stockrowLatest quarter
Ameriprise reported third-quarter revenue of $5.1 billion, above the $5.0 billion consensus. Adjusted earnings per share, as the consensus counts them, were $12.07, compared with the $11.60 consensus.
Revenue rose from $4.8 billion a year earlier, while diluted earnings per share increased to $12.32 from $9.33. The company’s filing attributed growth in management and financial advice fees to market appreciation and wrap-account inflows, partly offset by the cumulative effect of Asset Management outflows.
The filing said Advice & Wealth Management pretax adjusted operating earnings rose, helped by market appreciation and advisor productivity. Asset Management earnings also increased, although the business recorded net outflows. Retirement & Protection Solutions earnings declined, primarily because of actuarial assumption updates.
Ameriprise reported an operating margin of 34.1%, compared with 33.0% a year earlier. Free cash flow fell to $1.4 billion from $2.2 billion.
| Q3 FY2026 | Q3 FY2025 | Change | |
|---|---|---|---|
| Revenue | $5.1 billion | $4.8 billion | 6.80% |
| Diluted EPS | $12.32 | $9.33 | 32.0% |
| Gross margin | 100.0% | 100.0% | 0.0 percentage points |
| Operating margin | 34.1% | 33.0% | 1.1 percentage points |
| Free cash flow | $1.4 billion | $2.2 billion | −33.8% |
| Against the consensus | Reported | Consensus | Result |
|---|---|---|---|
| Adjusted EPS | $12.07 | $11.60 | Beat by 4.05% |
| Revenue | $5.1 billion | $5.0 billion | Beat by 0.79% |
Adjusted EPS is the figure the consensus estimates, not the GAAP EPS above.
What management said on the call
Ameriprise’s latest earnings call was not available for review, so its call commentary cannot be reported here.
Guidance
Ameriprise’s latest outlook calls for flat Asset Management general and administrative expenses for the full year, excluding Seligman and other performance fee compensation. Its previous outlook also called for flat general and administrative expenses with those exclusions.
| Metric | For | Guide | Previous guide | Change |
|---|---|---|---|---|
| Operating expenses, Asset Management Excluding Seligman and Other Performance Fee Compensation | FY2026 | Ameriprise expects Asset Management general and administrative expenses to be flat for FY2026, excluding Seligman and other performance fee compensation. | — | — |
| Headcount, Advisors Joining Platform | FY2027 | 29 | — | — |
| Operating expenses, General and administrative expenses excluding seligman and other performance fee compensation | FY2026 | Ameriprise Financial expects full-year general and administrative expenses to be flat excluding Seligman and other performance fee compensation. | — | — |