Net Income Excluding Tax Adjustments Per Share(2) of $0.84 and Tax Adjustments Per Share(2) of $0.14Net Leverage Ratio(3) of 3.54xNet cash provided by operating activities for the trailing 4-quarters ended September 30, 2021 of $310.7 million, 52.8% higher
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