Cohen & Steers Files Q2 2024 10-Q Report
Ticker: CNS · Form: 10-Q · Filed: Aug 2, 2024 · CIK: 1284812
Sentiment: neutral
Topics: 10-Q, financials, quarterly-report
TL;DR
Cohen & Steers dropped its Q2 2024 10-Q. Check financials.
AI Summary
Cohen & Steers, Inc. filed its 10-Q for the period ending June 30, 2024. The filing covers the company's financial performance and operations during the second quarter of 2024. Key financial data and business updates are detailed within the report.
Why It Matters
This report provides investors with a detailed look at Cohen & Steers' financial health and operational performance for the second quarter of 2024, crucial for investment decisions.
Risk Assessment
Risk Level: low — This is a standard quarterly financial filing (10-Q) and does not inherently present new risks.
Key Numbers
- 20240630 — Reporting Period End Date (Indicates the end of the fiscal quarter covered by the report.)
- 2024-01-01 to 2024-06-30 — Year-to-Date Period (Covers the first six months of the fiscal year 2024.)
Key Players & Entities
- COHEN & STEERS, INC. (company) — Filer of the 10-Q report
- 20240630 (date) — End of the reporting period
- 212 832 3232 (phone_number) — Business phone number for Cohen & Steers, Inc.
FAQ
What is the primary purpose of this 10-Q filing?
This 10-Q filing provides a comprehensive overview of Cohen & Steers, Inc.'s financial condition and results of operations for the quarterly period ended June 30, 2024.
What is the fiscal year end for Cohen & Steers, Inc.?
The fiscal year end for Cohen & Steers, Inc. is December 31.
What is the Central Index Key (CIK) for Cohen & Steers, Inc.?
The Central Index Key for Cohen & Steers, Inc. is 0001284812.
What is the Standard Industrial Classification (SIC) code for Cohen & Steers, Inc.?
The Standard Industrial Classification code for Cohen & Steers, Inc. is 6282, which corresponds to Investment Advice.
When was this 10-Q filing submitted?
This 10-Q filing was submitted on August 2, 2024.
Filing Stats: 4,594 words · 18 min read · ~15 pages · Grade level 17.1 · Accepted 2024-08-02 10:34:50
Key Financial Figures
- $0.01 — ange on which registered Common Stock, $0.01 par value CNS New York Stock Exchange
Filing Documents
- cns-20240630.htm (10-Q) — 1808KB
- cns10q-63024ex102.htm (EX-10.2) — 30KB
- cns10q-63024ex311.htm (EX-31.1) — 11KB
- cns10q-63024ex312.htm (EX-31.2) — 11KB
- cns10q-63024ex321.htm (EX-32.1) — 6KB
- cns10q-63024ex322.htm (EX-32.2) — 6KB
- cns-20240630_g1.jpg (GRAPHIC) — 53KB
- cnslogo.jpg (GRAPHIC) — 12KB
- 0001284812-24-000285.txt ( ) — 7235KB
- cns-20240630.xsd (EX-101.SCH) — 31KB
- cns-20240630_cal.xml (EX-101.CAL) — 52KB
- cns-20240630_def.xml (EX-101.DEF) — 173KB
- cns-20240630_lab.xml (EX-101.LAB) — 494KB
- cns-20240630_pre.xml (EX-101.PRE) — 335KB
- cns-20240630_htm.xml (XML) — 1060KB
Financial Information
Part I. Financial Information
Financial Statements
Item 1. Financial Statements 1 Condensed Consolidated Statements of Financial Condition (Unaudited) 1 Condensed Consolidated Statements of Operations (Unaudited) 2 Condensed Consolidated Statements of Comprehensive Income (Unaudited) 3 Condensed Consolidated Statements of Changes in Stockholders' Equity (Unaudited) 4 Condensed Consolidated Statements of Cash Flows (Unaudited) 6 Notes to Condensed Consolidated Financial Statements (Unaudited) 8
Management's Discussion and Analysis of Financial Condition and Results of Operations
Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations 21
Quantitative and Qualitative Disclosures About Market Risk
Item 3. Quantitative and Qualitative Disclosures About Market Risk 37
Controls and Procedures
Item 4. Controls and Procedures 37
Other Information *
Part II. Other Information *
Legal Proceedings
Item 1. Legal Proceedings 38
Risk Factors
Item 1A. Risk Factors 38
Unregistered Sales of Equity Securities and Use of Proceeds
Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 38
Other Information
Item 5. Other Information 38
Exhibits
Item 6. Exhibits 39
Signatures
Signatures 40 * Items other than those listed above have been omitted because they are not applicable.
Forward-Looking Statements
Forward-Looking Statements This report and other documents filed by us contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended (the Exchange Act), which reflect management's current views with respect to, among other things, our operations and financial performance. You can identify these forward-looking statements by the use of words such as "outlook," "believes," "expects," "potential," "continues," "may," "will," "should," "seeks," "approximately," "predicts," "intends," "plans," "estimates," "anticipates" or the negative versions of these words or other comparable words. Such forward-looking statements are subject to various risks and uncertainties. Accordingly, there are or will be important factors that could cause actual outcomes or results to differ materially from those indicated in these forward-looking statements. We believe that these factors include, but are not limited to, the risks described in the Risk Factors section of our Annual Report on Form 10-K for the year ended December 31, 2023 (the Form 10-K), which is accessible on the Securities and Exchange Commission's website at www.sec.gov and on our website at www.cohenandsteers.com. These factors are not exhaustive and should be read in conjunction with the other cautionary statements that are included in this report, the Form 10-K and our other filings with the Securities and Exchange Commission. We undertake no obligation to publicly update or review any forward-looking statement, whether as a result of new information, future developments or otherwise.
—Financial Information
PART I—Financial Information
Financial Statements
Item 1. Financial Statements COHEN & STEERS, INC. AND SUBSIDIARIES CONDENSED CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION (Unaudited) (in thousands, except share data) June 30, 2024 December 31, 2023 Assets: Cash and cash equivalents $ 122,013 $ 187,442 Investments ($ 175,734 and $ 159,931 ) (1) 371,345 258,970 Accounts receivable 65,267 68,889 Due from brokers ($ 479 and $ 13 ) (1) 3,657 4,677 Property and equipment—net 70,326 66,336 Operating lease right-of-use assets—net 101,624 103,302 Goodwill and intangible assets—net 19,091 19,395 Other assets ($ 509 and $ 644 ) (1) 30,729 27,543 Total assets $ 784,052 $ 736,554 Liabilities: Accrued compensation and benefits $ 32,967 $ 66,382 Distribution and service fees payable 9,051 10,144 Operating lease liabilities 141,437 140,408 Income tax payable 646 5,115 Due to brokers ($ 501 and $ 119 ) (1) 595 201 Other liabilities and accrued expenses ($ 442 and $ 449 ) (1) 14,952 21,657 Total liabilities 199,648 243,907 Commitments and contingencies (See Note 11) Redeemable noncontrolling interests 114,570 106,463 Stockholders' equity: Common stock, $ 0.01 par value; 500,000,000 shares authorized; 57,450,598 and 55,788,720 shares issued at June 30, 2024 and December 31, 2023, respectively 574 558 Additional paid-in capital 916,006 818,269 Accumulated deficit ( 153,360 ) ( 158,186 ) Accumulated other comprehensive loss ( 8,874 ) ( 7,708 ) Treasury stock, at cost, 6,901,862 and 6,633,273 shares at June 30, 2024 and December 31, 2023, respectively ( 291,173 ) ( 271,705 ) Total stockholders' equity attributable to Cohen & Steers, Inc. 463,173 381,228 Nonredeemable noncontrolling interests 6,661 4,956 Total stockholders' equity 469,834 386,184 Total liabilities, redeemable noncontrolling interests and stockholders' equity $ 784,052 $ 736,554 _________________________ (1) Amounts in parentheses represent the aggregate balances at June 30, 2024 and December 31, 2023 attributable to vari