Alliancebernstein L.P. 10-Q Quarterly Report October 2018

New York, NY, October 24, 2018 - AllianceBernstein L.P. (“AB”) and AllianceBernstein Holding L.P. (“AB Holding”) (NYSE: AB) today reported financial and operating results for the quarter ended September 30, 2018.

“Results from this quarter reflect relentless execution of our long-term strategy.” said Seth P. Bernstein, President and CEO of AllianceBernstein. “Our portfolio fee rate increased by nearly 2% year-on-year, thanks largely to continued growth in alternatives and active equities. Active net inflows of $2.5 billion in the quarter were led by equity net inflows of $2.9 billion and essentially flat fixed income net flows represented a $5.5 billion sequential improvement. Adjusted operating income and adjusted earnings per unit were up 31% and 35%, respectively, year-on-year.”



(US $ Thousands except per Unit amounts)	3Q 2018			3Q 2017			3Q 2018 vs 3Q 2017 % Change		2Q 2018			3Q 2018 vs 2Q 2018 % Change

U.S. GAAP Financial Measures
Net revenues	$	850,176		$	812,150		4.7	%	$	844,738		0.6	%
Operating income	$	213,819		$	162,027		32.0	%	$	189,464		12.9	%
Operating margin	25.1		%	17.9		%	720 bps		22.4		%	270 bps
AB Holding Diluted EPU	$	0.68		$	0.46		47.8	%	$	0.59		15.3	%

Adjusted Financial Measures ⁽¹⁾
Net revenues⁽²⁾	$	727,143		$	662,742		9.7	%	$	719,692		1.0	%
Operating income	$	215,758		$	165,393		30.5	%	$	196,744		9.7	%
Operating margin ⁽²⁾	29.7		%	25.0		%	470 bps		27.3		%	240 bps
AB Holding Diluted EPU	$	0.69		$	0.51		35.3	%	$	0.62		11.3	%
AB Holding cash distribution per Unit	$	0.69		$	0.51		35.3	%	$	0.62		11.3	%

(US $ Billions)
Assets Under Management
Ending AUM	$	550.4		$	534.9		2.9	%	$	539.8		2.0	%
Average AUM	$	546.9		$	526.6		3.9	%	$	542.2		0.9	%

(1) The adjusted financial measures are all non-GAAP financial measures. See page 11 for reconciliations of GAAP Financial Results to Adjusted Financial Results and pages 12-13 for notes describing the adjustments.

(2) Prior period adjusted net revenues and operating margin have been revised due to a GAAP reclassification of certain promotion and servicing expenses that impacted adjusted revenues previously presented.



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The following information was filed by Alliancebernstein L.P. on Wednesday, October 24, 2018 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Financial Statements, Disclosures and Schedules

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Alliancebernstein L.P. provided additional information to their SEC Filing as exhibits

Exhibit 31.1: Rule 13A-14(A)/15D-14(A) Certification

Exhibit 31.2: Rule 13A-14(A)/15D-14(A) Certification

Exhibit 32.1: Section 1350 Certification

Exhibit 32.2: Section 1350 Certification

CIK: 1109448
Form Type: 10-Q Quarterly Report
Accession Number: 0001109448-18-000058
Submitted to the SEC: Wed Oct 24 2018 6:58:11 AM EST
Accepted by the SEC: Wed Oct 24 2018
Period: Sunday, September 30, 2018
Industry: Investment Advice

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