Alliancebernstein Holding L.P. (AB) SEC Filing 10-Q Quarterly Report for the period ending Wednesday, March 31, 2021

Alliancebernstein Holding L.P.

CIK: 825313 Ticker: AB

Mark Griffin, Investors

Jennifer Casey, Media

GAAP Diluted Net Income of $0.81 per Unit
Adjusted Diluted Net Income of $0.81 per Unit
Cash Distribution of $0.81 per Unit

New York, NY, April 29, 2021 - 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, 2021.
“Our globally diversified platform continued to drive balanced and consistent organic growth, in a dynamic market environment," said Seth P. Bernstein, President and CEO of AllianceBernstein. “We generated active net inflows of $6.5 billion, or 4% annualized organic growth. Aligned with our firm strategy, net inflows across all three client channels were driven by strength in active equities (including ESG), alternatives, and municipals. Our investment teams delivered improved near-term fixed income performance and solid long-term performance on behalf of our clients, with over 65% of both fixed income and equity assets outperforming on a 5-year basis. Coupled with tight expense management and continued COVID-19 related cost savings, our operating margin expanded to 31.7%, up 410 basis points year-over-year. First quarter earnings and distributions to Unitholders grew by 27% year-over-year."

(US $ Thousands except per Unit amounts)1Q 20211Q 2020% Change4Q 2020% Change
U.S. GAAP Financial Measures
Net revenues$1,007,266 $874,156 15.2 %$1,062,892 (5.2 %)
Operating income$260,584 $178,223 46.2 %$302,420 (13.8 %)
Operating margin25.9 %23.3 %260 bps28.4 %(250 bps)
AB Holding Diluted EPU $0.81 $0.63 28.6 %$0.97 (16.5 %)
Adjusted Financial Measures (1)
Net revenues$819,978 $743,803 10.2 %$879,801 (6.8 %)
Operating income$260,061 $205,590 26.5 %$301,170 (13.6 %)
Operating margin31.7 %27.6 %410 bps34.2 %(250 bps)
AB Holding Diluted EPU $0.81 $0.64 26.6 %$0.97 (16.5 %)
AB Holding cash distribution per Unit$0.81 $0.64 26.6 %$0.97 (16.5 %)
(US $ Billions)
Assets Under Management ("AUM")
Ending AUM$697.2 $541.8 28.7 %$685.9 1.6 %
Average AUM$688.5 $602.0 14.4 %$651.7 5.6 %
(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 Thursday, April 29, 2021 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: 0000825313-21-000021
Submitted to the SEC: Thu Apr 29 2021 6:33:24 AM EST
Accepted by the SEC: Thu Apr 29 2021
Period: Wednesday, March 31, 2021
Industry: Investment Advice

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