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Mar 31, 2024
AMG Q1 2024 Earnings Report
AMG reported Economic Earnings per share of $5.37, a 28% increase relative to the year-ago quarter, reflecting Affiliates’ excellent business and investment performance and the positive impact of capital allocation strategy.
Key Takeaways
AMG reported first quarter EPS of $4.14 and Economic EPS of $5.37. Net Income (controlling interest) was $150 million, and Economic Net Income (controlling interest) was $187 million. Economic Earnings per share increased 28% year-over-year, driven by strong business momentum and the positive impact of the capital allocation strategy. The company issued $450 million of 40-year junior hybrid debt and repurchased approximately $150 million in common stock.
AMG reported Economic Earnings per share of $5.37, a 28% increase relative to the year-ago quarter.
The company's strategy to magnify the advantages of its Affiliates, while preserving their independence and ownership culture, was illustrated by ongoing collaboration with Pantheon.
AMG continued to invest capital and resources alongside Pantheon to support their strategic growth in delivering private markets solutions to the global wealth market.
AMG enhanced its financial flexibility by extending the duration of its debt and the balance sheet is in an excellent position.
Forward Guidance
AMG is uniquely positioned to create meaningful incremental shareholder value over time.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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