Affiliated Managers (AMG) Q4 Earnings Top, Revenues Down Y/Y [Yahoo! Finance]
Affiliated Managers Group, Inc. (AMG)
Last affiliated managers group, inc. earnings: 4/27 07:03 am
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Source: Yahoo! Finance
The bottom line, however, declined 7.3% from the prior-year number. Results were aided by lower expenses and improvement in assets under management (AUM) balance, partially offset by a decline in revenues. Further, the company had a robust liquidity position. Economic net income was $242.9 million, down 16.3% year over year. Our estimate for this metric was $195.2 million. For 2023, economic earnings of $19.48 per share handily outpaced the Zacks Consensus Estimate of $18.70 but fell 2.7% year over year. Economic net income was $717.8 million, down 10%. Our estimate for this metric was $670.1 million. Revenues & Expenses Decline, AUM Rises Quarterly total revenues declined 6.8% year over year to $502.7 million. Also, the top line missed the Zacks Consensus Estimate of $532 million. For 2023, total revenues were $2.06 billion, down 11.7%. The top line lagged the consensus estimate of $2.09 billion. Adjusted EBITDA was $296.2 million, down 21.6% from the year-ago quarter.
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Earnings
- 2/5/24 - Miss
AMG
Analyst Actions
- 4/9/24 - Barrington Research
AMG
Sec Filings
- 4/12/24 - Form ARS
- 4/12/24 - Form DEFA14A
- 4/12/24 - Form DEF
- AMG's page on the SEC website