AllianceBernstein Q3 adjusted EPS beats estimates
AB•AllianceBernstein’s third-quarter adjusted EPS rose 2.3% to $0.88, beating the $0.86 estimate, while revenue rose 7.8% to $1.23 billion. The company generated $6.6 billion in net inflows, its strongest quarterly result in four years.
1. Earnings and revenue
AllianceBernstein reported third-quarter adjusted EPS of $0.88, up 2.3% and above the $0.86 analyst estimate. Revenue rose 7.8% year over year to $1.23 billion, driven by higher performance-based and advisory fees.
2. Flows and outlook
The company generated $6.6 billion in net inflows, its strongest quarterly result in four years. Institutional demand, especially in liquid and illiquid credit, contributed to $15.7 billion in net inflows; Alternatives/MAS had $15 billion in net inflows, while active equity strategies recorded about $13 billion in outflows. AllianceBernstein did not provide specific financial guidance for the current quarter or full year.
