Alliancebernstein Holding L.P. (AB) SEC Filing 10-Q Quarterly report for the period ending Saturday, June 30, 2018

Earnings Press Release
10-Q Quarterly Report
10-Q QoQ Changes
Alliancebernstein Holding L.P.
Ticker: AB CIK: 825313



		Andrea Prochniak, Investors and Media 212.756.4542 andrea.prochniak@AllianceBernstein.com

ALLIANCEBERNSTEIN HOLDING L.P. ANNOUNCES SECOND QUARTER RESULTS

GAAP Diluted Net Income of $0.59 per Unit

Adjusted Diluted Net Income of $0.62 per Unit

Cash Distribution of $0.62 per Unit

New York, NY, July 26, 2018 - 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, 2018.

“Despite ongoing volatility in the global markets during the quarter, we maintained strong client momentum in the key areas of our business,” said Seth P. Bernstein, President and CEO of AllianceBernstein. “Active equity net flows of $3.4 billion were positive for the second consecutive quarter in both Institutional and Retail, on the back of continued investment outperformance, and we once again expanded our fee realization rate and adjusted operating margin.”



(US $ Thousands except per Unit amounts)	2Q 2018			2Q 2017			2Q 2018 vs 2Q 2017 % Change		1Q 2018			2Q 2018 vs 1Q 2018 % Change

U.S. GAAP Financial Measures
Net revenues	$	844,738		$	802,313		5.3	%	$	867,787		(2.7	%)
Operating income	$	189,464		$	162,537		16.6	%	$	222,671		(14.9	%)
Operating margin	22.4		%	18.1		%	430 bps		23.0		%	(60 bps)
AB Holding Diluted EPU	$	0.59		$	0.43		37.2	%	$	0.60		(1.7	%)

Adjusted Financial Measures ⁽¹⁾
Net revenues⁽²⁾	$	719,692		$	651,665		10.4	%	$	782,349		(8.0	%)
Operating income	$	196,744		$	162,326		21.2	%	$	235,330		(16.4	%)
Operating margin ⁽²⁾	27.3		%	24.9		%	240 bps		30.1		%	(280 bps)
AB Holding Diluted EPU	$	0.62		$	0.49		26.5	%	$	0.73		(15.1	%)
AB Holding cash distribution per Unit	$	0.62		$	0.49		26.5	%	$	0.73		(15.1	%)

(US $ Billions)
Assets Under Management
Ending AUM	$	539.8		$	516.6		4.5	%	$	549.5		(1.8	%)
Average AUM	$	542.2		$	507.7		6.8	%	$	557.1		(2.7	%)

(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 Holding L.P. (AB) on Thursday, July 26, 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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