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Affiliated Managers (AMG) Q2 Earnings Beats, Revenue Lags

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Have you been eager to see how Affiliated Managers Group Inc. (AMG - Free Report) performed in Q2 in comparison with the market expectations? Let’s quickly scan through the key facts from this Massachusetts-based global asset management company’s earnings release this morning:

An Earnings Beat

Affiliated Managers came out with economic earnings of $3.06 per share, which beat the Zacks Consensus Estimate of $3.01.

Lower operating expenses mainly drove the earnings beat.

How Was the Estimate Revision Trend?

You should note that the earnings estimate revisions for Affiliated Managers depicted pessimism prior to the earnings release. The Zacks Consensus Estimate has moved nearly 2% down over the last 30 days.

However, Affiliated Managers has a decent earnings surprise history.

AFFIL MANAGERS Price and EPS Surprise

AFFIL MANAGERS Price and EPS Surprise | AFFIL MANAGERS Quote

Before posting the earnings beat in Q2 the company delivered positive surprises in three of the prior four quarters. Overall, the company surpassed the Zacks Consensus Estimate by an average of 1% in the trailing four quarters.

Revenue Came In Lower Than Expected

Affiliated Managers posted revenues of $554.1 million, which missed the Zacks Consensus Estimate of $558.5 million. Moreover, it compared unfavorably with the year-ago number of $646.6 million.

Key Statistics

  • Net client cash inflows during the reported quarter were $0.6 billion.
  • Assets under management were nearly $647.6 billion as of Jun 30, 2016.


What Zacks Rank Says

The estimate revisions that we discussed earlier have driven a Zacks Rank #3 (Hold) for Affiliated Managers. However, since the latest earnings performance is yet to be reflected in the estimate revisions, the rank is subject to change. While things apparently look favorable, it all depends on what sense the just-released report makes to the analysts.

Check back later for our full write up on this Affiliated Managers earnings report!

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