AllianceBernstein

Q2 FY2026 EarningsQ2 FY26 missed consensus estimates on both top and bottom lines, with GAAP EPS of $0.77 vs. $0.81 expected and Adjusted EPS of $0.82 vs. $0.83. Although the operating entity (AB LP) saw net income grow 21.3% YoY, the Holding company's results were hampered by a significantly higher effective tax rate of 10.4% compared to the 5.5% consensus. Furthermore, the Holdco’s weighted average equity ownership in the operating partnership decreased to 31.3% from 37.5% YoY, diluting the impact of underlying asset management growth.