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

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



	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.



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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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