Earnings summaries and quarterly performance for AFFILIATED MANAGERS GROUP.
Executive leadership at AFFILIATED MANAGERS GROUP.
Board of directors at AFFILIATED MANAGERS GROUP.
Research analysts who have asked questions during AFFILIATED MANAGERS GROUP earnings calls.
Alexander Blostein
Goldman Sachs
3 questions for AMG
Also covers: AB, AMP, APAM +31 more
Brian Bedell
Deutsche Bank
3 questions for AMG
Also covers: AMTD, APO, ARES +22 more
Patrick Davitt
Autonomous Research
3 questions for AMG
Also covers: ABL, APO, ARES +10 more
William Katz
TD Cowen
3 questions for AMG
Also covers: AB, AMTD, APAM +25 more
Daniel Fannon
Jefferies Financial Group Inc.
2 questions for AMG
Also covers: AB, AMTD, APO +27 more
Dan Fannon
Jefferies & Company Inc.
1 question for AMG
Also covers: AB, AMTD, BAM +22 more
Luke Bianculli
The Goldman Sachs Group, Inc.
1 question for AMG
Trevor Dodds
Jefferies Financial Group Inc.
1 question for AMG
Also covers: BILL
Recent press releases and 8-K filings for AMG.
AMG Discusses Strategic Pivot to Alternatives and 2026 Growth Outlook
AMG
M&A
Share Buyback
Guidance Update
- AMG is strategically pivoting towards alternatives, which currently comprise 55% of its run-rate EBITDA, with a goal to reach two-thirds in the coming years, driven by both organic growth and new investments.
- The company's M&A pipeline is strong, primarily focused on alternative strategies, particularly private markets. Typical acquisition enterprise values range from $250 million to $1 billion, with AMG investing $100-$500 million in cash equity per deal.
- AMG generates over $800 million annually in post-tax distributions from affiliates, which it allocates to new investments, existing affiliates, or share repurchases. The company has significantly increased share repurchases, with the CFO indicating over 500 for the year (2025), due to the attractive share price and confidence in its strategy.
- AMG expects a material acceleration in growth into 2026, driven by continued momentum in higher-fee, higher-margin alternative flows (both private markets and liquid alts) and the full impact of five new investments made in 2025.
11 hours ago
AMG Discusses Strategic Pivot to Alternatives and Strong Organic Growth Momentum
AMG
Revenue Acceleration/Inflection
Share Buyback
New Projects/Investments
- AMG has successfully pivoted its business towards alternative capabilities, which now comprise 55% of its EBITDA, with a strategic goal to reach two-thirds of the business in the next one to two years.
- The company has experienced significant acceleration in organic growth, with flows in alternatives exceeding $50 billion this year, largely driven by liquid alternatives and AQR's tax-aware strategies.
- AMG maintains a disciplined capital allocation framework, able to spend approximately $1 billion annually, and has significantly reduced its share count through increased repurchases, with plans to exceed 500 for the year in Q4 2025.
- The full impact of recent alternative flow momentum and five new investments made in 2025 is expected to create a step function going into 2026, suggesting continued growth.
11 hours ago
AMG Reports Significant Pivot to Alternatives and Accelerated Organic Growth
AMG
M&A
New Projects/Investments
Revenue Acceleration/Inflection
- AMG has successfully pivoted its business towards alternative capabilities, which now comprise over 50% of the company's EBITDA, with a strategic goal to reach two-thirds in the next one to two years.
- The company is experiencing significant acceleration in organic growth, with flows approaching the highest level in over a decade, including over $50 billion in alternative flows this year, two-thirds of which came from liquid alternatives.
- AMG's M&A strategy is focused on alternative firms, targeting typical enterprise values of $250 million-$1 billion and equity checks of $100-$500 million, with a strong pipeline for 2026.
- Capital allocation prioritizes new investments and investments in existing affiliates, alongside increased share repurchases, with an annual capacity to spend approximately $1 billion while maintaining leverage.
- Management expects a step function increase in performance for 2026, driven by sustained momentum in alternative flows and the full impact of recent new investments.
15 hours ago
AMG to Redeem Convertible Trust Preferred Securities
AMG
Debt Issuance
- AFFILIATED MANAGERS GROUP, INC. (AMG) announced on December 8, 2025, its intent to redeem all outstanding 5.15% Convertible Trust Preferred Securities due 2037 of AMG Capital Trust II.
- The redemption date is set for December 29, 2025, at a price equal to 100% of the principal amount plus accrued and unpaid interest.
- AMG intends to use the net proceeds from a previously announced senior notes offering to finance this redemption, aiming to simplify its capital structure.
- The redemption is not conditioned upon the consummation of the senior notes offering or any other financing condition.
1 day ago
River Road Asset Management Criticizes UniFirst Board for Rejecting Takeover Bid
AMG
Takeover Bid
M&A
Proxy Vote Outcomes
- River Road Asset Management, which holds a 4.9% total ownership interest in UniFirst (UNF), expressed profound disappointment with UNF's Board and management for rejecting Cintas' (CTAS) proposed acquisition of UniFirst for $275 per share in January 2025, considering it a breach of fiduciary duty.
- River Road highlighted UNF's lackluster operational track record since FY19, noting struggles with labor and benefits inflation, merchandise cost pressure, and a significant lag behind Cintas in operational metrics under current CEO Steve Sintros, leading to lower retention rates, slower new account wins, and margin erosion.
- Believing a sale represents the most compelling path to maximize shareholder value and eliminate execution risk, River Road intends to vote for Engine Capital's nominees at the annual meeting scheduled for December 15, 2025.
5 days ago
AMG Reports Strong Third Quarter 2025 Results
AMG
Earnings
Guidance Update
New Projects/Investments
- AMG reported third quarter 2025 revenue of $435 million, a 22% increase compared to Q3 2024, and adjusted EBITDA of $64 million, up 58% from the same period last year, primarily driven by the AMG Technologies segment.
- Net income attributable to shareholders for the third quarter of 2025 was $13 million, yielding $0.39 diluted earnings per share.
- As of September 30, 2025, AMG's liquidity was $419 million, consisting of $220 million of unrestricted cash and $199 million of revolving credit availability.
- The company increased its adjusted EBITDA outlook for full year 2025 from "$200 million, or more" to "$220 million, or more".
- AMG is divesting its natural graphite business, with the transaction expected to close by year-end 2025, and is expanding critical material processing facilities in the US, including chrome metal, niobium metal, antimony oxide, and titanium alloys capacity.
Nov 5, 2025, 7:38 PM
AMG Reports Q3 2025 Results with AUM Growth and Strong Capital Return
AMG
Earnings
Share Buyback
New Projects/Investments
- AMG's Assets Under Management (AUM) reached $803.6 billion as of September 30, 2025, with net client cash flows of $8.9 billion for Q3 2025, primarily driven by Private Markets and Liquid Alternatives.
- For Q3 2025, the company reported net income (controlling interest) of $212.4 million and diluted earnings per share of $6.87.
- AMG has significantly reduced its adjusted diluted share count by 37% since Q3 2020, returning approximately $2.8 billion in excess capital to shareholders over the last five years.
- The company's strategic focus has led to Alternatives contributing 52% to LTM EBITDA, reflecting an evolving business mix towards high-growth areas.
Nov 3, 2025, 1:30 PM
AMG Reports Strong Q3 2025 Results and Positive 2026 Outlook
AMG
Earnings
Guidance Update
New Projects/Investments
- AMG reported strong Q3 2025 financial results, with adjusted EBITDA growing 17% year-over-year to $251 million and economic earnings per share increasing 27% year-over-year to $6.10.
- The company experienced significant organic growth, with $9 billion in firm-wide net inflows in alternative strategies during Q3 2025, contributing to $17 billion year-to-date and a 3% annualized organic growth rate. Alternative assets under management (AUM) reached $353 billion, representing 55% of EBITDA on a run-rate basis.
- AMG provided positive guidance, expecting Q4 2025 adjusted EBITDA between $325 million and $370 million and economic earnings per share between $8.10 and $9.26. The company anticipates a meaningful increase in full-year adjusted EBITDA and economic EPS in 2026.
- The company has been active in capital allocation, committing approximately $1.5 billion to growth investments and share repurchases year-to-date 2025 , and increasing its full-year share repurchase guidance to at least $500 million. Strategic actions include four new investment partnerships and a collaboration with BBH Credit Partners, alongside the sale of stakes in Peppertree and ComVest.
Nov 3, 2025, 1:30 PM
AMG Reports Strong Q3 2025 Financial and Operating Results
AMG
Earnings
Share Buyback
New Projects/Investments
- AMG reported Diluted EPS of $6.87 and Economic EPS of $6.10 for the third quarter of 2025, with Economic EPS reflecting 27% growth relative to the prior-year quarter.
- The company generated net client cash inflows of approximately $9 billion in the third quarter and $17 billion year-to-date, primarily driven by alternative strategies.
- Net Income (controlling interest) for Q3 2025 was $212 million, which included a gain of approximately $100 million from the Peppertree transaction.
- AMG repurchased approximately $77 million in common stock during the third quarter, contributing to total year-to-date share repurchases of approximately $350 million.
- The company announced a strategic collaboration with BBH and a related investment in BBH Credit Partners to expand its participation in alternative strategies for the U.S. wealth marketplace.
Nov 3, 2025, 12:09 PM
AMG Reports Strong Q3 2025 Financial Results and Client Inflows
AMG
Earnings
Dividends
Share Buyback
- Affiliated Managers Group (AMG) reported strong financial results for Q3 2025, with Economic Earnings per share growing 27% and Adjusted EBITDA rising 17% compared to the prior year.
- The company experienced approximately $9 billion in net client cash inflows during Q3 2025, largely driven by robust demand for alternative investment strategies.
- AMG's Assets Under Management (AUM) reached $803.6 billion in Q3 2025, exceeding analyst estimates and marking a 10.3% year-on-year growth.
- Adjusted EPS for Q3 2025 was $6.10, beating profit estimates, while revenue increased 2.2% year-over-year to $528 million.
- AMG's Board of Directors declared a quarterly dividend of $0.01 per share, and the company executed approximately $350 million in share repurchases year to date.
Nov 3, 2025, 12:06 PM
Quarterly earnings call transcripts for AFFILIATED MANAGERS GROUP.
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