earnings
confidence high
sentiment positive
materiality 0.75
AllianceBernstein Q2 GAAP EPU $0.77, adjusted EPU $0.82; AUM record $905.5B
ALLIANCEBERNSTEIN HOLDING L.P.
- GAAP net revenues $1.17B (+7.5% YoY); operating income $289M (+30.2% YoY); margin 23.2%.
- Adjusted net revenues $887.5M (+5.1% YoY); adjusted operating income $293M (+7.3% YoY); margin 33.0% (+70bps).
- Record AUM of $905.5B (+9.2% YoY); net inflows of $0.8B, strongest sales quarter in five years.
- Fixed income net inflows of ~$9B passive retail sub-advisory mandate plus ~$3B tax-exempt; Alternatives/MAS net inflows >$4B.
- Cash distribution raised to $0.82/unit (+7.9% YoY), matching adjusted EPU.