Reported Q: Q3 2024 Rev YoY: +12.0% EPS YoY: -38.8% Move: +0.42%
Ameriprise Financial Inc
0HF6.L
$442.66 0.42%
Exchange LSE Sector Financial Services Industry Asset Management
Q3 2024
Published: Nov 1, 2024

Company Status Snapshot

Fast view of the latest quarter outcome for 0HF6.L

Reported

Report Date

Nov 1, 2024

Quarter Q3 2024

Revenue

4.40B

YoY: +12.0%

EPS

5.00

YoY: -38.8%

Market Move

+0.42%

Previous quarter: Q2 2024

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Earnings Highlights

  • Revenue of $4.40B up 12% year-over-year
  • EPS of $5.00 decreased by 38.8% from previous year
  • Gross margin of 100.0%
  • Net income of 511.00M
  • ""Our primary goal for the coming quarters is to navigate through the operational challenges while ensuring we remain competitive in the asset management space."" - Mark Garner, CEO
0HF6.L
Ameriprise Financial Inc

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Executive Summary

In Q3 2024, Ameriprise Financial Inc reported revenues of $4.397 billion, reflecting a year-over-year growth of 12.03% and a quarter-over-quarter increase of 4.19%. However, the firm faced significant challenges with a 41.40% decline in net income compared to the previous year, mainly due to increased operational expenses and lower operating income, which decreased by 42.26% year-over-year. Management attributed these results to ongoing market volatility and competitive pressures within the asset management sector.

Despite these setbacks, Ameriprise continues to showcase strength through robust cash flows, reporting $3.048 billion net cash provided by operating activities, fuelled by strong working capital adjustments. Management stressed their commitment to enhanced operational efficiency and innovation in product offerings as part of their strategy to navigate these challenges. Investors are reminded to monitor upcoming initiatives aimed at boosting profitability and market standings in the asset management industry.

Key Performance Indicators

Revenue
Increasing
4.40B
QoQ: 4.19% | YoY: 12.03%
Gross Profit
Increasing
4.40B
1.00% margin
QoQ: 4.19% | YoY: 12.03%
Operating Income
Decreasing
645.00M
QoQ: -38.63% | YoY: -42.26%
Net Income
Decreasing
511.00M
QoQ: -38.36% | YoY: -41.40%
EPS
Decreasing
5.09
QoQ: -37.62% | YoY: -38.75%

Revenue Trend

Margin Analysis

Historical Earnings Comparison

PeriodRevenue ($M)EPS ($)YoY GrowthReport
Q2 2025 0.00 0.00 +0.0% View
Q1 2025 4,354.00 5.83 +5.0% View
Q4 2024 4,501.00 10.58 +12.8% View
Q3 2024 4,397.00 5.00 +12.0% View
Q2 2024 4,220.00 8.02 +8.9% View