NYSE$AMG

Affiliated Managers Group · Q1 2022 earnings

Q1 2022 earnings · · Investor relations

Briefing

AMG reported EPS of $3.44 and Economic EPS of $4.65. The company saw a strategic combination of Affiliate BPEA with EQT and closed an additional investment in Systematica Investments.

AMG reported strong results in Q1 2022, with a 9% growth in Economic Earnings per Share. The company's net client cash flows reflected strength in alternative and ESG strategies, and excluding certain quantitative strategies, were positive for the quarter. A strategic combination of BPEA with EQT was announced, and an additional investment was made in Systematica Investments.

  • Economic Earnings per Share grew by 9% year-over-year, driven by new investments, strong Affiliate performance, and share repurchases.
  • Net client cash flows reflected ongoing strength in alternative and ESG strategies.
  • AMG will receive cash and stock valued at approximately $1 billion from the strategic combination of BPEA with EQT.
  • An additional investment was made in Systematica Investments, a leading liquid alternatives firm.

Headline financials

Total Revenue

$607M

Previous: $559M+8.6%
EPS (adj)

$4.65

Previous: $4.28+8.6%
Total AUM

$777B

Previous: $738B+5.2%
Average AUM

$787B

Previous: $734B+7.3%
Aggregate Fees

$1.33B

Previous: $1.41B-5.9%
Capital Expenditures

-$3.7M

Previous: -$700K-428.6%
Free Cash Flow

$142M

Previous: $149M-4.6%
Net Income

$146M

Previous: $150M-2.6%
Operating Income

-$395M

Previous: -$379M-4.4%
Gross Profit

$607M

Previous: $559M+8.6%
Cash & Equivalents

$501M

Previous: $766M-34.6%
Total Assets

$8.57B

Previous: $7.68B+11.6%
Stock-Based Comp

$30.9M

Previous: $34.9M-11.5%

Revenue & EPS history

AMG · Revenue · Quarterly

$607M

Q1 2022+8.6%vs Q1 2021
Beat estimate in 12 of 16 quarters(75%)
ActualEstimate

Forward guidance

AMG is confident in its ability to generate additional shareholder value through the disciplined execution of its strategy, including investments in new and existing Affiliates, as well as its value-added strategic capabilities.

Tailwinds

  • The current environment presents unique opportunities for continued growth given the diversity of AMG's business.
  • The quality of AMG's Affiliates.
  • AMG's strong and flexible capital position.
  • AMG's partnership approach continues to resonate strongly with the highest-quality partner-owned investment firms.
  • AMG is confident in its ability to generate additional shareholder value over time.

Headwinds

  • Changes in the securities or financial markets or in general economic conditions.
  • Pandemics and related changes in the global economy, capital markets and the asset management industry.
  • The availability of equity and debt financing.
  • Competition for acquisitions of interests in investment management firms.
  • Uncertainties relating to closing of pending investments or transactions and potential changes in the anticipated benefits thereof.

Historical earnings impact

How earnings announcements have historically affected this stock's price.

Avg. return before/after earnings

Based on 20 quarterly earnings reports · overlaid with Q1 2022

Historical avgQ1 2022

+0.7%

Avg return

Earnings day

+0.7%

Avg return

5 days after

+0.7%

Avg return

30 days after

47%

32 / 68 earnings

Positive

+26.4%

Q4 2020

Best reaction

-15.1%

Q1 2019

Worst reaction

Earnings price reactions
QuarterReport dateReaction (Day 0)+5 days+30 days
Q1 2026-2.6%-1.6%+9.8%
Q4 2025+6.8%+4.8%-11.7%
Q3 2025+8.3%+9.0%+14.1%
Q1 2025+3.3%+4.1%+4.0%
Q4 2024+0.2%-5.2%-12.5%
Q3 2024-8.3%-4.6%-4.0%
Q2 2024+4.4%-4.2%-3.3%
Q1 2024-3.0%-1.7%-1.2%
Q4 2023+3.0%+4.2%+6.2%
Q3 2023+1.7%+3.5%+6.7%
Q2 2023-13.5%-14.2%-18.6%
Q1 2023-0.8%-1.9%-3.7%
Q4 2022-3.8%-6.0%-11.0%
Q3 2022+16.0%+24.2%+27.5%
Q2 2022+1.5%+2.7%+0.8%
Q1 2022+3.6%+2.7%+4.7%
Q4 2021+0.4%-2.8%-11.0%
Q3 2021+12.1%+10.8%-0.3%
Q2 2021-5.2%-4.6%+4.0%
Q1 2021+1.1%+7.7%+3.2%
Q4 2020+26.4%+31.6%+25.3%
Q3 2020-3.2%-5.1%+14.3%
Q2 2020-0.9%-2.1%+0.1%
Q1 2020+13.0%+7.8%+20.2%
Q4 2019+2.8%+2.1%-5.5%
Q3 2019+8.7%+6.2%+11.1%
Q2 2019-3.6%-9.9%-16.7%
Q1 2019-15.1%-14.8%-20.5%
Q4 2018+4.8%-0.1%+1.4%
Q3 2018-0.3%+1.1%-1.5%
Q2 2018+5.9%+0.7%-2.0%
Q1 2018-3.5%-4.9%-5.4%
Q4 2017-5.8%-8.6%-12.2%
Q3 2017-2.2%-2.8%+4.2%
Q2 2017+4.1%+1.1%-2.6%
Q1 2017-6.5%-6.6%-7.1%
Q4 2016+5.5%+9.5%+17.2%
Q3 2016-2.5%-4.0%+7.4%
Q2 2016-3.9%-0.3%-3.2%
Q1 2016-5.5%
Q4 2015-7.4%
Q3 2015-6.3%
Q2 2015+0.1%
Q1 2015+1.2%
Q4 2014-2.2%
Q3 2014-3.9%
Q2 2014-0.5%
Q1 2014+10.3%
Q4 2013-0.1%
Q3 2013+0.8%
Q2 2013+4.5%
Q1 2013-0.7%
Q4 2012-0.3%
Q3 2012+5.8%
Q2 2012+2.2%
Q1 2012+0.8%
Q4 2011+2.0%
Q3 2011-0.6%
Q2 2011+2.7%
Q1 2010+0.0%
Q1 2011+2.2%
Q4 2008-2.1%
Q4 2010-2.1%
Q3 2009-0.1%
Q3 2010-0.1%
Q2 2009-0.8%
Q4 2009-0.8%
Q2 2010-0.8%

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