Affiliated Managers Group reported its third‑quarter 2025 earnings, posting diluted earnings per share of $6.87 and economic earnings per share of $6.10, both exceeding analyst expectations of $5.83 and $5.95 respectively.
Revenue for the quarter was $528 million, up 10% year‑over‑year and beating the consensus estimate of $521.13 million. Adjusted EBITDA rose 17% year‑over‑year to $250.9 million, reflecting stronger fee‑related earnings and disciplined capital allocation.
Net client cash inflows totaled $9 billion for the quarter and $17 billion year‑to‑date. The company repurchased $77 million of common stock in the third quarter, bringing total share repurchases to $350 million for the year, and announced a $0.01 per share dividend payable November 28, 2025.
Assets under management stood at $803.6 billion as of September 30, 2025. Net income was $212 million, including a $100 million gain from the Peppertree transaction, which was excluded from Adjusted EBITDA.
The collaboration with BlackRock’s BBH, initiated on October 1, 2025, and the investment in BBH Credit Partners aim to expand AMG’s U.S. wealth marketplace offerings. The partnership is expected to complete in the first quarter of 2026.
Prior‑period comparisons show that Q3 2024 diluted EPS was $3.78, economic EPS was $4.82, and Adjusted EBITDA was $214.1 million. In Q2 2025, economic EPS of $5.39 beat estimates while revenue of $493.2 million missed estimates, underscoring the significance of the Q3 results.
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