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Earnings analysis · 10-Q

APAM earnings analysis

Filed May 4, 2026 · Our reading of the company's report

The latest report

Artisan Partners Asset Management Inc. reported Q1 2026 results with revenues of $303.0 million, reflecting a 9% increase year-over-year. Adjusted EPS stood at $0.87, slightly down from $0.82 in the prior year, and the…

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Artisan Partners Asset Management Inc. reported Q1 2026 results with revenues of $303.0 million, reflecting a 9% increase year-over-year. Adjusted EPS stood at $0.87, slightly down from $0.82 in the prior year, and the operating margin and net income showed minor declines due to higher expenses. Additionally, assets under management (AUM) declined to $173 billion, influenced by market depreciation and client outflows.

Read the original on SEC.gov

Reported figures

Earnings per share
$0.87
Operating margin
31.1%

What stood out

  • Revenue Growth of 9% Year-over-Year

    Total revenue reached $303.0 million for Q1 2026, up from $277.1 million in Q1 2025.

  • Adjusted EPS of $0.87

    Adjusted earnings per share for Q1 2026 were $0.87, compared to $0.82 in the same quarter last year.

  • Operating Margin Steady

    GAAP operating margin for the quarter was 31.1%, consistent with prior periods.

  • Increase in Average AUM

    Average assets under management grew 9% year-over-year to $182.4 billion.

  • Dividends Declared

    Dividends per share declared were $1.58 for Q1 2026, up from $1.34 in Q1 2025.

  • Cash and Cash Equivalents Increased

    Cash and cash equivalents rose to $271.1 million as of March 31, 2026, from $214.4 million at year-end 2025.

What to watch

  • Decline in AUM

    AUM decreased by $6.9 billion, or 4%, primarily due to market depreciation and net client outflows of $3.1 billion.

  • Increased Operating Expenses

    Total operating expenses increased to $208.8 million, up 10% from $190.6 million in the prior year.

  • Investment Performance Losses

    Non-operating investments recorded a loss of $7.6 million due to unfavorable market conditions.

Management's outlook

Management anticipates continued volatility in AUM driven by market conditions and client asset flows.

This is our reading of a public filing, not the filing itself. Analysis can contain errors; check the source document for full context.