Ameriprise Financial (AMP) Q2 2026 earnings summary

Executive summary

• Delivered strong Q2 2026 results with adjusted operating EPS up 22% year-over-year and assets under management, administration, and advisement rising 14% to $1.8 trillion, driven by diversified business lines and continued investment in technology and advisor support.

• Revenues grew 13% to nearly $5 billion, with advisor productivity reaching a record $1.2 million, up 12% year-over-year.

• Returned 91% of operating earnings to shareholders in Q2, totaling $932 million, and repurchased 1.7 million shares at $459 average price.

• Maintained a robust balance sheet with $2.1 billion in excess capital and $2.8 billion in holding company liquidity.

• Recognized by Fortune and TIME for innovation and workplace excellence.

Financial highlights

• Adjusted operating earnings rose 14% to $1.028 billion; adjusted operating EPS increased 22% to $11.07.

• Revenues increased 13% to $4.9 billion; GAAP net income for Q2 2026 was $1.113 billion, up 5% year-over-year.

• Return on equity excluding AOCI reached 55%, up from 51.5% a year ago.

• Pre-tax adjusted operating margin was 27%; firm-wide margin at 29%.

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

Outlook and guidance

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

• Outflows related to Comerica will conclude in Q3 2026; Huntington Bank onboarding in Q4 will add $28 billion in client assets and 260 advisors.

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

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

• Sustained profitable growth is expected, supported by strong fundamentals and diversified cash flow streams.