AB - AllianceBernstein Q1 earnings beat inflows rise in a volatile quarter

AllianceBernstein (NYSE:AB) Q1 topped the consensus estimate as investors' recalibration of interest rate expectations and fears about geopolitical conflict made for volatile markets during the quarter.  Q1 adjusted earnings per unit of $0.90 exceeded the average analyst estimate of $0.84 and declined from $1.29 in Q4 2021 but increased from $0.81 in Q1 2021. Q1 operating income of $285.0M dropped 28% Q/Q and rose 9.6% Y/Y; operating margin of 31.5% fell from 38.5% in Q4 and from 31.7% in Q1 2021. "We experienced net inflows of $11.4B, or 6% annualized organic growth, led by a large custom target-date mandate and accelerating private wealth inflows," said President and CEO Seth P. Bernstein. "Active equities and municipals grew by 6% and 7% annualized, respectively, offsetting taxable fixed income outflows. Investment performance lagged as growth equity valuations reset, with higher interest rates weighing on both equity and fixed income markets." Assets under management

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AllianceBernstein Q1 earnings beat, inflows rise in a volatile quarter