AllianceBernstein reports Q1 adjusted EPS 80c, consensus 78c

Reports Q1 revenue $1.08B, consensus $857.27M. “Against a tough market backdrop that intensified into the second quarter, all three of our global distribution channels grew organically, totaling $2.7 billion active net inflows in the first quarter of 2025,” said Seth Bernstein, president and CEO of AllianceBernstein (AB). “Activity was headlined by institutional deployments into our private alternative strategies, contributing more than half of the $4.2 billion net inflows in alternatives/multi-asset. Our active fixed income platform also continued to grow organically, registering $1.0 billion net inflows, as strong retail demand for our market-leading Muni SMA capabilities offset taxable outflows. Active equity outflows persisted, albeit at a slower pace for institutional redemptions, while retail organic gains partially offset the institutional trend. Compared to prior year, average AUM and investment advisory base fees grew 8%, adjusted operating income increased 6% and adjusted operating margin of 33.7% expanded by 340 bps. Adjusted earnings per Unit and distributions to Unitholders rose 10%.”