The 10-second takeaway
For the quarter ended March 31 (Q1), Ameriprise Financial met expectations on revenues and beat slightly on earnings per share.
Compared to the prior-year quarter, revenue grew. Non-GAAP earnings per share increased. GAAP earnings per share expanded significantly.
Margins grew across the board.
Ameriprise Financial reported revenue of $2.70 billion. The five analysts polled by S&P Capital IQ predicted revenue of $2.71 billion on the same basis. GAAP reported sales were the same as the prior-year quarter's.
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 $1.59. The 12 earnings estimates compiled by S&P Capital IQ anticipated $1.56 per share. Non-GAAP EPS of $1.59 for Q1 were 9.7% higher than the prior-year quarter's $1.45 per share. GAAP EPS of $1.58 for Q1 were 49% higher than the prior-year quarter's $1.06 per share.
Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.
For the quarter, gross margin was 55.2%, 140 basis points better than the prior-year quarter. Operating margin was 28.1%, 360 basis points better than the prior-year quarter. Net margin was 12.4%, 290 basis points better than the prior-year quarter. (Margins calculated in GAAP terms.)
Next quarter's average estimate for revenue is $2.77 billion. On the bottom line, the average EPS estimate is $1.62.
Next year's average estimate for revenue is $11.28 billion. The average EPS estimate is $6.59.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Ameriprise Financial is outperform, with an average price target of $72.56.
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