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Affiliated Managers (AMG) Posts In-Line Q1 Earnings

Have you been eager to see how Affiliated Managers Group Inc. AMG performed in Q1 in comparison with the market expectations? Let’s quickly scan through the key facts from this Massachusetts-based global asset management company’s earnings release this morning:

Earnings

Affiliated Managers came out with economic earnings of $2.94 per share, which came in line with the Zacks Consensus Estimate.

A fall in revenues was offset by lower operating expenses.

How Was the Estimate Revision Trend?

You should note that the earnings estimate revisions for Affiliated Managers depicted optimism prior to the earnings release. The Zacks Consensus Estimate has moved 3.2% up over the last 30 days.

Further, Affiliated Managers has a decent earnings surprise history. Before posting in-line earnings in Q1, the company delivered positive surprises in three of the prior four quarters. Overall, the company surpassed the Zacks Consensus Estimate by an average of 1.01% in the trailing four quarters.

Revenue Came In Lower Than Expected

Affiliated Managers posted revenues of $545.4 million, which missed the Zacks Consensus Estimate of $580.8 million. Moreover, it compared unfavorably with the year-ago number of $635.0 million.

Key Statistics

  • Net client cash inflows during the reported quarter were $5.1 billion.
     
  • Aggregate assets under management were nearly $642 billion as of Mar 31, 2016.


What Zacks Rank Says

The estimate revisions that we discussed earlier have driven a Zacks Rank #2 (Buy) for Affiliated Managers. However, since the latest earnings performance is yet to be reflected in the estimate revisions, the rank is subject to change. While things apparently look favorable, it all depends on what sense the just-released report makes to the analysts.

Check back later for our full write up on this Affiliated Managers earnings report!

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