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Sep 30
AMG Q3 2025 Earnings Report
AMG reported strong Q3 2025 earnings driven by robust inflows into alternative strategies and continued expansion in the U.S. wealth market.
Key Takeaways
Affiliated Managers Group (AMG) delivered a solid Q3 2025 with significant growth in net income and adjusted EBITDA, propelled by $9 billion in net inflows and performance from alternative investments.
Net income attributable to controlling interest was $212.4 million, up from $123.6 million last year.
EPS rose to $6.87, and economic EPS reached $6.10, a 27% increase YoY.
Net client cash inflows totaled $8.9 billion, primarily into alternative strategies.
Adjusted EBITDA (controlling interest) increased 17% to $250.9 million.
AMG
AMG
Forward Guidance
AMG highlighted strong momentum in alternative strategies, supported by strategic partnerships and capital allocation; management anticipates sustained earnings growth through market expansion.
Positive Outlook
- Strong demand for alternative strategies continues to drive inflows.
- New partnership with BBH enhances alternative credit offerings.
- Share repurchase strategy adds value to shareholders.
- AMG sees opportunities in the U.S. wealth market.
- Strong cash flow generation supports long-term investments.
Challenges Ahead
- Lower cash and cash equivalents vs. prior period.
- Headwinds from affiliate equity adjustments.
- Modest revenue growth YoY despite strong inflows.
- Continued reliance on non-GAAP adjustments for earnings clarity.
- Unspecified market risks and economic uncertainties remain.