Affiliated Managers

Q3 FY2026 EarningsQ3 FY26 results presented a mixed performance against consensus: revenue of $595.2M missed the $655.1M estimate by 9.1%, and GAAP EPS of $6.64 slightly trailed the $6.70 expectation. However, the company demonstrated exceptional organic growth and capital efficiency, with record AUM of $974B and $21B in net client cash flows, driven by record Alternative strategy inflows ($31B+). Economic EPS reached $9.50, significantly beating the normalized consensus of $8.79, aided by aggressive share repurchases ($400M in Q3).