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Andrea Prochniak, Investors
212.756.4542
andrea.prochniak@abglobal.com
                       

Jonathan Freedman, Media
212.823.2687
jonathan.freedman@abglobal.com


ALLIANCEBERNSTEIN HOLDING L.P. ANNOUNCES FOURTH QUARTER RESULTS
GAAP Diluted Net Income of $0.77 per Unit
Adjusted Diluted Net Income of $0.67 per Unit
Cash Distribution of $0.67 per Unit



New York, NY, February 14, 2017- AllianceBernstein L.P. (“AB”) and AllianceBernstein Holding L.P. (“AB Holding”) (NYSE: AB) today reported financial and operating results for the quarter ended December 31, 2016.
“In a year characterized by uncertainty and change, I’m proud of all we were able to accomplish in executing on our long-term growth strategy,” said Peter S. Kraus, Chairman and Chief Executive Officer. “During challenging times, we maintained strong long-term track records in the large majority of our fixed income and equity strategies; expanded our business in promising growth areas like customized factor analysis, energy and real estate commercial debt; and increased our adjusted operating margin for the fifth straight year.”
(US $ Thousands except per Unit amounts)
4Q 2016
 
4Q 2015
 
4Q 2016 vs 4Q 2015 Change
 
3Q 2016
 
4Q 2016 vs 3Q 2016 Change
 
 
 
 
 
 
 
 
 
 
U.S. GAAP Financial Measures
 
 
 
 
 
 
 
 
 
Net revenues
$
786,256

 
$
726,726

 
8.2
%
 
$
747,591

 
5.2
%
Operating income
$
222,239

 
$
170,913

 
30.0
%
 
$
185,309

 
19.9
%
Operating margin
27.4
%
 
23.3
%
 
410 bps

 
22.7
%
 
470 bps

AB Holding Diluted EPU (1)
$
0.77

 
$
0.52

 
48.1
%
 
$
0.52

 
48.1
%
 
 
 
 
 
 
 
 
 
 
Adjusted Financial Measures (2)
 
 
 
 
 
 
 
 
 
Net revenues
$
661,969

 
$
606,371

 
9.2
%
 
$
613,380

 
7.9
%
Operating income
$
208,863

 
$
161,746

 
29.1
%
 
$
148,656

 
40.5
%
Operating margin
31.6
%
 
26.7
%
 
400 bps

 
24.2
%
 
740 bps

AB Holding Diluted EPU
$
0.67

 
$
0.50

 
34.0
%
 
$
0.45

 
48.9
%
AB Holding cash distribution per Unit
$
0.67

 
$
0.50

 
34.0
%
 
$
0.45

 
48.9
%
 
 
 
 
 
 
 
 
 
 
(US $ Billions)
 
 
 
 
 
 
 
 
 
Assets Under Management
 
 
 
 
 
 
 
 
 
Ending AUM
$
480.2

 
$
467.4

 
2.7
%
 
$
490.2

 
(2.0
%)
Average AUM
$
482.9

 
$
470.9

 
2.5
%
 
$
492.0

 
(1.8
%)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
(1) The GAAP AB Holding Diluted EPU has been revised for 4Q15.
(2) The adjusted financial measures are all non-GAAP financial measures. See page 15 for reconciliations of GAAP Financial Results to Adjusted Financial Results and pages 16-17 for notes describing the adjustments.


www.abglobal.com
 
1 of 17

The following information was filed by Alliancebernstein L.P. (ZLTQ) on Tuesday, February 14, 2017 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-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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