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Alliancebernstein Holding L.P. (AB) SEC Filing 10-Q Quarterly report for the period ending Tuesday, June 30, 2020

Alliancebernstein Holding L.P.

HISTORY TOOLS
CIK: 825313 Ticker: AB
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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 FIRST QUARTER RESULTS
GAAP Diluted Net Income of $0.63 per Unit
Adjusted Diluted Net Income of $0.64 per Unit
Cash Distribution of $0.64 per Unit

New York, NY, April 28, 2020 - AllianceBernstein L.P. (“AB”) and AllianceBernstein Holding L.P. (“AB Holding”) (NYSE: AB) today reported financial and operating results for the quarter ended
March 31, 2020.
"AB’s thoughts are with those most impacted by the COVID-19 crisis, including the communities and individuals, first responders and healthcare workers whose sacrifices are for the greater good,” said Seth P. Bernstein, President and CEO of AllianceBernstein. “I am proud of AB’s employees, who have remained resilient and focused, and have responded with solutions for both our clients and our communities as we collectively address the challenges of this unprecedented time. AB’s financial condition has remained strong throughout this period, enabling us to focus on our clients’ needs.”
(US $ Thousands except per Unit amounts)
1Q 2020
 
1Q 2019
 
% Change
 
4Q 2019
 
% Change
 
 
 
 
 
 
 
 
 
 
U.S. GAAP Financial Measures
 
 
 
 
 
 
 
 
 
Net revenues
$
874,156

 
$
795,462

 
9.9
 %
 
$
987,304

 
(11.5
%)
Operating income
$
178,223

 
$
168,151

 
6.0
 %
 
$
268,283

 
(33.6
%)
Operating margin
23.3
%
 
19.9
%
 
340 bps

 
26.4
%
 
(310 bps)

AB Holding Diluted EPU
$
0.63

 
$
0.49

 
28.6
 %
 
$
0.84

 
(25.0
%)
 
 
 
 
 
 
 
 
 
 
Adjusted Financial Measures (1)
 
 
 
 
 
 
 
 
 
Net revenues
$
743,803

 
$
657,884

 
13.1
 %
 
$
817,457

 
(9.0
%)
Operating income
$
205,590

 
$
158,857

 
29.4
 %
 
$
263,974

 
(22.1
%)
Operating margin
27.6
%
 
24.1
%
 
350 bps

 
32.3
%
 
(470 bps)

AB Holding Diluted EPU
$
0.64

 
$
0.49

 
30.6
 %
 
$
0.85

 
(24.7
%)
AB Holding cash distribution per Unit
$
0.64

 
$
0.49

 
30.6
 %
 
$
0.85

 
(24.7
%)
 
 
 
 
 
 
 
 
 

(US $ Billions)
 
 
 
 
 
 
 
 
 
Assets Under Management ("AUM")
 
 
 
 
 
 
 
 
 
Ending AUM
$
541.8

 
$
554.7

 
(2.3
%)
 
$
622.9

 
(13.0
%)
Average AUM
$
602.0

 
$
539.2

 
11.6
%
 
$
606.8

 
(0.8
%)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 

(1) The adjusted financial measures represent 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.

www.alliancebernstein.com
 
1 of 13
The following information was filed by Alliancebernstein Holding L.P. (AB) on Tuesday, April 28, 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: 0000825313-20-000046
Submitted to the SEC: Thu Jul 23 2020 6:37:12 AM EST
Accepted by the SEC: Thu Jul 23 2020
Period: Tuesday, June 30, 2020
Industry: Investment Advice

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