Today's Viewpoint: A MarshBerry Publication

Blucora, Inc. Q2 2022 Earnings Report

Blucora, Inc.  reported second quarter 2022 results this morning. Diluted Earnings Per Share was $0.81, up 26.6% from $0.64 last year. Read the five things you should know about this earnings call.


Blucora, Inc. (BCOR) reported second quarter 2022 results this morning. Diluted Earnings Per Share (EPS) was $0.81, up 26.6% from $0.64 last year.

Blucora Earnings Report Highlights

Here are five things you should know about this earnings call:

  1. Total revenue was $256.9 million, up 1.0% from 2Q2021. Net income was $39.4 million for the quarter, up 24.7% from $31.6 million in 2Q2021. The company’s net leverage ratio was 3.1x, up from 1.9x in 2Q2021, but essentially flat from 3.1x at the end of 2021 and 3.0x in 1Q2022.
  1. Wealth management revenue registered at $162.7 million, up 0.2% from $162.4 million in 2Q2021. The segment’s quarterly financial professional production retention rate was 99.4%. The total number of financial professionals fell to 3,349, with low producing financial professionals accounting for 90% of the 2Q2022 attrition rate.
  1. Total client assets declined to $76.5 billion, down 12.9% from 2Q2021 and 11.2% from 1Q2022. The company attributes this to declining market conditions. BCOR’s Avantax wealth management service added $514 million of newly recruited assets in the second quarter, with net new assets of $185 million for the quarter. Year-to-date for the first half of 2022, total newly recruited assets have already surpassed the total from 2021. Advisory assets accounted for 48% of total client assets in 2Q2022. This share increased from 44.9% in 2Q2021 as BCOR’s organic asset inflows shifted toward the more durable advisory platforms.
  1. Avantax announced the acquisition of the wealth management practice of a financial advisor in Florida, adding approximately $157 million in total client assets. Avantax also announced the addition of over $400 million in total client assets through partnership with a San Diego, California based financial services firm that specializes in advanced estate planning.
  1. Management believes the wealth management business is in the strongest position it has seen in several years. They believe this is demonstrated by improvements in advisor satisfaction, record levels of newly acquired assets, higher retention levels, net positive flows for two consecutive quarters, meaningful shifts to advisory platforms, and a steady pipeline of product releases to help BCOR’s financial professional base.

To learn more visit – Blucora Reports Second Quarter 2022 Results

Investment banking services offered through MarshBerry Capital, LLC, Member FINRA and SIPC, and an affiliate of Marsh, Berry & Company, LLC, 28601 Chagrin Blvd, Suite 400, Woodmere, OH 44122 (440) 354-3230

This earnings summary has been prepared by Marsh, Berry & Co., LLC. and is not intended to provide investment recommendations on any company. It is not a research report, as such term is defined by applicable laws and regulations, and it does not contain sufficient information upon which to make an investment decision. It is not to be construed as an offer to buy or sell or a solicitation of an offer to buy or sell any securities, financial instruments or to participate in any particular trading strategy. These materials are based solely on information contained in publicly available documents and Marsh, Berry & Co., LLC has not independently attempted to investigate or to verify such information.

Contact MarshBerry
If you have questions about Today's ViewPoint, or would like to learn more about how MarshBerry can help your firm determine its path forward, please email or call MarshBerry at 440.354.3230.

MarshBerry continues to be the #1 sell side advisor in the industry (as ranked by S&P Global). If you’re considering selling your firm, we are the best choice to help you through the complicated process. If you don’t hire MarshBerry, hire a reputable advisor that can help you navigate one of the most important business decisions you will ever make. You will be much better off having an advisor in your corner that knows the industry than trying to do this on your own.