Affiliated Managers Group Stock Earnings Reports

AMG reported record Q1 2026 results driven by strong organic growth in alternatives and continued capital allocation execution. Key financials: adjusted EBITDA of ~$317 million (up 39% YoY), economic earnings per share of $8.23 (up 58% YoY), and AUM at a record $882 billion. Net client cash inflows were a record $22+ billion in the quarter and $52 billion over the last 12 months (7% organic growth), led by liquid alternatives ($25B) and private markets ($4B). Management highlighted four secular growth drivers: infrastructure, secondary solutions, absolute return strategies, and tax-aware long/short strategies. AMG continues to expand via selective affiliate investments (closed BBH Credit Partners; new/expanded investments in Highbrook and Garda) and is repurchasing shares aggressively (Q1 buybacks ~$186M; >$700M buybacks over 12 months, ~10% reduction in shares). Balance sheet is strong with low leverage, long-dated debt, and record after-tax cash flows (~$1B annually). Q2 guidance: adjusted EBITDA $290M–$305M and estimated economic EPS $7.60–$8.01 (midpoint implies ~45% YoY growth vs Q2 2025). Management emphasizes AMG’s diversified affiliate model, durable fundraising across channels, disciplined capital allocation, and opportunity to deploy capital into attractively valued partners and share repurchases. Risks noted: market volatility and headline-driven noise around individual affiliates (e.g., AQR) but management stresses the firm’s diversification and resilience.