Affiliated Managers reports Q1 economic EPS $5.20, consensus $5.09

Reports Q1 revenue $499.9M, consensus $497.63M. CEO Jay Horgen said: “In Q1, AMG reported Economic EPS of $5.20, reflecting the ongoing evolution of our business and the positive impact of our disciplined capital allocation strategy. AMG’s focus on investing in areas of secular demand has enhanced the company’s long-term growth prospects, and, together with our business strength and momentum, has positioned us to capitalize on the current market environment…Since the beginning of the year, we have announced three new partnerships with firms managing alternative strategies…These new partnerships enhance AMG’s exposure to secular growth areas and accelerate the evolution of our business profile, increasing our participation in liquid alternatives and private markets. Given the diversity of our business and the quality of our Affiliates, along with our unique partnership structure, our strong capital position, and our overall financial flexibility, AMG is well-positioned to execute our strategy across all stages of a market cycle, and we are confident in our ability to create meaningful incremental shareholder value over time.”