image0a50.gif
 
Andrea Prochniak, Investors and Media
212.756.4542
andrea.prochniak@AllianceBernstein.com



ALLIANCEBERNSTEIN HOLDING L.P. ANNOUNCES THIRD QUARTER RESULTS
GAAP Diluted Net Income of $0.68 per Unit
Adjusted Diluted Net Income of $0.69 per Unit
Cash Distribution of $0.69 per Unit


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.

www.alliancebernstein.com
 
1 of 13

The following information was filed by Alliancebernstein Holding L.P. (AB) 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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