Cohen & Steers (CNS) investor relations material

Executive summary

• Adjusted EPS rose to $0.85, with net income of $44 million and GAAP net income of $49.3 million, up 8% sequentially and 18% year-over-year.

• AUM reached $100.1 billion, up 7.5% year-over-year, driven by $1.3 billion in net inflows and strong market performance.

• Organic growth achieved in 7 of the last 8 quarters, with net inflows in all but one strategy.

• Strategic initiatives advanced, including ETF and SICAV expansion, private real estate scaling, and new leadership roles.

• Celebrated 40 years in real assets leadership, with continued expansion in product offerings and international reach.

Financial highlights

• Revenue increased to $152.7 million, up 5% sequentially and 12% year-over-year.

• Adjusted operating margin was 36.3%, with total operating expenses rising mainly due to higher compensation.

• Cash, equivalents, Treasurys, and liquid seed investments totaled $354.3 million at quarter end.

• Paid a $0.67 quarterly dividend on May 21, 2026.

• Effective income tax rate for Q2 2026 was 25.0%.

Outlook and guidance

• Expense guidance maintained: compensation and benefits at ~40% of revenues, mid-single-digit G&A growth, and a 25%-26% effective tax rate.

• Management expects continued strong demand for real assets, supported by favorable macro trends and ongoing strategic investments.

• IPO activity and liquidity needs are expected to provide more high-quality investment opportunities.

• New ETF launches and expanded international distribution are expected to support future AUM growth.