Affiliated Managers Group Inc

NYSE:AMGUnited States

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• Affiliated Managers Q1 Non-GAAP Earnings Rise, Revenue Declines, from 13 hours ago by MT Newswires

  13 hours ago by MT Newswires
  Companies Mentioned: AMG
  07:33 AM EDT, 05/06/2024 (MT Newswires) -- Affiliated Managers Group (AMG) reported Q1 non-GAAP earnings Monday of $5.37 per diluted share, up from $4.18 a year earlier. Analysts polled by Capital IQ expected $5.24. Revenue for the quarter ended Mar...

• -- Earnings Flash (AMG) AFFILIATED MANAGERS GROUP Reports Q1 Revenue $499.9M, from 13 hours ago by MT Newswires

  13 hours ago by MT Newswires
  Companies Mentioned: AMG
  07:03 AM EDT, 05/06/2024 (MT Newswires) -- ...

• AMG Reports Financial and Operating Results for the First Quarter of 2024, from 13 hours ago by GlobeNewswire

  13 hours ago by GlobeNewswire
  Companies Mentioned: AMG

• AMG Reports Financial and Operating Results for the First Quarter of 2024, from 13 hours ago by Dow Jones

  13 hours ago by Dow Jones
  Companies Mentioned: AMG
  to Affiliate Transactions, and non-cash items such as certain Affiliate equity activity, gains and losses on our contingent payment obligations, and unrealized gains and losses on seed capital, general partner commitments, and other strategic investments. Adjusted EBITDA (controlling interest) is also adjusted to include realized economic gains and losses related to these seed capital, general partner commitments, and other strategic investments. Under our Economic net income (controlling interest) definition, we adjust Net income (controlling interest) for our share of pre-tax intangible amortization and impairments related to intangible assets (including the portion attributable to equity method investments in Affiliates) because these expenses do not correspond to the changes in the value of these assets, which do not diminish predictably over time. We also adjust for deferred taxes attributable to intangible assets because we believe it is unlikely these accruals will be used to settle material tax obligations. Further, we adjust for gains and losses related to Affiliate Transactions, net of tax, and other economic items. Other economic items include certain Affiliate equity activity, gains and losses related to contingent payment obligations, tax windfalls and shortfalls from share-based compensation, unrealized gains and losses on seed capital, general partner commitments, and other strategic investments, and realized economic gains and losses related to these seed capital, general partner commitments, and other strategic investments. Economic earnings per share represents Economic net income (controlling interest) divided by the Average shares outstanding (adjusted diluted). In this calculation, we exclude the potential shares issued upon settlement of Redeemable non-controlling interests from Average shares outstanding (adjusted diluted) because we intend to settle those obligations without issuing shares, consistent with all prior Affiliate equity purchase transactions. The potential share issuance in connection with our junior convertible securities is measured using a "treasury stock" method. Under this method, only the net number of shares of common stock equal to the value of the junior convertible securities in excess of par, if any, are deemed to be outstanding. We believe the inclusion of net shares under a treasury stock method best reflects the benefit of the increase in available capital resources (which could be used to repurchase shares of our common stock) that occurs when these securities are converted and we are relieved of our debt obligation. The following table provides a reconciliation of Average shares outstanding (adjusted diluted): Three Months Ended ------------------------- (in millions) 3/31/2023 3/31/2024 ------------ ----------- Average shares outstanding (diluted) 39.9 40.1 Hypothetical issuance of shares to settle Redeemable non-controlling interests (0.3) (3.6) Junior convertible securities (1.7) (1.7) ----------- -------- Average shares outstanding (adjusted diluted) 37.9 34.8 =========== ======== (3) The following table presents equity method earnings and equity method intangible amortization and impairments, which in aggregate form Equity method income (net): Three Months Ended ---------------------------- (in millions) 3/31/2023 3/31/2024 ------------- ------------- Equity method earnings $ 79.5 $ 138.3 Equity method intangible amortization and impairments (20.9) (20.8) Equity method income (net) $ 58.6 $ 117.5 === ======= ======
  

• *DJ Affiliated Managers 1Q Economic EPS $5.37 >AMG, from 13 hours ago by Dow Jones

  13 hours ago by Dow Jones
  Companies Mentioned: AMG