Affiliated Managers Group, Inc. (AMG) Earnings Call Transcripts

Affiliated Managers Group, Inc.'s Latest Earnings Call - Q1 FY2026

In the first quarter of 2026, AMG Critical Materials N.V. reported adjusted EBITDA of $44 million, reflecting a 2% increase from the previous quarter, driven by the consolidation of AURA and improved pricing across key materials. Revenue surged 89% year-over-year in the lithium segment, attributed to the startup of the Bitterfeld plant. Management maintained their full-year adjusted EBITDA guidance of $210 million to $240 million, citing geopolitical uncertainties as a factor for conservative outlook despite positive pricing trends in lithium and vanadium.

Reported metrics

Guidance from management

Management maintained their full-year adjusted EBITDA guidance of $210 million to $240 million, citing geopolitical uncertainties as a factor for their conservative outlook.

What management said

Yes. So we had about 12,000 tons that were on the order that we normally would have expected to arrive in the first quarter, which are now arriving in the second quarter. So obviously, that's a big volume shift from Q1 to Q2. So that will impact the profitability. And we tried to -- one of the reasons we gave the additional guidance on the second quarter earnings relative to the first quarter. In regards to the expan...

Yes. And you can see in the EBITDA bridge that there was a positive impact regarding the impact of lithium prices on those sales. So you can see the number there, but we did not include that with our EBITDA. So it was a positive write-up of inventory due to improvement in lithium prices related to LCMs that we took last year for Bitterfeld due to the drop in prices in prior year.

What analysts pressed on

Analysts expressed concerns regarding cash generation and the impact of shipping delays on working capital. They questioned the sustainability of recent revenue growth and the potential for future disruptions due to geopolitical tensions.

Main topics on the call

• Revenue Growth in Lithium Segment — AMG's lithium revenue increased by 89% year-over-year, driven by the startup of the Bitterfeld plant and higher spodumene volumes. Management noted, "Higher realized prices and volumes are expected to drive meaningful st...
• AURA Acquisition Performance — The AURA acquisition performed ahead of expectations, contributing positively to the quarter's results, particularly in tungsten markets. Management stated, "This early outperformance highlights the quality and resilienc...
• Geopolitical Impact on Operations — Management acknowledged potential impacts from geopolitical tensions, particularly in energy costs and supply chain disruptions. They noted, "While we may see some limited impact from higher energy costs, the broader eff...
• Capital Raise for Expansion Projects — AMG successfully raised $127 million through a capital increase, oversubscribed 4x, to fund expansions in lithium, high-purity molybdenum, and vanadium. This positions the company to implement projects in various geopoli...

Read the full Affiliated Managers Group, Inc. transcript (Q1 FY2026) → Summary generated from the call transcript; every figure above is stated by management on the record.

Earnings Call History

EarningsCalls.dev has 65 Affiliated Managers Group, Inc. earnings call transcripts on record, spanning February 3, 2020 to July 30, 2026. Based on this history, Affiliated Managers Group, Inc. reports quarterly. The most recent call on file is dated July 30, 2026. The full list is below — each row opens the complete, free-to-read transcript.

Ticker

AMG

Exchange

NYSE

Country

US

Sector

Financials

Industry

Capital Markets

Calls on record

65

First call

February 3, 2020

Most recent

July 30, 2026

Reporting cadence

quarterly