Filing Flows › Cohen & Steers (CNS) › Q1 2026
Cohen & Steers (CNS) Q1 2026 earnings results (first quarter 2026)
10-Q filed May 1, 2026
Cohen & Steers (CNS) reported revenue of $146M for the first quarter 2026 (Q1 2026), +8% from a year earlier and +1% from the quarter before. Operating margin was 34.4%, net earnings $42.4M (29.1% of revenue).
Cohen & Steers, Q1 2026: revenue $146M (+8% year over year), operating margin 34.4%, net earnings $42.4M, operating cash flow −$51.4M. The chart follows the revenue to costs, profit and cash.
| Q1 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $146M | +1% | +8% |
| Operating profit | $50.1M | +24% | +11% |
| Net earnings | $42.4M | +21% | +7% |
| Operating cash flow | −$51.4M | -4955% | — |
What changed
Revenue was $145.6M in Q1 2026, up 8% year over year and up 1% from the previous quarter. Open-end funds was the largest line at 58% of revenue. Open-end funds added $6.5M year over year (up 8%), 58% of the total change.
Operating profit was $50.1M, a 34.4% margin (up 0.8 points year over year). Of the extra revenue versus Q1 2025, 44% reached operating profit, above the 34% margin then. Total costs grew 7% against revenue growth of 8%. The fastest-growing cost line was General & admin (+10%). Net earnings were $42.4M, up 7% year over year ($41.2M including minority interests, which bore $1.1M of losses). The effective tax rate was 27.9%.
Operating cash flow was −$51.4M. Non-cash charges added back $2.6M of depreciation and amortization and $10.8M of share-based compensation. Working capital and other items used $106.0M. Capital expenditures of $108K exceeded it, leaving free cash flow of −$51.5M.
Questions
What was Cohen & Steers' revenue in the first quarter 2026?
Cohen & Steers (CNS) reported revenue of $146M for the first quarter 2026 (Q1 2026), +8% from a year earlier and +1% from the quarter before.
Was Cohen & Steers profitable in the first quarter 2026?
Operating profit was $50.1M (34.4% of revenue) and net earnings $42.4M.
Source: Cohen & Steers 10-Q on SEC EDGAR.