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Alliancebernstein Holding L.P. (AB) SEC Filing 10-Q Quarterly report for the period ending Tuesday, March 31, 2020

SEC Filings

Alliancebernstein Holding L.P.

CIK: 825313 Ticker: AB
image0a84.gif
Mark Griffin, Investors
629.213.5672
mark.griffin@alliancebernstein.com

Jennifer Casey, Media
212.969.1157
jennifer.casey@alliancebernstein.com



ALLIANCEBERNSTEIN HOLDING L.P. ANNOUNCES FOURTH QUARTER RESULTS
GAAP Diluted Net Income of $0.84 per Unit
Adjusted Diluted Net Income of $0.85 per Unit
Cash Distribution of $0.85 per Unit

New York, NY, February 12, 2020 - AllianceBernstein L.P. (“AB”) and AllianceBernstein Holding L.P. (“AB Holding”) (NYSE: AB) today reported financial and operating results for the quarter and year ended December 31, 2019.
"Our global platform experienced broad-based growth during 2019, demonstrating strong progress in executing on our growth strategy,” said Seth P. Bernstein, President and CEO of AllianceBernstein. "Active organic growth of 6.5% reflected strength across our global fixed income, equity and alternative platforms. Combined with strong markets, AUM of $623 billion grew 21% from the prior year, while our fee rate remained essentially flat. Investments to revitalize our active equities platform and diversify our global business have produced distinguished results and position the firm to sustain our momentum.”
(US $ Thousands except per Unit amounts)
4Q 2019
 
4Q 2018
 
% Change
 
2019
 
2018
 
% Change
 
 
 
 
 
 
 
 
 
 
 
 
U.S. GAAP Financial Measures
 
 
 
 
 
 
 
 
 
 
 
Net revenues
$
987,304

 
$
804,660

 
22.7
%
 
$
3,518,432

 
$
3,367,361

 
4.5
%
Operating income
$
268,283

 
$
199,359

 
34.6
%
 
$
823,437

 
$
825,314

 
(0.2
%)
Operating margin
26.4
%
 
25.0
%
 
140 bps

 
22.6
%
 
23.9
%
 
(130 bps)

AB Holding Diluted EPU
$
0.84

 
$
0.63

 
33.3
%
 
$
2.49

 
$
2.50

 
(0.4
%)
 
 
 
 
 
 
 
 
 
 
 
 
Adjusted Financial Measures (1)
 
 
 
 
 
 
 
 
 
 
 
Net revenues
$
817,457

 
$
696,418

 
17.4
%
 
$
2,916,615

 
$
2,925,604

 
(0.3
%)
Operating income
$
263,974

 
$
204,227

 
29.3
%
 
$
802,444

 
$
852,059

 
(5.8
%)
Operating margin
32.3
%
 
29.3
%
 
300 bps

 
27.5
%
 
29.1
%
 
(160 bps)

AB Holding Diluted EPU
$
0.85

 
$
0.64

 
32.8
%
 
$
2.52

 
$
2.67

 
(5.6
%)
AB Holding cash distribution per Unit
$
0.85

 
$
0.64

 
32.8
%
 
$
2.53

 
$
2.68

 
(5.6
%)
 
 
 
 
 
 
 
 
 
 
 
 
(US $ Billions)
 
 
 
 
 
 
 
 
 
 
 
Assets Under Management ("AUM")
 
 
 
 
 
 
 
 
 
 
 
Ending AUM
$
622.9

 
$
516.4

 
20.6
%
 
$
622.9

 
$
516.4

 
20.6
%
Average AUM
$
606.8

 
$
532.5

 
14.0
%
 
$
574.2

 
$
544.2

 
5.5
%
 
 
 
 
 
 
 
 
 
 
 
 
(1) The adjusted financial measures represent non-GAAP financial measures. See page 15 for reconciliations of GAAP Financial Results to Adjusted Financial Results and pages 16-17 for notes describing the adjustments.



www.alliancebernstein.com
 
1 of 17

The following information was filed by Alliancebernstein Holding L.P. (AB) on Wednesday, February 12, 2020 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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Inside Alliancebernstein Holding L.P.'s 10-Q Quarterly Report:
Ticker: AB
CIK: 825313
Form Type: 10-Q Quarterly Report
Accession Number: 0000825313-20-000030
Submitted to the SEC: Tue Apr 28 2020 6:49:33 AM EST
Accepted by the SEC: Tue Apr 28 2020
Period: Tuesday, March 31, 2020
Industry: Investment Advice

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