Alliancebernstein L.P. 10-Q Quarterly Report Thu Oct 24 2019

New York, NY, July 25, 2019 - AllianceBernstein L.P. (“AB”) and AllianceBernstein Holding L.P. (“AB Holding”) (NYSE: AB) today reported financial and operating results for the quarter ended June 30, 2019.

"Our second quarter results continue to reflect momentum in several areas of our business," said Seth P. Bernstein, President and CEO of AllianceBernstein. "Total firmwide net inflows of $9.5 billion were positive for a fourth straight quarter and were driven by $10.2 billion of active net inflows. Year-to-date active net inflows of $12.3 billion translates to a 5.4% annualized organic growth rate and is our best first half in more than a decade."



(US $ Thousands except per Unit amounts)	2Q 2019			2Q 2018			2Q 2019 vs 2Q 2018 % Change		1Q 2019			2Q 2019 vs. 1Q 2019 % Change

U.S. GAAP Financial Measures
Net revenues	$	857,799		$	844,738		1.5	%	$	795,462		7.8	%
Operating income	$	184,220		$	189,464		(2.8	)%	$	168,151		9.6	%
Operating margin	20.6		%	22.4		%	(180 bps)		19.9		%	70 bps
AB Holding Diluted EPU	$	0.54		$	0.59		(8.5	)%	$	0.49		10.2	%

Adjusted Financial Measures ⁽¹⁾
Net revenues	$	714,566		$	719,692		(0.7	)%	$	657,884		8.6	%
Operating income	$	179,685		$	196,744		(8.7	)%	$	158,857		13.1	%
Operating margin	25.1		%	27.3		%	(220 bps)		24.1		%	100 bps
AB Holding Diluted EPU	$	0.56		$	0.62		(9.7	)%	$	0.49		14.3	%
AB Holding cash distribution per Unit	$	0.56		$	0.62		(9.7	)%	$	0.49		14.3	%

(US $ Billions)
Assets Under Management
Ending AUM	$	580.8		$	539.8		7.6	%	$	554.7		4.7	%
Average AUM	$	565.9		$	542.2		4.4	%	$	539.2		5.0	%

(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.



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The following information was filed by Alliancebernstein L.P. on Thursday, July 25, 2019 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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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: 0001109448-19-000056
Submitted to the SEC: Thu Oct 24 2019 6:42:38 AM EST
Accepted by the SEC: Thu Oct 24 2019
Period: Monday, September 30, 2019
Industry: Investment Advice

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