EarningsQ2 2026 Earnings Report
DE:2B9 Q2 2026 EPS Results
Actual EPS€1.18
Consensus EPS€0.93
Beat/MissBeat by +€0.25
One Year Ago EPS€0.57
DE:2B9 Q2 2026 Revenue Results
Actual Revenue€172.88M
Expected Revenue€153.84M
Beat/MissBeat by +€19.04M
YoY Revenue Growth+38.59%
Earnings Announcement Details
QuarterQ2 2026
Date07/30/2026
TimeBefore Open
Conference CallThursday, July 30, 2026
DE:2B9 Upcoming Earnings
Acadian Asset Management's next earnings date is estimated for October 29, 2026, based on past reporting schedules.
Q2 2026 Earnings Call Audio
DE:2B9 Q2 2026 Earnings Call
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Q2 2026 Earnings Slide Deck
Q2 2026 Earnings Call Summary
Earnings Call Sentiment|Positive
The call highlighted broad-based, multi-quarter momentum: exceptional revenue and profitability growth, record AUM and sustained net inflows, strong investment performance metrics, improved operating leverage, and prudent capital allocation. Offsetting items include deliberate investments in G&A and technology that raised operating expenses, non-cash equity-related charges affecting GAAP results, some fee-rate compression due to mix shift toward lower-fee Enhanced strategies, and early-stage traction in credit products that are expected to scale more in 2027. On balance, the positive financial and operational trends materially outweigh the manageable headwinds.Company Guidance
Strong Earnings and EPS Growth
U.S. GAAP net income attributable to controlling interests rose 170% year-over-year and GAAP EPS increased 171% driven by higher management fees and revenue growth. ENI (economic net income) rose 107% to $47.5 million and ENI diluted EPS was $1.33, up 108%.
Revenue and Management Fee Expansion
Total ENI revenue was $183 million, up 47% year-over-year. Management fees were a record $177 million, up 44% YoY, reflecting a 66% increase in average AUM driven by market appreciation and positive net client flows.
AUM and Net Flows Momentum
Assets under management reached a record $232.7 billion as of June 30, 2026, up 54% from Q2 2025. Net client cash flows were +$4.3 billion in Q2 2026, representing a 9% annualized organic growth rate and marking 10 consecutive quarters of positive net flows.
Operating Leverage and Profitability
Adjusted EBITDA increased 79% year-over-year. ENI operating margin expanded nearly 10 percentage points to 40.3% from 30.7% in Q2 2025. The ENI operating expense ratio fell eight percentage points year-over-year to 36.8%, reflecting improved operating leverage.
Investment Performance Strength
Firm-level performance remained robust: revenue-weighted five-year annualized excess return over benchmark was 4.3% and asset-weighted was 3.6%. By revenue weight, 96% of strategies outperformed their benchmarks across 3-, 5-, and 10-year periods; by asset weight 94% outperformed. 77% of assets outperformed over the trailing one-year period.
Healthy Balance Sheet and Capital Returns
Strong capital metrics: cash of $65 million, $110 million in seed investments, gross debt to adjusted EBITDA of 0.8x and net debt to adjusted EBITDA of 0.5x (well below the 1.5x through-the-cycle target). Outstanding diluted shares down 58% since Q4 2019; $1.5 billion returned to shareholders via buybacks and dividends. Q2 repurchases: 0.2 million shares ($10.6 million). Interim dividend declared of $0.10 per share.
Strategic Talent and Market Recognition
Organizational investments include promotion of Alex Voitenok to Co-CIO (effective 1/1/2027) and additions from the former TC43 team to bolster research and data engineering. Acadian moved up in Pensions & Investments Largest Money Managers ranking to #62 from #76, reflecting scale growth and external recognition.
DE:2B9 Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed