Affiliated Managers Group

Financial | Asset Management | USA
Affiliated Managers (AMG) Q4 Earnings Beat, Revenues Down

Affiliated Managers Group Inc.’s AMG fourth-quarter 2018 economic earnings of $3.53 per share outpaced the Zacks Consensus Estimate of $3.51. However, the figure was down 24.6% year over year.

Slight fall in expenses supported the results. Also, the liquidity position remained strong. However, lower revenues and decline in assets under management (AUM) were the undermining factor.

Affiliated Managers’ economic net income was $185.8 million, witnessing a decline of 28.9% from the prior-year quarter.

For 2018, economic earnings of $14.50 per share lagged the Zacks Consensus Estimate of by a penny. Also, it was nearly 1% down on a year-over-year basis. Economic net income was $824.4 million, witnessing a fall of 5.3%.

Revenues & Expenses Down

Total revenues for the reported quarter fell 6.6% year over year to $564.4 million. However, the top line beat the Zacks Consensus Estimate of $555.9 million.

For 2018, total revenues increased 3.2% year over year to $2.38 billion. Also, itsurpassed the Zacks Consensus Estimate of $2.36 billion.

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https://finance.yahoo.com/news/affiliate...04212.html

Affiliated Managers (AMG) Q1 Earnings Lag, Revenues Down

Affiliated Managers Group Inc.’s AMG first-quarter 2019 economic earnings of $3.26 per share lagged the Zacks Consensus Estimate by a penny. Also, the figure was down 16.8% year over year.

Results were adversely impacted by decline in revenues and fall in assets under management (AUM). However, lower expenses and robust liquidity position acted as tailwinds.

Economic net income was $169 million, down21.5% from the prior-year quarter.

Revenues & Expenses Down

Total revenues fell 11.3% year over year to $543.1 million. However, the top line beat the Zacks Consensus Estimate of $535 million.

Adjusted earnings before interest, taxes, depreciation and amortization were $215.6 million, plunging24.7% from the year-ago quarter.

Total operating expenses decreased 10.9% to $387.8 million. All cost components except intangible amortization and impairments declined.

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https://finance.yahoo.com/news/affiliate...01983.html