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Affiliated Managers' Q3 Earnings Beat as AUM & Revenues Increase
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Key Takeaways
Affiliated Managers' Q3 earnings of $6.10 per share beat estimates and rose 26.6% year over year.
Total revenues climbed 2.2% to $528 million, while adjusted EBITDA surged 17.2% to $250.9 million.
AUM grew 10.3% to $803.6 billion, offset partly by $2.8 billion in net client cash outflows.
Affiliated Managers Group Inc.’s (AMG - Free Report) third-quarter 2025 economic earnings of $6.10 per share handily surpassed the Zacks Consensus Estimate of $5.83. The bottom line also jumped 26.6% from the prior-year quarter.
Shares of Affiliated Managers gained almost 1.7% in pre-market trading on better-than-expected quarterly performance.
Results benefited from a solid improvement in assets under management (AUM) balance and higher revenues. Also, the company had a robust liquidity position. However, a rise in expenses was the undermining factor.
Economic net income was $179.7 million, up 17.3% year over year. Our estimate for the metric was $166.8 million.
AMG’s Revenues Rise, Expenses Up
Quarterly total revenues rose 2.2% year over year to $528 million. The top line beat the Zacks Consensus Estimate of $521.1 million.
Adjusted EBITDA was $250.9 million, up 17.2%. We had projected the metric to be $233.3 million.
Total consolidated expenses rose 9.2% to $409.7 million. We had estimated total expenses to be $417.8 million.
Affiliated Managers’ AUM Rises
As of Sept. 30, 2025, total AUM was $803.6 billion, which increased 10.3%. Our estimate for total AUM was $780.8 billion.
Moreover, average AUM totaled $786.9 billion, up 10.6% year over year.
Net client cash outflows were $2.8 billion in the reported quarter.
AMG’s Capital & Liquidity Position Decent
As of Sept. 30, 2025, Affiliated Managers had $476.1 million in cash and cash equivalents compared with $950 million as of Dec. 31, 2024. The company had $2.37 billion of debt, down from $2.62 billion as of Dec. 31, 2024.
Stockholders’ equity as of Sept. 30, 2025, was $3.34 billion, down from $3.35 billion as of Dec. 31, 2024.
Update on AMG Share Repurchases
During the third quarter, Affiliated Managers repurchased shares worth $77 million.
Our View on Affiliated Managers
Affiliated Managers is well-positioned for growth given the successful partnerships, focus on alternative strategies, global distribution capability and a diverse product mix. However, substantial intangible assets on the company's balance sheet and a tough operating backdrop remain major near-term concerns.
Affiliated Managers Group, Inc. Price, Consensus and EPS Surprise
T. Rowe Price Group, Inc.’s (TROW - Free Report) third-quarter 2025 adjusted earnings per share of $2.81 beat the Zacks Consensus Estimate of $2.55. Also, the bottom line increased 9.3% year over year.
TROW's results benefited from a rise in investment advisory fees and capital allocation-based income. Also, higher AUM was another positive. However, higher expenses acted as a spoilsport.
Ameriprise Financial’s (AMP - Free Report) third-quarter 2025 adjusted operating earnings of $9.92 per share handily surpassed the Zacks Consensus Estimate of $9.60. The bottom line reflected a rise of 12.3% from the year-ago quarter.
AMP’s results benefited from higher revenues and a solid improvement in AUM and assets under administration balances. However, an increase in expenses was a headwind.
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Affiliated Managers' Q3 Earnings Beat as AUM & Revenues Increase
Key Takeaways
Affiliated Managers Group Inc.’s (AMG - Free Report) third-quarter 2025 economic earnings of $6.10 per share handily surpassed the Zacks Consensus Estimate of $5.83. The bottom line also jumped 26.6% from the prior-year quarter.
Shares of Affiliated Managers gained almost 1.7% in pre-market trading on better-than-expected quarterly performance.
Results benefited from a solid improvement in assets under management (AUM) balance and higher revenues. Also, the company had a robust liquidity position. However, a rise in expenses was the undermining factor.
Economic net income was $179.7 million, up 17.3% year over year. Our estimate for the metric was $166.8 million.
AMG’s Revenues Rise, Expenses Up
Quarterly total revenues rose 2.2% year over year to $528 million. The top line beat the Zacks Consensus Estimate of $521.1 million.
Adjusted EBITDA was $250.9 million, up 17.2%. We had projected the metric to be $233.3 million.
Total consolidated expenses rose 9.2% to $409.7 million. We had estimated total expenses to be $417.8 million.
Affiliated Managers’ AUM Rises
As of Sept. 30, 2025, total AUM was $803.6 billion, which increased 10.3%. Our estimate for total AUM was $780.8 billion.
Moreover, average AUM totaled $786.9 billion, up 10.6% year over year.
Net client cash outflows were $2.8 billion in the reported quarter.
AMG’s Capital & Liquidity Position Decent
As of Sept. 30, 2025, Affiliated Managers had $476.1 million in cash and cash equivalents compared with $950 million as of Dec. 31, 2024. The company had $2.37 billion of debt, down from $2.62 billion as of Dec. 31, 2024.
Stockholders’ equity as of Sept. 30, 2025, was $3.34 billion, down from $3.35 billion as of Dec. 31, 2024.
Update on AMG Share Repurchases
During the third quarter, Affiliated Managers repurchased shares worth $77 million.
Our View on Affiliated Managers
Affiliated Managers is well-positioned for growth given the successful partnerships, focus on alternative strategies, global distribution capability and a diverse product mix. However, substantial intangible assets on the company's balance sheet and a tough operating backdrop remain 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
T. Rowe Price Group, Inc.’s (TROW - Free Report) third-quarter 2025 adjusted earnings per share of $2.81 beat the Zacks Consensus Estimate of $2.55. Also, the bottom line increased 9.3% year over year.
TROW's results benefited from a rise in investment advisory fees and capital allocation-based income. Also, higher AUM was another positive. However, higher expenses acted as a spoilsport.
Ameriprise Financial’s (AMP - Free Report) third-quarter 2025 adjusted operating earnings of $9.92 per share handily surpassed the Zacks Consensus Estimate of $9.60. The bottom line reflected a rise of 12.3% from the year-ago quarter.
AMP’s results benefited from higher revenues and a solid improvement in AUM and assets under administration balances. However, an increase in expenses was a headwind.