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Affiliated Managers' Q2 Earnings Beat Estimates as AUM Increases
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Key Takeaways
AMG's Q2 EPS of $5.39 beat estimates and rose 15.4% year over year on strong AUM growth.
AUM jumped 10% to $771B, with $8.1B in net inflows driving economic income up 2.1%.
Total revenue slipped 1.4% to $493.2M, while expenses rose 14.8% to $412.7M.
Affiliated Managers Group Inc.’s (AMG - Free Report) second-quarter 2025 economic earnings of $5.39 per share handily surpassed the Zacks Consensus Estimate of $5.26. The bottom line also jumped 15.4% from the prior-year quarter.
Results benefited from a solid improvement in assets under management (AUM) balance. Also, the company had a robust liquidity position. However, a rise in expenses and a slight fall in revenues were the undermining factors.
Economic net income was $159.2 million, up 2.1% year over year. Our estimate for the metric was $151.5 million.
AMG’s Revenues Fall, Expenses Rise
Quarterly total revenues declined 1.4% year over year to $493.2 million. The top line missed the Zacks Consensus Estimate of $510.2 million.
Adjusted EBITDA was $219.7 million, up 1%. We had projected the metric to be $214.8 million.
Total consolidated expenses jumped 14.8% to $412.7 million. We had estimated total expenses to be $407.6 million.
Affiliated Managers’ AUM Rises
As of June 30, 2025, total AUM was $771 billion, which increased 10%. Our estimate for total AUM was $716.2 billion.
Net client cash inflows were $8.1 billion in the reported quarter.
AMG’s Capital & Liquidity Position Decent
As of June 30, 2025, Affiliated Managers had $361 million in cash and cash equivalents compared with $950 million as of Dec. 31, 2024. The company had $2.62 billion of debt, almost at the same level as on Dec. 31, 2024.
Stockholders’ equity as of June 30, 2025, was $3.24 billion, down from $3.35 billion as of Dec. 31, 2024.
Update on AMG Share Repurchases
During the second quarter, Affiliated Managers repurchased shares worth $100 million.
Our View on Affiliated Managers
Affiliated Managers is well-positioned for growth given the successful partnerships, global distribution capability and a diverse product mix. However, substantial intangible assets on the company's balance sheet and a tough operating backdrop are major near-term concerns.
Affiliated Managers Group, Inc. Price, Consensus and EPS Surprise
SEI Investments Co.’s (SEIC - Free Report) second-quarter 2025 earnings per share (EPS) of $1.78 beat the Zacks Consensus Estimate of $1.18. Moreover, the bottom line reflected a rise of 70% from the prior-year quarter.
Results were aided by higher revenues and a rise in AUM. However, higher expenses acted as a spoilsport for SEIC.
Invesco’s (IVZ - Free Report) second-quarter 2025 adjusted earnings of 36 cents per share lagged the Zacks Consensus Estimate of 40 cents. Moreover, the bottom line declined 16.3% from the prior-year quarter.
Invesco’s results were adversely impacted by higher adjusted operating expenses. However, a rise in adjusted net revenues was a tailwind. An increase in the AUM balance, driven by solid inflows, was another positive.
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Affiliated Managers' Q2 Earnings Beat Estimates as AUM Increases
Key Takeaways
Affiliated Managers Group Inc.’s (AMG - Free Report) second-quarter 2025 economic earnings of $5.39 per share handily surpassed the Zacks Consensus Estimate of $5.26. The bottom line also jumped 15.4% from the prior-year quarter.
Results benefited from a solid improvement in assets under management (AUM) balance. Also, the company had a robust liquidity position. However, a rise in expenses and a slight fall in revenues were the undermining factors.
Economic net income was $159.2 million, up 2.1% year over year. Our estimate for the metric was $151.5 million.
AMG’s Revenues Fall, Expenses Rise
Quarterly total revenues declined 1.4% year over year to $493.2 million. The top line missed the Zacks Consensus Estimate of $510.2 million.
Adjusted EBITDA was $219.7 million, up 1%. We had projected the metric to be $214.8 million.
Total consolidated expenses jumped 14.8% to $412.7 million. We had estimated total expenses to be $407.6 million.
Affiliated Managers’ AUM Rises
As of June 30, 2025, total AUM was $771 billion, which increased 10%. Our estimate for total AUM was $716.2 billion.
Net client cash inflows were $8.1 billion in the reported quarter.
AMG’s Capital & Liquidity Position Decent
As of June 30, 2025, Affiliated Managers had $361 million in cash and cash equivalents compared with $950 million as of Dec. 31, 2024. The company had $2.62 billion of debt, almost at the same level as on Dec. 31, 2024.
Stockholders’ equity as of June 30, 2025, was $3.24 billion, down from $3.35 billion as of Dec. 31, 2024.
Update on AMG Share Repurchases
During the second quarter, Affiliated Managers repurchased shares worth $100 million.
Our View on Affiliated Managers
Affiliated Managers is well-positioned for growth given the successful partnerships, global distribution capability and a diverse product mix. However, substantial intangible assets on the company's balance sheet and a tough operating backdrop are major near-term concerns.
Affiliated Managers Group, Inc. Price, Consensus and EPS Surprise
Affiliated Managers Group, Inc. price-consensus-eps-surprise-chart | Affiliated Managers Group, Inc. Quote
Affiliated Managers currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Performance of AMG’s Peers
SEI Investments Co.’s (SEIC - Free Report) second-quarter 2025 earnings per share (EPS) of $1.78 beat the Zacks Consensus Estimate of $1.18. Moreover, the bottom line reflected a rise of 70% from the prior-year quarter.
Results were aided by higher revenues and a rise in AUM. However, higher expenses acted as a spoilsport for SEIC.
Invesco’s (IVZ - Free Report) second-quarter 2025 adjusted earnings of 36 cents per share lagged the Zacks Consensus Estimate of 40 cents. Moreover, the bottom line declined 16.3% from the prior-year quarter.
Invesco’s results were adversely impacted by higher adjusted operating expenses. However, a rise in adjusted net revenues was a tailwind. An increase in the AUM balance, driven by solid inflows, was another positive.