AFFILIATED MANAGERS Reports Second Quarter Earnings for FY2023 on June 30th
July 28, 2023
🌥️Earnings Overview
On June 30, 2023, AFFILIATED MANAGERS ($NYSE:AMG) announced their earnings results for the second quarter of FY2023. Total revenue for the quarter came to USD 512.5 million, a decrease of 15.2% from the same period in the previous year. Net income, however, rose by 14.5% year over year to USD 125.3 million.
Share Price
At the market open, AFFILIATED MANAGERS’ stock opened at $155.3, down from the previous closing price of $161.6. This marks a significant decline in their stock prices and could be a sign of upcoming trouble for this company. Investors and analysts are now closely monitoring AFFILIATED MANAGERS’ stock prices to see if there will be any further drops in the near future.
With FY2023 ending soon, investors will be interested to see how well this company performs in the upcoming quarters. The second quarter earnings are indicative of the volatility of AFFILIATED MANAGERS’ stock prices and investors will be keeping a close eye on these numbers moving forward. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Affiliated Managers. More…
| Total Revenues | Net Income | Net Margin |
| 2.15k | 1.15k | 22.8% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Affiliated Managers. More…
| Operations | Investing | Financing |
| 1.14k | -109.9 | -1.4k |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Affiliated Managers. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 8.97k | 4.1k | 94.12 |
Key Ratios Snapshot
Some of the financial key ratios for Affiliated Managers are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 1.0% | 6.3% | 85.3% |
| FCF Margin | ROE | ROA |
| 52.8% | 34.4% | 12.8% |
Analysis
GoodWhale has conducted an analysis of AFFILIATED MANAGERS‘s fundamentals which reveals a highly healthy score of 9/10 based on cashflows and debt. This score indicates that the company is capable of sustaining future operations even in times of crisis. In terms of performance, AFFILIATED MANAGERS is strong in profitability, medium in assets, dividend and weak in growth. The company is classified as a ‘cow’, which is a type of company we classify as having the track record of paying out consistent and sustainable dividends. This makes AFFILIATED MANAGERS an attractive option for investors seeking reliable and consistent returns. Such investors include dividend investors, retirement investors and income investors. More…
Peers
Its competitors are BlackRock Inc, CI Financial Corp, and Pinnacle Investment Management Group Ltd.
– BlackRock Inc ($NYSE:BLK)
BlackRock Inc is a publicly traded company with a market capitalization of $90.05 billion as of early 2021. The company operates as an investment management firm and has a strong focus on exchange-traded funds (ETFs). As of early 2021, BlackRock managed nearly $8 trillion in assets on behalf of its clients. The company has a return on equity (ROE) of 12.63%.
BlackRock was founded in 1988 and has grown to become one of the largest asset managers in the world. The company is headquartered in New York City and has offices in dozens of countries around the globe. BlackRock serves a wide range of clients, including institutional investors, financial advisors, and individual investors.
– CI Financial Corp ($TSX:CIX)
As of 2022, CI Financial Corp has a market cap of 2.54B and a Return on Equity of 30.25%. The company is a leading provider of financial services in Canada, with a focus on asset management and wealth management. The company has a strong track record of delivering superior performance for its clients and shareholders.
– Pinnacle Investment Management Group Ltd ($ASX:PNI)
Pinnacle Investment Management Group Ltd is a global asset management firm with over $1.67 billion in assets under management. The company offers a wide range of investment products and services to institutional and retail investors across the globe. Pinnacle is headquartered in Sydney, Australia and has offices in London, New York, Hong Kong, and Singapore.
Summary
Investors were likely disappointed to learn that AFFILIATED MANAGERS reported a 15.2% decrease in total revenue for the second quarter of FY2023 compared to the same period in the prior year. However, net income the quarter was positive, increasing 14.5% year over year to USD 125.3 million. Despite this, the stock price moved down the same day, indicating that investors may not be confident in the company’s short-term outlook. Analysts should carefully monitor AFFILIATED MANAGERS’ financials in the coming quarters to assess its long-term investment potential.
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