MGR Q2 2019 Earnings Report — Affiliated Managers Group, Inc. Revenue & Financial Results | Market Cap Arena

Affiliated Managers Group, Inc.MGR

Q2 2019 Earnings

Reported August 1, 2019

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	Q2 2019	Q1 2019	Q2 2018	QoQ Change	YoY Change
Revenue	$592M	$543M	$600M	9.0%	-1.4%
Op. Income	$199M	$219M	$214M	-9.3%	-7.0%
Gross Margin	56.4%	58.0%	59.8%	-1.6pp	-3.4pp
Net Margin	18.2%	-37.0%	19.5%	55.2pp	-1.3pp
EPS (Diluted)	$2.11	$-3.87	$2.16	154.5%	-2.3%
Free Cash Flow	$324M	-$21M	$368M	1649.3%	-11.9%

Revenue Flow

Item	Amount
REVENUE	$592M
Cost of Revenue	$258M
GROSS PROFIT	$334M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$96M
Other Expenses	$0
Operating Expenses	$105M
Cost & Expenses	$363M
OPERATING INCOME	$199M
Interest Income	$0
Interest Expense	$20M
Other Income/Expenses	$37M
INCOME BEFORE TAX	$216M
Income Tax Expense	$36M
Net Income from Continuing Ops	$180M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$108M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$108M
D&A	$27M
EBIT	$199M
EBITDA	$226M
EPS	$2
EPS Diluted	$2

Income Statement

Item	Amount
REVENUE	$592M
Cost of Revenue	$258M
GROSS PROFIT	$334M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$96M
Other Expenses	$0
Operating Expenses	$105M
Cost & Expenses	$363M
OPERATING INCOME	$199M
Interest Income	$0
Interest Expense	$20M
Other Income/Expenses	$37M
INCOME BEFORE TAX	$216M
Income Tax Expense	$36M
Net Income from Continuing Ops	$180M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$108M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$108M
D&A	$27M
EBIT	$199M
EBITDA	$226M
EPS	$2
EPS Diluted	$2

Cash Flow Statement

Item	Amount
Net Income	$108M
Depreciation & Amortization	$27M
Stock-Based Compensation	$23M
Deferred Income Tax	$0
Other Non-Cash Items	$165M
Change in Working Capital	$5M
OPERATING CASH FLOW	$327M
Capital Expenditure	-$3M
Acquisitions (Net)	$0
Purchases of Investments	$0
Sales/Maturities of Investments	$0
Other Investing Activities	-$40M
NET CASH FROM INVESTING	-$43M
Net Debt Issuance	$9M
Common Stock Repurchased	-$107M
Common Dividends Paid	-$16M
Other Financing Activities	-$113M
NET CASH FROM FINANCING	-$227M
FREE CASH FLOW	$324M
Net Change in Cash	$55M

Balance Sheet

Item	Amount
Cash & Equivalents	$360M
Short-Term Investments	$34M
Net Receivables	$529M
Inventory	$0
Other Current Assets	$86M
TOTAL CURRENT ASSETS	$1.0B
PP&E (Net)	$108M
Goodwill	$2.6B
Intangible Assets	$1.3B
Long-Term Investments	$2.5B
Tax Assets	$422M
Other Non-Current Assets	-$247M
TOTAL NON-CURRENT ASSETS	$6.7B
TOTAL ASSETS	$7.7B
Account Payables	$0
Short-Term Debt	$0
Deferred Revenue	$0
Other Current Liabilities	$55M
TOTAL CURRENT LIABILITIES	$72M
Long-Term Debt	$1.8B
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$1.1B
TOTAL NON-CURRENT LIABILITIES	$3.1B
TOTAL LIABILITIES	$3.2B
Common Stock	$600.0K
Additional Paid-In Capital	$836M
Retained Earnings	$3.7B
Treasury Stock	-$1.3B
Accum. Other Comp. Income	-$95M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$3.2B
Minority Interest	$1.3B
TOTAL EQUITY	$4.6B
TOTAL LIABILITIES & EQUITY	$7.7B
Total Debt	$2.0B
Net Debt	$1.7B