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August 2022
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![]() | Mark Griffin, Investors 629.213.5672 mark.griffin@alliancebernstein.com | Jennifer Casey, Media 212.969.1157 jennifer.casey@alliancebernstein.com |
(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 | %) | |||||||
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Compare this 10-Q Quarterly Report to its predecessor by reading our highlights to see what text and tables were removed , added and changed by Alliancebernstein Holding L.P..
Alliancebernstein Holding L.P.'s Definitive Proxy Statement (Form DEF 14A) filed after their 2020 10-K Annual Report includes:
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As supplemental information, AB provides the performance measures "adjusted net revenues," "adjusted operating income" and "adjusted operating margin," which are the principal metrics management uses in evaluating and comparing the period-to-period operating performance of AB.
These assumptions include: the amount and timing of employee relocation costs, severance and overlapping compensation and occupancy costs we experience; and the timing for execution of each phase of our relocation implementation plan.
The increase primarily resulted from higher cash distributions received from AB of $38.6 million.
Though we have stated that we do not expect any pending legal proceedings to have a material adverse effect on our results of operations, financial condition or liquidity, any settlement or judgment with respect to a legal proceeding could be significant and could have such an effect.
Our adjusted operating margin, which was 27.5% during 2019, increased to 27.8% during the first six months of 2020.
Management anticipates that Available Cash...Read more
For further information regarding these...Read more
The possibility that we will...Read more
The increase primarily was due...Read more
Available Cash Flow typically is...Read more
Index Our 2020 Margin Target:...Read more
We remain committed to achieving...Read more
An increase in redemptions, absent...Read more
It is important to remember...Read more
The forward-looking statements referred to...Read more
Our financial condition and ability...Read more
These non-GAAP measures are provided...Read more
Fluctuations in our revenues and/or...Read more
Our ability to access public...Read more
Further, adjusted diluted net income...Read more
Financial Statements, Disclosures and Schedules
Inside this 10-Q Quarterly Report
Material Contracts, Statements, Certifications & more
Alliancebernstein Holding L.P. provided additional information to their SEC Filing as exhibits
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