Affiliated Managers reports Q4 economic EPS $7.28, consensus $7.06

Reports Q4 revenue $539.6M, consensus $589.28M. Jay Horgen, President and CEO, said, "AMG delivered 10% growth in full-year Economic Earnings per share, reflecting our unique business profile. Given the diversification of our business, our Affiliates’ differentiated performance, and the positive impact of our capital allocation strategy – across both growth investments and share repurchases – we generated excellent results, notwithstanding significant market and flow headwinds facing our industry. In 2022, we continued to evolve our business toward areas of secular growth, including by expanding our partnership with one of the industry’s leading technology-driven alternatives managers, and investing in a new Affiliate focused on communications infrastructure, further increasing our exposure to liquid alternatives and real assets, respectively. Over the past four years, we have invested $1.3 billion in growth investments in new and existing Affiliates and, given our disciplined capital allocation strategy, we have also returned $1.9 billion in excess capital to shareholders, resulting in a significant reduction in our share count. Given our business momentum, the quality and diversity of our Affiliates, as well as our strong and flexible balance sheet, we enter 2023 in an excellent position to capitalize on unique opportunities emerging in a fundamentally changed market environment. We remain focused on executing our strategy of allocating capital to the highest areas of growth and return within our disciplined capital allocation framework, and are confident in our ability to create meaningful shareholder value over time."