Ameriprise Q1 Earnings Beat Estimates as Revenues & AUM Grow Y/Y

Ameriprise Financial’s AMP first-quarter 2026 adjusted operating earnings were a record $11.26 per share, which handily surpassed the Zacks Consensus Estimate of $10.20. The bottom line reflected a rise of 19% from the year-ago quarter.

Results benefited from higher revenues and improvements in the assets under management (AUM) and assets under administration (AUA) balances. However, an increase in expenses was a headwind.

After considering significant items, net income (GAAP basis) was $915 million or $9.68 per share, up from $583 million or $5.83 per share in the prior-year quarter.

AMP’s Adjusted Revenues Improve, Expenses Rise

Adjusted operating total net revenues in the reported quarter were $4.77 billion, increasing 11% year over year. The top line beat the Zacks Consensus Estimate of $4.67 billion. Total GAAP net revenues were $4.81 billion, up 11% year over year.

Adjusted operating expenses totaled $3.44 billion, rising 9% year over year.

As of March 31, 2026, total AUM and AUA were $1.67 trillion, up 12% year over year.

Update on Ameriprise’s Share Repurchases

The company repurchased 1.6 million shares for $784 million in the reported quarter.

Our Take on AMP

Ameriprise is well-positioned for impressive top-line growth on the back of its robust AUM balance and business-restructuring initiatives. However, elevated expenses (mainly due to technology upgrades) will likely continue to hurt the bottom line.

AMP currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Performance of AMP’s Peers

BlackRock’s BLK first-quarter 2026 adjusted earnings of $12.53 per share handily surpassed the Zacks Consensus Estimate of $11.96. The figure reflects a 10.9% rise from the year-ago quarter.

BLK’s results benefited from a rise in revenues. The AUM balance witnessed robust year-over-year growth, driven by net inflows. However, higher expenses created a headwind.

Blackstone’s BX first-quarter 2026 distributable earnings of $1.36 per share surpassed the Zacks Consensus Estimate of $1.33. The figure jumped 25% from the prior-year quarter.

BX’s results benefited from a rise in AUM balance and higher revenues. However, an increase in GAAP expenses was the undermining factor.

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This article originally published on Zacks Investment Research (zacks.com).

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