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Jun 30, 2023
AMG Q2 2023 Earnings Report
Reported EPS of $3.25 and Economic EPS of $4.45; announced partnership with Forbion; completed $225 million accelerated share repurchase program.
Key Takeaways
AMG reported a 10% increase in Economic Earnings per share year-over-year, driven by disciplined capital allocation. The company announced a partnership with Forbion, expanding its presence in private markets and life sciences. AMG's capital position will be further enhanced by the proceeds from the Veritable transaction.
Economic Earnings per share increased 10% year-over-year.
Completed $225 million accelerated share repurchase program and repurchased an additional $44 million of common stock.
Announced partnership with Forbion, a leading European life sciences venture capital and growth equity firm.
Gross proceeds of approximately $294 million will be received upon the closing of the Veritable transaction.
Forward Guidance
AMG remains confident in its ability to generate significant additional shareholder value over time, as it invests in new and existing Affiliates while also returning excess capital to shareholders within its disciplined capital allocation framework.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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