- Adjusted book value per share ex AOCI and with AB ownership at market value was $40.89, up 11% year-over-year.
- Adjusted non-GAAP operating EPS was $1.41, down 8% compared to the prior year, primarily due to elevated individual life mortality claims.
- AllianceBernstein (AB) reported net outflows of $6.7 billion in Q2 but returned to net inflows in June; private markets AUM grew 20% year-over-year to $77 billion.
- Assets under management and administration reached a record $1.1 trillion, up 5% year-to-date.
- GAAP net loss was $349 million, impacted by notable items including a $74 million after-tax negative item in Protection Solutions.
- Non-GAAP operating earnings were $352 million or $1.10 per share, down 23% year-over-year on a per share basis.
- Wealth Management earnings increased 16% year-over-year with $2 billion of advisory net inflows and a 12% trailing 12-month organic growth rate.
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- Average deposits declined just over 1%, with non-interest bearing deposits stable at 38%.
- Average loans grew almost 1% for the quarter and period-end loans increased approximately 3%.
- Capitalization remained strong with an estimated CET1 ratio of 11.94%, well above the 10% strategic target.
- Net charge-offs were 22 basis points, at the low end of the normal range and flat quarter-over-quarter.
- Net interest income remained stable at $575 million for the third consecutive quarter.
- Non-interest expenses decreased $23 million due to lower litigation expenses and salaries, with some offsetting increases in advertising and outside processing.
- Non-interest income increased $20 million driven by higher loan volumes, capital markets income, and seasonal benefits.
- Reported earnings per share of $1.42, a nearly 14% increase over the prior quarter.
- Returned $193 million to shareholders through dividends and share repurchases, including $100 million in share repurchases in Q2.
- AFFO per share increased 7% year-over-year to $0.46, with total AFFO up 21% to $93 million.
- Cash G&A was $7.2 million, representing 5.2% of total revenue, down from 5.6% a year ago.
- Declared a cash dividend of $0.30 per share, representing a 65% AFFO payout ratio.
- Diluted share count was 199.6 million, including 0.6 million shares from unsettled forward equity.
- General & Administrative expenses rose to $10.7 million from $8.7 million in Q2 2024, mainly due to increased compensation.
- Income-producing gross assets reached $6.6 billion at quarter end.
- In Q2 2025, Essential Properties invested $334 million at a weighted average cash yield of 7.9% and a GAAP yield of 9.7%.
- Pro forma net debt to annualized adjusted EBITDAre was 3.5x at quarter end.
- Retained free cash flow after dividends reached $34.4 million for the quarter, over $130 million annualized.
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