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Affiliated Managers Group
Affiliated Managers Group (AMG) investor relations material
Affiliated Managers Group Q1 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q1 2026 earnings summary1 May, 2026
Executive summary
Assets under management (AUM) reached a record $882 billion as of March 31, 2026, up 24% year-over-year, driven by strong net client inflows, especially in alternatives and liquid alternatives strategies.
Net client cash flows exceeded $22 billion for the quarter, with 12-month net flows of $52 billion and organic growth rate of 7%.
Economic EPS rose 58% year-over-year to $8.23, and Adjusted EBITDA increased 39% to $317 million, reflecting robust organic growth and capital allocation.
Over 60% of EBITDA now comes from high-growth areas, with alternatives contributing ~55% of EBITDA in 2025, up from ~35% in 2020.
Completed minority investments in BBH Credit Partners, Garda Capital Partners, HighBrook Investors, Verition Fund Management, Montefiore Investment, and Qualitas Energy.
Financial highlights
Q1 2026 net income (controlling interest) was $110.4 million, up 52% from $72.4 million in Q1 2025.
Adjusted EBITDA (controlling interest) for Q1 2026 was $317.3 million, up from $228.2 million in Q1 2025.
Economic earnings per share rose to $8.23 in Q1 2026 from $5.20 in Q1 2025.
Consolidated revenue for Q1 2026 was $544.9 million, up from $496.6 million in Q1 2025.
Aggregate fees surged 50% to $1,909.9 million, reflecting strong growth in asset- and performance-based fees.
Outlook and guidance
Q2 2026 Adjusted EBITDA expected between $290 million and $305 million; economic EPS guidance of $7.60–$8.01, midpoint representing 45% growth versus Q2 2025.
Business mix expected to further shift toward private markets and liquid alternatives, positioning for continued industry growth.
Mid-teens annualized long-term earnings growth opportunity projected, supported by organic growth, affiliate performance, and share repurchases.
Full-year share repurchases anticipated at approximately $500 million, subject to market conditions.
Current cash, operating cash flow, and revolver capacity expected to support ongoing investments and capital needs.
Drivers of record liquid alternative inflows
Strategic impact of BBH and HighBrook deals
Factors behind long-only equity outflows
Positive mix shift impact on management fee rate
Scaling P-BUILD and P-SECC in the wealth channel
M&A outlook given lower public market valuations
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Latest events from Affiliated Managers Group
- Annual proxy outlines shareholder voting items and governance matters for the upcoming meeting.AMG
Proxy filing17 Apr 2026 - Strong 2025 growth, disciplined capital return, and enhanced governance with robust ESG focus.AMGProxy filing17 Apr 2026
- Economic EPS up 22% to $26.05, AUM at $813.3B, and $29B net inflows led by alternatives.AMGQ4 202512 Feb 2026
- AUM hit $701B, Economic EPS up 17%, and $477M in shares repurchased despite net income drop.AMGQ2 20242 Feb 2026
- AUM hit $728.4B, Economic EPS up 18%, and $580M in share buybacks YTD.AMGQ3 202417 Jan 2026
- Accelerating growth in alternatives and wealth channels is reshaping the business mix.AMGGoldman Sachs 2024 U.S. Financial Services Conference11 Jan 2026
- Record Economic EPS of $21.36 and AUM of $708B driven by alternatives and capital discipline.AMGQ4 202417 Dec 2025
- Alternatives drive growth, with earnings set to accelerate into 2026 on strong flows and innovation.AMGGoldman Sachs U.S. Financial Services Conference10 Dec 2025
- Strong 2024 results, board refreshment, and enhanced ESG drive shareholder-focused governance.AMGProxy Filing1 Dec 2025
Next Affiliated Managers Group earnings date
Q2 202630 Jul, 2026
Affiliated Managers Group
Next Affiliated Managers Group earnings date
Q2 202630 Jul, 2026
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