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Jun 30, 2021
AMG Q2 2021 Earnings Report
AMG reported EPS of $2.55 and Economic EPS of $4.03, driven by the execution of its strategy and the quality of its Affiliate partner group.
Key Takeaways
AMG's Q2 2021 results showed a 40% growth in Adjusted EBITDA and a 47% increase in Economic earnings per share compared to the previous year. Net client cash flows were positive, excluding certain quantitative strategies, with strength in private markets, specialty fixed income, ESG, and U.S. equity strategies. The company also announced a partnership with Parnassus Investments and completed the evolution of its U.S. wealth distribution platform.
Adjusted EBITDA grew by 40% year-over-year, driven by Affiliate investment performance.
Economic earnings per share increased by 47% compared to the year-ago quarter.
Net client cash flows were positive, excluding certain quantitative strategies.
Partnership announced with Parnassus Investments, enhancing strategic participation in ESG.
Forward Guidance
AMG's forward business momentum continues to accelerate as existing Affiliates deliver excellent investment performance, and the company invests in new Affiliates operating in areas of secular growth. AMG sees an attractive ongoing opportunity to establish new partnerships, given the favorable transaction environment, AMG's strong competitive position, and the increasing demand for partnership solutions.
Positive Outlook
- Existing Affiliates are delivering excellent investment performance.
- AMG is investing in new Affiliates in areas of secular growth.
- Favorable transaction environment for establishing new partnerships.
- AMG has a strong competitive position.
- Increasing demand for AMG's partnership solutions.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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