Filing Flows › Affiliated Managers Group (AMG) › Q1 2026
Affiliated Managers Group (AMG) Q1 2026 earnings results (first quarter 2026)
10-Q filed May 7, 2026
Affiliated Managers Group (AMG) reported revenue of $545M for the first quarter 2026 (Q1 2026), +10% from a year earlier and -2% from the quarter before. Operating margin was 35.4%, net earnings $110M (20.3% of revenue).
Affiliated Managers Group, Q1 2026: revenue $545M (+10% year over year), operating margin 35.4%, net earnings $110M, operating cash flow $299M. The chart follows the revenue to costs, profit and cash.
| Q1 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $545M | -2% | +10% |
| Operating profit | $193M | -63% | +52% |
| Net earnings | $110M | -68% | +52% |
| Operating cash flow | $299M | +17% | +43% |
| Free cash flow | $296M | +16% | +43% |
What changed
Revenue was $544.9M in Q1 2026, up 10% year over year and down 2% from the previous quarter.
Operating profit was $192.9M, a 35.4% margin (up 9.9 points year over year). Of the extra revenue versus Q1 2025, 137% reached operating profit, above the 25% margin then. Total costs fell 5% while revenue rose 10%. The fastest-growing cost line was SG&A (+13%). Net earnings were $110.4M, up 52% year over year. The effective tax rate was 24.1%.
Operating cash flow was $299.3M (up 43% year over year), 204% of net income including minority interests. Non-cash charges added back $6.9M of share-based compensation. Working capital and other items added $146.0M. Capital expenditures of $3.8M left free cash flow of $295.5M.
Questions
What was Affiliated Managers Group's revenue in the first quarter 2026?
Affiliated Managers Group (AMG) reported revenue of $545M for the first quarter 2026 (Q1 2026), +10% from a year earlier and -2% from the quarter before.
Was Affiliated Managers Group profitable in the first quarter 2026?
Operating profit was $193M (35.4% of revenue) and net earnings $110M.