NYSE$AMG

Affiliated Managers Group · Q1 2023 earnings

Q1 2023 earnings · · Investor relations

Briefing

AMG reported its financial and operating results for the first quarter of 2023.

AMG reported Economic Earnings per share of $4.18 for the first quarter, reflecting a unique business profile and the positive impact of their capital allocation strategy. The company's Affiliates are positioned to benefit as clients adjust their portfolio allocations. AMG is confident in their ability to create long-term shareholder value through strategic partnerships and disciplined capital allocation.

  • Economic Earnings per share was reported as $4.18 for the first quarter.
  • The company continued execution of $225 million accelerated share repurchase program.
  • AMG's aggregate assets under management were approximately $668 billion as of March 31, 2023.
  • A first-quarter cash dividend of $0.01 per share of common stock was announced.

Headline financials

Total Revenue

$517M

Previous: $607M-14.8%
EPS (adj)

$4.18

Previous: $4.65-10.1%
Total AUM

$668B

Previous: $777B-14.0%
Average AUM

$660B

Previous: $787B-16.1%
Aggregate Fees

$1.51B

Previous: $1.33B+13.1%
Capital Expenditures

-$1.9M

Previous: -$3.7M+48.6%
Free Cash Flow

$133M

Previous: $142M-6.8%
Net Income

$135M

Previous: $146M-7.9%
Operating Income

-$381M

Previous: -$395M+3.7%
Gross Profit

$517M

Previous: $607M-14.8%
Cash & Equivalents

$833M

Previous: $501M+66.2%
Total Assets

$8.9B

Previous: $8.57B+3.8%
Stock-Based Comp

$25.3M

Previous: $30.9M-18.1%

Revenue & EPS history

AMG · Revenue · Quarterly

$517M

Q1 2023-14.8%vs Q1 2022
Beat estimate in 6 of 15 quarters(40%)
ActualEstimate

Forward guidance

AMG expects to continue to enhance their participation in secular growth areas and further diversify their business. They are confident in their ability to invest in attractive growth opportunities and return excess capital to shareholders.

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 2023

Historical avgQ1 2023

+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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