For the second quarter of 2018, diluted earnings per share were $2.16, compared to $2.22 for the same period of 2017, and Economic earnings per share (“Economic EPS”) were $3.61, compared to $3.33 for the same period of 2017. For the second quarter of 2018, Net income was $117.0 million, compared to $126.3 million for the same period of 2017. For the second quarter of 2018, Economic net income was $195.6 million, compared to $188.7 million for the same period of 2017. For the second quarter of 2018, Adjusted EBITDA was $246.2 million, compared to $254.8 million for the same period of 2017. For the second quarter of 2018, Revenue was $600.1 million, compared to $570.9 million for the same period of 2017. For the second quarter of 2018, Aggregate fees (an operating measure comprising the total asset- and performance-based fees of all Affiliates) were $1.3 billion, compared to $1.2 billion for the same period of 2017. (Economic EPS, Economic net income, and Adjusted EBITDA are defined in the attached tables, along with reconciliations to the most directly comparable GAAP measure.)
“During the quarter, our positive net flows were driven by continued strong demand for a wide range of alternative investments along with increased sales across an array of global equity strategies,” Mr. Dalton continued. “Looking ahead, we continue to benefit from substantial interest in highly differentiated strategies for the alpha portions of client portfolios. With industry-leading capabilities in many of the most attractive areas of active equities and alternatives, we are working closely with our Affiliates to bring the outstanding performance of focused specialist firms, supported by the scale, resources, and risk management of a global investment management franchise, to clients around the world.”
“Finally, with AMG’s unique competitive position and 25-year track record of successful partnerships, we are confident in our ability to continue to generate strong long-term earnings growth through accretive investments in outstanding new Affiliates, while also consistently returning capital to shareholders through our quarterly cash dividend and share repurchases,” concluded Mr. Dalton. “Given our significant and growing scale, and our commitment to disciplined capital allocation, we are well-positioned to continue to generate meaningful shareholder value going forward.”
News Release | Affiliated Managers Group
