NYSE$AMG

Affiliated Managers Group · Q4 2021 earnings

Q4 2021 earnings · · Investor relations

Briefing

AMG reported EPS of $4.17 and Economic EPS of $6.10.

AMG reported excellent results in Q4 2021, with positive client cash flows and significant net inflows in liquid and illiquid alternative strategies. The company's strategic business evolution toward secular growth areas, along with successful execution on growth strategies, positions it well for future growth.

  • AMG generated excellent results in 2021, including year-over-year growth of 33% in Adjusted EBITDA and 37% in Economic Earnings per Share.
  • Client cash flows were positive for the quarter and full year, excluding certain quantitative strategies.
  • Liquid and illiquid alternative strategies generated $12 billion in net inflows during the quarter, reflecting AMG's strategic business evolution toward secular growth areas.
  • AMG successfully executed on its growth strategy, partnering with new Affiliates, accelerating growth at existing Affiliates, and enhancing strategic capabilities.

Headline financials

Total Revenue

$692M

Previous: $554M+24.8%
EPS (adj)

$6.10

Previous: $4.22+44.5%
Total AUM

$814B

Previous: $716B+13.6%
Average AUM

$810B

Previous: $701B+15.5%
Capital Expenditures

$3.5M

Previous: $1.7M+105.9%
Free Cash Flow

$358M

Previous: $381M-5.9%
Net Income

$179M

Previous: $116M+54.0%
Operating Income

$368M

Previous: $234M+57.1%
Gross Profit

$692M

Previous: $554M+24.8%
Cash & Equivalents

$909M

Previous: $1.04B-12.6%
Total Assets

$8.88B

Previous: $7.89B+12.5%
Stock-Based Comp

$35.8M

Previous: $36.5M-1.9%

Revenue & EPS history

AMG · Revenue · Quarterly

$692M

Q4 2021+24.8%vs Q4 2020
Beat estimate in 13 of 16 quarters(81%)
ActualEstimate

Forward guidance

AMG entered 2022 with increased earnings power, a strong and flexible balance sheet, and an outstanding opportunity to drive further earnings growth and generate significant long-term value for its 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 Q4 2021

Historical avgQ4 2021

+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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