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

Alliancebernstein Holding L.P.

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 SECOND QUARTER RESULTS
GAAP Diluted Net Income of $0.59 per Unit
Adjusted Diluted Net Income of $0.61 per Unit
Cash Distribution of $0.61 per Unit

New York, NY, July 23, 2020 - AllianceBernstein L.P. (“AB”) and AllianceBernstein Holding L.P. (“AB Holding”) (NYSE: AB) today reported financial and operating results for the quarter ended June 30, 2020.
“The firm delivered strong second quarter results in a dynamic operating environment, as financial markets rebounded from March crisis lows," said Seth P. Bernstein, President and CEO of AllianceBernstein. “We focused on servicing our clients' distinct needs through delivering differentiated investment performance. Our platform generated net inflows of $4.6 billion or 3% annualized organic growth, excluding expected low-fee AXA redemptions of $7.9 billion. Both Retail and Institutional had very strong sales quarters, and our pipeline of institutional mandates reached a new record, reflecting continued active equities and alternatives strength. Investment performance improved in our fixed income strategies as credit sectors recovered. We expanded operating margins both year-over-year and sequentially."
(US $ Thousands except per Unit amounts)
2Q 2020
 
2Q 2019
 
% Change
 
1Q 2020
 
% Change
U.S. GAAP Financial Measures
 
 
 
 
 
 
 
 
 
Net revenues
$
871,449

 
$
857,799

 
1.6
 %
 
$
874,156

 
(0.3
%)
Operating income
$
209,647

 
$
184,220

 
13.8
 %
 
$
178,223

 
17.6
%
Operating margin
21.7
%
 
20.6
%
 
110 bps

 
23.3
%
 
(160 bps)

AB Holding Diluted EPU
$
0.59

 
$
0.54

 
9.3
 %
 
$
0.63

 
(6.3
%)
 
 
 
 
 
 
 
 
 
 
Adjusted Financial Measures (1)
 
 
 
 
 
 
 
 
 
Net revenues
$
698,725

 
$
714,566

 
(2.2
)%
 
$
743,803

 
(6.1
%)
Operating income
$
195,013

 
$
179,685

 
8.5
 %
 
$
205,590

 
(5.1
%)
Operating margin
27.9
%
 
25.1
%
 
280 bps

 
27.6
%
 
30 bps

AB Holding Diluted EPU
$
0.61

 
$
0.56

 
8.9
 %
 
$
0.64

 
(4.7
%)
AB Holding cash distribution per Unit
$
0.61

 
$
0.56

 
8.9
 %
 
$
0.64

 
(4.7
%)
 
 
 
 
 
 
 
 
 

(US $ Billions)
 
 
 
 
 
 
 
 
 
Assets Under Management ("AUM")
 
 
 
 
 
 
 
 
 
Ending AUM
$
600.0

 
$
580.8

 
3.3
 %
 
$
541.8

 
10.7
%
Average AUM
$
578.5

 
$
565.9

 
2.2
 %
 
$
602.0

 
(3.9
%)
(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 Thursday, July 23, 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: 0000825313-20-000067
Submitted to the SEC: Thu Oct 22 2020 6:34:11 AM EST
Accepted by the SEC: Thu Oct 22 2020
Period: Wednesday, September 30, 2020
Industry: Investment Advice

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