Affiliated Managers Group Stock Earnings Reports

AMG reported a very strong first quarter of 2026 with record results across AUM, flows and earnings. Key financials: AUM reached a record $882 billion; adjusted EBITDA was ~$317 million (up 39% YoY); economic earnings per share were $8.23 (up 58% YoY). Net client cash flows topped $22 billion in Q1 and $52 billion over the last 12 months, driven by alternatives (liquid alternatives and private markets). Management highlighted four primary organic growth drivers: infrastructure, secondary solutions, absolute return strategies, and tax-aware long/short strategies. Liquid alternatives produced $25 billion of inflows in Q1; private markets raised ~$4 billion. AMG completed strategic investments (BBH Credit Partners, Highbrook Investors, follow-on in Garda) and repurchased ~$186 million of stock in Q1 (shares outstanding down ~10% over 12 months). The firm expects full-year share repurchases of roughly $500 million (subject to conditions). Q2 guidance: adjusted EBITDA $290–$305 million and economic EPS $7.60–$8.01 (midpoint implies ~45% YoY growth vs. Q2 2025). Management emphasized a diversified affiliate model, strong balance sheet (low leverage, long-dated debt, $1B+ annual after-tax cash flows), disciplined capital allocation, and opportunity to deploy capital as market dislocations create attractive partnership and investment prospects.