Affiliated Managers Group, Inc. · MGRE · FY2026 Q3 · Calendar Q4 2026
AMG: Alternatives drive record Q3 as firm maintains Q4 outlook
The quarter’s record results and continued inflows support AMG’s growth case, while the increasing contribution from alternatives makes sustained client demand and the durability of those flows central to the outlook.
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Earnings scorecard
Reported versus consensusMarket reaction
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Transcript intelligence
What changed
Management highlighted record third-quarter results and AUM, strong net inflows, and alternatives contributing roughly 70% of EBITDA. It also described a robust pipeline of affiliate investments and partnerships.
Guidance delta
Management maintained its fourth-quarter outlook, including the previously stated EBITDA and economic EPS ranges.
Key takeaways
- Record results and AUM were supported by net inflows and demand for alternative strategies.
- Alternatives now contribute roughly 70% of EBITDA, concentrating the growth narrative around continued client demand.
- Management emphasized affiliate investment opportunities and maintained its fourth-quarter outlook.
Management priorities
- Continue investing in new and existing affiliates and pursue strategic partnerships.
- Expand tax-aware and other alternative offerings, including secondary, infrastructure and absolute-return strategies.
- Use the balance sheet and capital returns to support growth and shareholder returns.
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Company context
Snapshot as of publicationAffiliated Managers Group, Inc. (AMG) operates as a prominent asset management firm, delivering comprehensive investment solutions through its diverse network of subsidiary companies. Primarily serving the United States, AMG provides investment management expertise to a broad spectrum of clients, including individual investors with substantial wealth, institutional entities, and various mutual funds. The company extends its services by offering specialized advisory and sub-advisory expertise for mutual funds. These investment vehicles reach both individual retail investors and institutional clients, either through direct engagement or via an extensive network of financial intermediaries. This network comprises independent investment advisors, sponsors of retirement plans, broker-dealers, significant fund platforms, and bank trust departments. For its institutional distribution channel, AMG presents a wide array of investment strategies.…
Historical context
All MGRE earningsFinancial Services peers this season
Latest reports in the same sector| Company | Quarter | EPS surprise | Market move | Headline |
|---|---|---|---|---|
| BAP Credicorp Ltd. | FY2026 Q3 · Calendar Q4 2026 | -2.6% | +3.3% | Credicorp maintains 2026 guidance as lending and fee growth meet El Niño risks |
| CIB Grupo Cibest S.A. | FY2026 Q3 · Calendar Q4 2026 | -10.1% | -4.0% | Grupo Cibest raises loan-growth outlook as commercial lending and Nequi underpin Q3 |
| MGRD Affiliated Managers Group, Inc. | FY2026 Q3 · Calendar Q4 2026 | +8.1% | +1.4% | AMG’s Q3 Growth Centers on Alternatives, Inflows and Buybacks |
| MGRB Affiliated Managers Group, Inc. | FY2026 Q3 · Calendar Q4 2026 | +8.1% | +1.4% | AMG’s alternatives-led growth strengthens, while revenue misses estimates |
| AMG Affiliated Managers Group, Inc. | FY2026 Q3 · Calendar Q4 2026 | +8.1% | +5.6% | AMG posts record Q3, with alternatives driving inflows and earnings |
| KKR KKR & Co. Inc. | FY2026 Q3 · Calendar Q4 2026 | +12.7% | +1.7% | KKR’s record quarter pairs fee growth with deployment and liquidity |
Latest beats and misses
Who reports nextBeat on EPS
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- MGRDFY2026 Q3 · November 9, 2026+8.1% EPS+1.4% move
Missed on EPS
- EMBJFY2026 Q3 · November 10, 2026-49.4% EPS+7.0% move
- VODFY2027 Q2 · November 10, 2026-72.8% EPS-1.2% move
- SEFY2026 Q3 · November 10, 2026-5.1% EPS-1.5% move
- BAPFY2026 Q3 · November 9, 2026-2.6% EPS+3.3% move
- JBSFY2026 Q3 · November 9, 2026-28.6% EPS-5.5% move
- CIBFY2026 Q3 · November 9, 2026-10.1% EPS-4.0% move
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Sources
- Earnings call transcript and parsed analysis · 2026-11-09T22:06:54.708536+00:00
- FN2 earnings calendar · 2026-11-11T01:23:13.633975+00:00
- Polygon adjusted daily market bars · 2026-11-11T02:10:45.545037+00:00
Methodology
Reported and consensus figures come from FN2's earnings event records. Market reaction and volume are calculated from daily adjusted bars around the event; abnormal move subtracts the SPY move over the same window.
Transcript intelligence is a structured synthesis of the current and prior earnings-call analyses. Missing values stay missing and are never estimated.
By FN2 Research · Updated · As of 2026-11-11. For educational purposes only; not investment advice.