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Sep 30, 2024
Ameriprise Q3 2024 Earnings Report
Ameriprise demonstrated strong financial performance, driven by growth in revenue and earnings across its business segments.
Key Takeaways
Ameriprise Financial reported a strong third quarter in 2024, with adjusted operating earnings per diluted share increasing by 17% to $9.02, excluding unlocking and severance expenses. The company saw an 11% increase in adjusted operating net revenues, driven by organic growth, strong equity markets, and higher spread revenues. Assets under management and administration reached $1.5 trillion, a 22% increase. Ameriprise returned $713 million of capital to shareholders, highlighting its financial strength and cash flow.
Adjusted operating earnings per diluted share increased 17% to $9.02, excluding unlocking and severance expenses.
Assets under management and administration grew 22% to $1.5 trillion.
Adjusted operating net revenues increased 11% due to organic growth and strong equity markets.
The company returned $713 million of capital to shareholders.
Ameriprise
Ameriprise
Ameriprise Revenue by Segment
Revenue by Segment
Advice & Wealth Mgmt net Revenue
CapyFin.comAsset Mgmt net Revenue
CapyFin.comRetirement & Protection net Revenue
CapyFin.com Forward Guidance
Ameriprise anticipates continued growth and profitability, driven by strategic investments, operational efficiencies, and a strong focus on client and advisor value propositions.
Positive Outlook
- Strong revenue and earnings growth across the business.
- Positive market environment and planning expertise driving client investments.
- Significant increase in flows into fee-based investment advisory accounts.
- Strong transactional activity and advisor productivity.
- Continued drive for operating efficiencies and investments for growth.
Challenges Ahead
- Unfavorable market impacts on the valuation of derivatives and market risk benefits.
- Annual actuarial assumption update resulting in an unfavorable after-tax impact.
- Severance expenses related to initiatives to enhance operational efficiency.
- Increased distribution expenses associated with strong sales levels.
- Mark-to-market impacts on share-based compensation.
Revenue & Expenses
Visualization of income flow from segment revenue to net income