AllianceBernstein Holding L.P. (NYSE:AB) reported second-quarter results on Tuesday that met earnings expectations but came in slightly below Wall Street forecasts on revenue, as the asset manager continued to benefit from stronger client inflows and record assets under management.
The company’s stock edged 0.18% higher in after-hours trading following the earnings release.
Adjusted earnings per unit were $0.82, matching analyst expectations, while quarterly revenue totalled $887.6 million, below the consensus estimate of $895.15 million.
Record Assets Under Management Support Profit Growth
AllianceBernstein reported adjusted net revenues of $887.6 million, an increase of 5% from $844.4 million in the same period last year, supported by higher investment advisory base fees.
Assets under management climbed to a record $905.5 billion as of June 30, 2026, representing a 9% increase from $829.1 billion a year earlier.
The company also improved profitability during the quarter, with adjusted operating income rising 7% year over year to $293 million. Adjusted operating margin expanded by 70 basis points to 33.0%.
Client Inflows Return to Positive Territory
AllianceBernstein generated $800 million of net inflows during the second quarter, marking a return to organic growth after recording net outflows in each of the previous four quarters.
“We returned to organic growth in the second quarter, generating $0.8 billion net inflows on our strongest sales quarter in five years, rebounding from outflows over the last four quarters,” said Seth Bernstein, Chief Executive Officer.
Bernstein added that fixed income strategies attracted approximately $3 billion in net inflows, including a $9 billion passive retail sub-advisory mandate, while alternative investments delivered more than $4 billion in net inflows for the sixth consecutive quarter.
Retail and Institutional Businesses Record Positive Flows
The retail business delivered record gross sales of $31 billion and generated net inflows of $900 million during the quarter.
Meanwhile, the institutional business also returned to organic growth, recording net inflows of $600 million.
Active equity and taxable fixed income strategies experienced net outflows of approximately $11 billion and $5 billion, respectively, largely reflecting retail client redemptions concentrated in the Asia-Pacific region.
AllianceBernstein also declared a cash distribution of $0.82 per unit, payable on August 27, 2026, to unitholders of record as of August 12, 2026.
AllianceBernstein Holding stock price
