Affiliated Managers (US:AMG) Newsfilterยท2025-02-06 11:50Financial 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]