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AMG Reports Financial and Operating Results for the Fourth Quarter and Full Year 2024
AMGAffiliated Managers (AMG) Newsfilter·2025-02-06 11:50

Financial Performance - Company reported EPS of 4.92andEconomicEPSof4.92 and Economic EPS of 6.53 for Q4 2024, with full-year EPS of 15.13andEconomicEPSof15.13 and Economic EPS of 21.36 [1][6] - Net income (controlling interest) for Q4 2024 was 162.1million,downfrom162.1 million, down from 196.2 million in Q4 2023 [15] - Full-year net income (controlling interest) decreased to 511.6millionin2024from511.6 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 24billionin2024,indicatingstrongdemandforspecializedstrategies[3]−ThecompanyannouncedanewpartnershipwithNorthBridgePartners,focusingonlast−milelogistics,asectorbenefitingfromthedigitaleconomy[4]AssetsUnderManagement(AUM)−AUMincreasedfrom24 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 707.9billionattheendof2024[5][9]−AverageAUMrosefrom707.9 billion at the end of 2024 [5][9] - Average AUM rose from 660.3 billion in 2023 to 700.5billionin2024[5]CapitalManagement−Companyrepurchasedapproximately700.5 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 0.01persharewasannouncedforQ42024,payableinMarch2025[8]FinancialHighlights−Consolidatedrevenuefor2024was0.01 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 2,057.8millionin2023[17]−Totalconsolidatedexpensesincreasedto2,057.8 million in 2023 [17] - Total consolidated expenses increased to 1,507.8 million in 2024 from 1,496.6millionin2023[17]−AdjustedEBITDA(controllinginterest)for2024was1,496.6 million in 2023 [17] - Adjusted EBITDA (controlling interest) for 2024 was 973.1 million, up from $935.7 million in 2023 [19]