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Mar 31, 2020
AMG Q1 2020 Earnings Report
AMG's financial and operating results for Q1 2020 were reported, with Economic EPS at $3.16. The company addressed COVID-19 impact and executed long-term growth strategy, including a partnership with Comvest Capital Partners and a strategic relationship with iCapital. The company repurchased $70 million in common stock.
Key Takeaways
AMG reported a net loss of $15.6 million, and a loss per share of $0.33. Economic EPS was $3.16. The company focused on addressing the COVID-19 pandemic, executed its long-term growth strategy, and capitalized on balance sheet strength by repurchasing $70 million in common stock.
Addressed the impact of the COVID-19 pandemic on AMG's Affiliates, business, employees, and surrounding communities.
Executed long-term growth strategy by completing partnership with Comvest Capital Partners and announcing strategic relationship with iCapital.
Capitalized on balance sheet strength and flexibility by repurchasing $70 million in common stock.
Reallocated $50 million of capital toward share repurchases, in lieu of dividend payments, over the balance of 2020.
Forward Guidance
The company did not provide specific forward guidance but indicated that they are well-positioned to invest in attractive growth opportunities to create long-term shareholder value.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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