Affiliated Managers Group Inc (AMG) Q1 2019 10-Q Quarterly Earnings

Short answer

Affiliated Managers Group Inc (AMG) filed its Q1 2019 10-Q quarterly report on May 9, 2019 for the quarter ended Mar 31, 2019.

AI summary of MD&A and risk factor updates

Consolidated revenue $543.1M, down 11% YoY from $612.4M
Economic net income $169.0M, down 21% from $215.2M; adjusted EBITDA $215.6M, down 25%
Equity method revenue $708.9M, down 32%; equity method loss $358.1M after $415.0M impairment
Cash $305.2M vs $565.5M; operating cash flow $(17.9)M vs $205.0M
Outlook: active-strategy demand continued, but U.S. equity outflows persisted; approximately $150M Affiliate equity repurchases expected in 2019

No material risk-factor changes identified, based on the provided excerpt lacking the 10-Q “Risk Factors” section
Operating risk: investment performance and client retention remain central to fee revenue generation
Market risk: equity-market declines could reduce assets under management and performance-based fees
Financial risk: cash and equivalents declined to $305.2 million while debt totaled $1,780.7 million
Compliance risk: newly adopted lease accounting created $190.8 million of lease liabilities at January 1, 2019

Generated from the filing text; verify against the original. 10-K vs 10-Q vs 8-K

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