Ameriprise Financial (NYSE: AMP ) reported earnings on Oct. 24. Here are the numbers you need to know.
The 10-second takeaway
For the quarter ended Sep. 30 (Q3), Ameriprise Financial missed estimates on revenues and beat expectations on earnings per share.
Compared to the prior-year quarter, revenue was unchanged and GAAP earnings per share dropped significantly.
Margins dropped across the board.
Ameriprise Financial chalked up revenue of $2.47 billion. The five analysts polled by S&P Capital IQ wanted to see revenue of $2.68 billion on the same basis. GAAP reported sales were 0.5% higher than the prior-year quarter's $2.47 billion.
Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.
EPS came in at $1.32. The 11 earnings estimates compiled by S&P Capital IQ forecast $1.25 per share. GAAP EPS of $0.79 for Q3 were 30% lower than the prior-year quarter's $1.13 per share. (The prior-year quarter included $0.01 per share in earnings from discontinued operations.)
Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.
For the quarter, gross margin was 49.1%, 230 basis points worse than the prior-year quarter. Operating margin was 19.6%, 340 basis points worse than the prior-year quarter. Net margin was 7.0%, 410 basis points worse than the prior-year quarter.
Next quarter's average estimate for revenue is $2.75 billion. On the bottom line, the average EPS estimate is $1.55.
Next year's average estimate for revenue is $10.61 billion. The average EPS estimate is $5.43.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Ameriprise Financial is outperform, with an average price target of $64.67.
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