Filing Flows › Affiliated Managers Group (AMG) › Q4 2024
Affiliated Managers Group (AMG) Q4 2024 earnings results (fourth quarter 2024)
10-K filed Feb 14, 2025
Affiliated Managers Group (AMG) reported revenue of $524M for the fourth quarter 2024 (Q4 2024), +4% from a year earlier and +2% from the quarter before. Operating margin was 52.2%, net earnings $162M (30.9% of revenue).
Affiliated Managers Group, Q4 2024: revenue $524M (+4% year over year), operating margin 52.2%, net earnings $162M, operating cash flow $212M. The chart follows the revenue to costs, profit and cash.
| Q4 2024 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $524M | +2% | +4% |
| Operating profit | $274M | +26% | -0.1% |
| Net earnings | $162M | +31% | -17% |
| Operating cash flow | $212M | -20% | -17% |
| Free cash flow | $211M | -20% | -15% |
What changed
Revenue was $524.3M in Q4 2024, up 4% year over year and up 2% from the previous quarter.
Operating profit was $273.7M, a 52.2% margin (down 2.3 points year over year). Operating profit fell $400K even though revenue rose $21.7M versus a year earlier, so costs grew faster than sales. Total costs grew 10% against revenue growth of 4%. The fastest-growing cost line was SG&A (+16%). Net earnings were $162.1M, down 17% year over year. The effective tax rate was 19.2%.
Operating cash flow was $212.5M (down 17% year over year), 96% of net income including minority interests. Non-cash charges added back $23.0M of share-based compensation. Working capital and other items used $31.6M. Capital expenditures of $1.1M left free cash flow of $211.4M.
Questions
What was Affiliated Managers Group's revenue in the fourth quarter 2024?
Affiliated Managers Group (AMG) reported revenue of $524M for the fourth quarter 2024 (Q4 2024), +4% from a year earlier and +2% from the quarter before.
Was Affiliated Managers Group profitable in the fourth quarter 2024?
Operating profit was $274M (52.2% of revenue) and net earnings $162M.