earnings
confidence high
sentiment neutral
materiality 0.70
AB Q4 GAAP EPU $0.71 (adj. $0.77); full-year EPU down 13% YoY; distribution $0.77
ALLIANCEBERNSTEIN HOLDING L.P.
- GAAP Q4 net revenues $1.09B (+10.2% YoY); operating income $238.5M (+17.1%); GAAP margin 20.6%.
- Adjusted Q4 operating income $253.9M (+5.6% YoY); adjusted margin 29.2% (down 80bps).
- Full year adjusted EPU $2.69 (-8.5% YoY); full year distribution $2.69 (-8.8%).
- Ending AUM $725.2B, up 12.2% from $646.4B; Private Markets AUM $61B, up 9%.
- CEO notes fixed income inflows; Municipals grew organically 11%; Taxable Fixed Income grew 3% organically.