AllianceBernstein reports Q4 adjusted EPS $1.05, consensus 86c

Reports Q4 revenue $973.29M, consensus $895.69M. “2024 was a transformative year for AllianceBernstein (AB), as we successfully executed on key initiatives to improve our financial profile and expanded our investment and distribution capabilities,” said Seth Bernstein, president and CEO of AllianceBernstein. “Despite experiencing outflows in the fourth quarter, our active platform registered $4.2 billion net inflows for the full year 2024, with two of our three channels growing organically throughout the year and the fourth quarter. Our expertise in credit placed us at the forefront of the fixed income re-allocation opportunity, with active fixed income flows reaching a record high of $24.5 billion in 2024, approximately double compared to 2023. Alternatives and multi-asset also had a solid year with $3.8 billion active net inflows, boosting our private markets AUM to $70 billion. Active equities continued to lose market share, particularly within institutions that accounted for nearly three-quarters of our $24.1 billion net outflows. Full-year 2024 average AUM and adjusted base management fees grew 13% and 12% respectively. Adjusted operating income grew 20% and adjusted operating margins expanded 410 basis points to 32.3%. Full-year 2024 adjusted earnings per units and unitholder distributions rose 21% year-over-year.”