Affiliated Managers Group Stock Earnings Reports

AMG delivered a strong second quarter of 2025 with economic EPS up 15% year-over-year to $5.39 and adjusted EBITDA of $220 million. The firm generated more than $8 billion in net client cash inflows, driven by a record quarter of alternative strategy inflows (roughly $19 billion) that more than offset about $11 billion of outflows in active equities and multi-asset/fixed income. AMG has rapidly grown its alternatives footprint: roughly $55 billion of alternative AUM was added in H1 2025, alternative AUM now stands at approximately $331 billion across 15+ affiliates, and private markets AUM is about $150 billion. The company announced four new partnerships in 2025 (NorthBridge, Verition, Qualitas Energy and Montefiore), completed the Verition investment and monetized its Peppertree stake (≈$260M pretax proceeds), and expects these and other recent investments to be modestly accretive in 2026 with a larger step-up in earnings next year. Capital allocation remains balanced: nearly $1.2 billion committed to growth and repurchases year-to-date, $273 million repurchased YTD (≈$100 million in Q2) and a target of ~$400 million of repurchases for full-year 2025. Third-quarter guidance: adjusted EBITDA $230–240 million and economic EPS $5.62–5.87 (assumed share count 29.4M); management reiterates a strong balance sheet and the expectation that alternatives will continue to increase their contribution to EBITDA (currently ~55% and targeted ~2/3 over time).