Company reports EPS of $3.47, Economic EPS of $4.18 in first quarter
u Net Income (controlling interest) of $135 million, Economic Net Income of $158 million
u Adjusted EBITDA of $217 million and Economic Earnings per share of $4.18
u Continued execution of $225 million accelerated share repurchase program entered into at year-end
WEST PALM BEACH, FL, May 1, 2023 — Affiliated Managers Group, Inc. (NYSE: AMG) today reported its financial and operating results for
the first quarter of 2023.
Jay C. Horgen, President and Chief Executive Officer of AMG, said:
“AMG reported Economic Earnings per share of $4.18 for the first quarter, reflecting our unique business profile, the diversity of our
Affiliate group, and the positive impact of our capital allocation strategy.
“Macroeconomic uncertainty is creating additional opportunities for alpha-oriented managers to generate differentiated returns. Our
Affiliates are positioned to benefit as clients adjust their portfolio allocations and engage high-quality alpha-oriented managers to navigate
rapidly changing markets. This environment is presenting additional opportunities to build new partnerships, and AMG’s unique approach
continues to resonate with high-performing partner-owned firms. As a result, we expect to continue to enhance our participation in secular
growth areas and further diversify our business.
“With thirty years of experience in partnering with independent firms, our reputation as a strategic partner across market cycles, and our
strong and flexible balance sheet, we are uniquely positioned to execute on our opportunity set. Given our proven ability to invest in
attractive growth opportunities in existing and new Affiliates, while also returning excess capital to shareholders through a disciplined
capital allocation framework, we are confident in our ability to create long-term shareholder value.” see & read more on