AMG - Affiliated Managers trades high on Q4 earning beat
Affiliated Managers Group ([[AMG]] +14.0%) reports Q4 revenue of $554.4M (-0.2% Y/Y) beats consensus by $45.02M.AUM of $716.2M at quarter end vs. last year's figure of $722.5M.Completed investment in Boston Asset Management and Jackson Square Partners.Adjusted Q4 EBITDA increased 27% Y/Y, driven by growth in both management and performance fee EBITDA contribution.Net Income of $116M or EPS of $2.54, beats consensus by $0.55, economic net income $191M or EPS of $4.52, beats consensus by $0.54.“AMG reported Adjusted EBITDA of $255M in the fourth quarter; the year-over-year growth of 27% reflects strong investment performance from our Affiliates across a broad array of alpha-oriented strategies, along with the positive impact of strategic investments and actions to reposition the business for growth. Business momentum and net client cash flows were particularly strong in private markets, wealth management, and specialty fixed income during the quarter. Looking ahead, AMG continues to have excellent long-term growth prospects; our Affiliates
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Affiliated Managers trades high on Q4 earning beat