The 10-second takeaway
For the quarter ended Dec. 31 (Q4), Ameriprise Financial met expectations on revenues and missed expectations on earnings per share.
Compared to the prior-year quarter, revenue shrank and GAAP earnings per share improved slightly.
Gross margins grew, operating margins grew, net margins dropped.
Ameriprise Financial booked revenue of $2.59 billion. The seven analysts polled by S&P Capital IQ wanted to see a top line of $2.60 billion. Sales were 3.7% lower than the prior-year quarter's $2.69 billion.
Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions.
Non-GAAP EPS came in at $1.33. The 13 earnings estimates compiled by S&P Capital IQ anticipated $1.37 per share on the same basis. GAAP EPS of $1.11 for Q4 were 2.8% higher than the prior-year quarter's $1.08 per share.
Source: S&P Capital IQ. Quarterly periods. Figures may be non-GAAP to maintain comparability with estimates.
For the quarter, gross margin was 78.5%, 2,390 basis points better than the prior-year quarter. Operating margin was 26.2%, 140 basis points better than the prior-year quarter. Net margin was 9.8%, 60 basis points worse than the prior-year quarter.
Next quarter's average estimate for revenue is $2.63 billion. On the bottom line, the average EPS estimate is $1.41.
Next year's average estimate for revenue is $10.96 billion. The average EPS estimate is $5.95.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Ameriprise Financial is outperform, with an average price target of $61.20.
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