Financial Data and Key Metrics Changes - AMG reported record economic earnings per share in 2024, with full-year earnings up 10% year-over-year, reflecting a disciplined capital allocation strategy [6][29] - Adjusted EBITDA for Q4 was $282 million, down 5% year-over-year, while full-year adjusted EBITDA was $973 million, up 4% compared to 2023 [28] - Economic earnings per share for Q4 were $6.53, and for the full year, it was $21.36, benefiting from a record year of share repurchases [29] Business Line Data and Key Metrics Changes - Private markets affiliates raised approximately $24 billion in 2024, with $6 billion raised in Q4, representing annualized organic growth of about 20% [7][17] - Liquid alternatives saw $2 billion of net inflows in Q4, marking the second consecutive quarter of positive flows [19] - Net client cash outflows were $8 billion in Q4, primarily due to challenges in equities, which saw net outflows of approximately $16 billion [16][20] Market Data and Key Metrics Changes - AMG's U.S. wealth platform's alternatives AUM grew more than tenfold over the past five years, ending the year at over $6 billion [22] - The company launched three new evergreen products and filed for two additional strategies anticipated to go live later this year [23] - AMG and its affiliates collectively manage over $30 billion in total AUM for alternative products in wealth markets globally [24] Company Strategy and Development Direction - AMG is strategically evolving to increase exposure to alternatives, enhancing long-term growth prospects and cash flow stability [11][12] - The partnership with NorthBridge Partners aligns with AMG's strategy of investing in high-quality independent firms in areas of secular growth [9][10] - The company aims to continue investing in new affiliate partnerships and existing affiliates to drive growth [13] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the ongoing strength of private markets fundraising and improving trends in liquid alternatives [15][16] - The change in administration is viewed as potentially favorable for new investments, with expectations of lower regulation and increased business development [47] - AMG enters 2025 with significant momentum and a strong pipeline of new investment opportunities [25][37] Other Important Information - AMG repurchased $120 million in shares in Q4, totaling approximately $700 million for the year, representing 13% of shares outstanding [36] - The company maintains a strong liquidity position with $625 million in cash and $475 million in investments [35] Q&A Session Summary Question: Can you discuss the pipeline for new investments and any impacts from the change in administration? - Management indicated a strong pipeline for new investments, with NorthBridge being a recent addition, and noted that the change in administration could favor new investments due to potential regulatory easing [40][47] Question: Is the NorthBridge model the future direction for investments, or are larger deals also possible? - Management confirmed that both mid-sized and larger deals are in the pipeline, with a focus on firms that can leverage AMG's resources for growth [50][52] Question: What trends are seen in retail alternative products and active ETFs? - Management highlighted a strong focus on product development in the U.S. wealth channel, with several new products launched and ongoing interest in active ETFs as a growth driver [56][64]

Q4 2024 Investor Overview AMG: Strategic Partner to Industry-Leading Independent Investment Firms 30+ years of partnering with leading investment specialists 35+ independent Affiliates offering diverse suite of investment products All data as of 12/31/24. 2 Focus on Alternatives: Approximately 50% of AMG Earnings Generated by Alternatives Liquid Alternatives ~$141B AUM Differentiated Long-Only ~$432B AUM Private Markets ~$135B AUM Alternatives include private markets and liquid alternatives strategies. Diff ...

Core Viewpoint - Affiliated Managers Group (AMG) reported quarterly earnings of $6.53 per share, exceeding the Zacks Consensus Estimate of $6.02 per share, but down from $6.86 per share a year ago, indicating an earnings surprise of 8.47% [1][2] Financial Performance - The company posted revenues of $524.2 million for the quarter ended December 2024, missing the Zacks Consensus Estimate by 1.17%, compared to $502.7 million in the same quarter last year [2] - Over the last four quarters, the company has surpassed consensus EPS estimates three times but has not beaten consensus revenue estimates [2] Stock Performance - Affiliated Managers shares have declined approximately 1.4% since the beginning of the year, while the S&P 500 has gained 3.1% [3] - The current Zacks Rank for the stock is 4 (Sell), indicating expectations of underperformance in the near future [6] Earnings Outlook - The current consensus EPS estimate for the upcoming quarter is $5.15, with expected revenues of $533.66 million, and for the current fiscal year, the EPS estimate is $22.83 on revenues of $2.19 billion [7] - The trend for estimate revisions ahead of the earnings release was unfavorable, which may impact future stock performance [6] Industry Context - The Financial - Investment Management industry, to which Affiliated Managers belongs, is currently ranked in the bottom 28% of over 250 Zacks industries, suggesting potential challenges ahead [8] - Empirical research indicates a strong correlation between near-term stock movements and trends in earnings estimate revisions, which could be a useful metric for investors [5]

Financial Performance - AMG reported EPS of $4.92 and Economic EPS of $6.53 for Q4 2024, with full-year EPS of $15.13 and Economic EPS of $21.36[1]. - Economic earnings per share grew by 10% year-over-year, reflecting AMG's strategic evolution and disciplined capital allocation[2]. - The company reported net income of $162.1 million for Q4 2024, down from $196.2 million in Q4 2023[12]. - Consolidated revenue for the year ended December 31, 2023, was $2,057.8 million, a slight increase from $2,040.9 million in 2024[14]. - Net income attributable to controlling interest decreased to $672.9 million in 2023 from $511.6 million in 2024, reflecting a decline of approximately 25%[14]. - Earnings per share (diluted) for 2023 was $17.42, down from $15.13 in 2024, indicating a decrease of about 13.1%[14]. - Adjusted EBITDA for the full year was $973.1 million, compared to $935.7 million in the previous year[5]. - Adjusted EBITDA (controlling interest) rose to $935.7 million in 2023, compared to $973.1 million in 2024, showing a decrease of approximately 3.8%[15]. - Economic net income (controlling interest) was $717.8 million in 2023, slightly down from $701.6 million in 2024, a decline of about 2.4%[15]. Assets and Liabilities - AMG's total assets under management (AUM) increased to approximately $708 billion by the end of 2024, up from $672.7 billion at the end of 2023[7]. - Total assets decreased from $9,059.6 million in 2023 to $8,830.9 million in 2024, a reduction of approximately 2.5%[16]. - Cash and cash equivalents increased to $950.0 million in 2024 from $813.6 million in 2023, representing a growth of about 16.8%[16]. - Total liabilities increased from $4,096.1 million in 2023 to $4,182.2 million in 2024, an increase of about 2.1%[16]. Shareholder Actions - The company repurchased approximately $700 million in common stock, representing about 13% of shares outstanding in 2024[5]. - AMG's fourth-quarter cash dividend was set at $0.01 per share, payable on March 4, 2025[6]. - Average shares outstanding (diluted) decreased from 42.2 million in 2023 to 36.1 million in 2024, a reduction of approximately 14.5%[14]. Market Activity - AMG's private markets Affiliates raised approximately $24 billion in 2024, indicating strong demand for specialized strategies[3]. - AMG announced a partnership with NorthBridge Partners, focusing on industrial logistics real estate, enhancing its private markets participation[4]. - Net client cash flows for the year were negative at $(13.9) billion, with Q4 2024 net client cash flows at $(8.3) billion[5]. Forward-Looking Statements - AMG's forward-looking statements include expectations regarding business performance, financial results, and liquidity[25]. - The company anticipates potential changes in investment performance and growth rates of its Affiliates[25]. - AMG emphasizes the importance of competition for acquisitions in the investment management sector[25]. - The company highlights risks related to the availability of equity and debt financing affecting its operations[25]. - AMG's earnings contributions are influenced by the mix of Affiliate performances[25]. - The company does not undertake any obligation to publicly update forward-looking statements except as required by law[25]. - AMG encourages investors to regularly consult its Investor Relations section for important financial information[26].

Financial Performance - Company reported EPS of $4.92 and Economic EPS of $6.53 for Q4 2024, with full-year EPS of $15.13 and Economic EPS of $21.36 [1][6] - Net income (controlling interest) for Q4 2024 was $162.1 million, down from $196.2 million in Q4 2023 [15] - Full-year net income (controlling interest) decreased to $511.6 million in 2024 from $672.9 million in 2023 [18] Growth Strategy - Company achieved a 10% growth in Economic EPS for 2024 compared to the previous year, attributed to strategic evolution and disciplined capital allocation [2][6] - AMG's private markets Affiliates raised approximately $24 billion in 2024, indicating strong demand for specialized strategies [3] - The company announced a new partnership with NorthBridge Partners, focusing on last-mile logistics, a sector benefiting from the digital economy [4] Assets Under Management (AUM) - AUM increased from $672.7 billion at the end of 2023 to $707.9 billion at the end of 2024 [5][9] - Average AUM rose from $660.3 billion in 2023 to $700.5 billion in 2024 [5] Capital Management - Company repurchased approximately $700 million in common stock in 2024, representing about 13% of shares outstanding [6][8] - A cash dividend of $0.01 per share was announced for Q4 2024, payable in March 2025 [8] Financial Highlights - Consolidated revenue for 2024 was $2,040.9 million, slightly down from $2,057.8 million in 2023 [17] - Total consolidated expenses increased to $1,507.8 million in 2024 from $1,496.6 million in 2023 [17] - Adjusted EBITDA (controlling interest) for 2024 was $973.1 million, up from $935.7 million in 2023 [19]

Company reports EPS of $4.92, Economic EPS of $6.53 in the fourth quarter of 2024EPS of $15.13, Economic EPS of $21.36 for the full year 2024 New partnership with NorthBridge Partners, a private markets manager specializing in industrial logistics real estate assetsNet income (controlling interest) of $512 million, Economic Net Income (controlling interest) of $702 million10% full-year Economic Earnings per share growth reflects AMG’s ongoing strategic evolution and disciplined capital allocation strategyRe ...

AMG invests in NorthBridge, a private markets manager specializing in industrial logistics real estate assets NorthBridge to leverage AMG’s strategic capabilities to enhance its long-term success and continue to build an enduring firm Partnership broadens AMG’s exposure to secular growth areas WEST PALM BEACH, Fla., Feb. 06, 2025 (GLOBE NEWSWIRE) -- AMG, a strategic partner to leading independent investment management firms globally, today announced that it acquired a minority equity interest in NorthBr ...

Conference Call Scheduled for 8:30 a.m. Eastern Time WEST PALM BEACH, Fla., Jan. 31, 2025 (GLOBE NEWSWIRE) -- AMG (NYSE: AMG) will report financial and operating results for the fourth quarter and full year ended December 31, 2024 on Thursday, February 6, 2025. A conference call will be held at 8:30 a.m. Eastern time on the same day. In addition to quarterly results, the conference call may include discussion of management’s expectations of future financial and operating results. Jay C. Horgen, President an ...

Wall Street expects a year-over-year decline in earnings on higher revenues when Affiliated Managers Group (AMG) reports results for the quarter ended December 2024. While this widely-known consensus outlook is important in gauging the company's earnings picture, a powerful factor that could impact its near-term stock price is how the actual results compare to these estimates.The earnings report might help the stock move higher if these key numbers are better than expectations. On the other hand, if they mi ...

Affiliated Managers Group ((AMG) is a global asset manager with equity investments in a large group of investment management firms or affiliates.On the whole, the affiliates manage more than 500 investment products across each major product category – global, international and emerging markets equities, domestic equities, alternative and fixed income products. As of Sept. 30, 2024, Affiliated Managers had a total AUM of $728.4 billion.AMG shares sits at a Zacks #4 Rank after analysts have slowly ratcheted d ...