Private markets investment firm P10 (NYSE: PX) will be reporting earnings this Thursday before market open. Here’s what to look for.
P10 missed analysts’ revenue expectations by 4.5% last quarter, reporting revenues of $75.93 million, up 2.3% year on year. It was a slower quarter for the company, with and a miss of analysts’ revenue 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 decline 5.2% year on year to $80.63 million, a reversal from the 34.8% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.24 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 Q4 results, giving us a hint as to what we can expect. Franklin Resources delivered year-on-year revenue growth of 38.3%, beating analysts’ expectations by 11.5%, and WisdomTree reported revenues up 33.4%, topping estimates by 3%. Franklin Resources traded up 4.6% following the results while WisdomTree was down 2.9%.
Read our full analysis of Franklin Resources’s results here and WisdomTree’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 3.5% on average over the last month. P10 is up 2.4% during the same time and is heading into earnings with an average analyst price target of $16.63 (compared to the current share price of $10.54).
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