Ameriprise Financial (AMP) Q2 2026 earnings summary

Executive summary

• Adjusted operating EPS rose 22% to $11.07, with GAAP net income up 5% to $1,113 million and assets under management, administration, and advisement reaching $1.81 trillion, up 14% year-over-year.

• Revenues increased 13% to $4.9 billion, and adjusted operating earnings rose 14% to $1.028 billion.

• Return on equity excluding AOCI reached 55%, and advisor productivity hit a record $1.2 million, up 12% year-over-year.

• $932 million, or 91% of operating earnings, was returned to shareholders in Q2 2026, with 3.3 million shares repurchased in the first half.

• Recognized by Fortune and TIME for innovation and workplace excellence, with continued investment in technology and AI to drive growth and efficiency.

Financial highlights

• Adjusted operating net revenues increased 13% to $4.9 billion; GAAP net income for Q2 2026 was $1,113 million, up 5% year-over-year.

• Adjusted operating earnings were $1.028 billion, up 14% year-over-year; diluted EPS (GAAP) increased 12% to $11.98.

• Pretax adjusted operating margin was 27%, and return on equity excluding AOCI reached 55%.

• Weighted average diluted shares outstanding decreased to 92.9 million from 98.8 million.

• Assets under management and advisement increased 10% to $759 billion.

Outlook and guidance

• Management targets adjusted operating EPS growth of 12–15% and adjusted operating ROE over 30% on average over time.

• General and administrative expenses expected to increase in the mid-single-digit range for the full year; Asset Management G&A expected to be flat, excluding Seligman and performance fee compensation.

• Outflows related to Comerica will conclude in Q3, with Huntington Bank onboarding in Q4, bringing $28 billion in assets.

• Continued investment in technology, AI, and advisor support to sustain growth and efficiency.

• Operating effective tax rate expected to be 20–22% for full year 2026.