Cohen & Steers, Inc. (CNS) Earnings Call Transcripts

Cohen & Steers, Inc.'s Latest Earnings Call - Q1 FY2026

Cohen & Steers, Inc. reported Q1 2026 earnings of $0.79 per share, a slight decline from $0.81 in the previous quarter. Revenue increased marginally by 0.3% to $144.3 million, driven by higher average AUM. The company maintained its compensation ratio guidance at 40% and expects G&A expenses to rise mid-single digits for the year. Despite geopolitical tensions affecting market dynamics, management remains optimistic about long-term growth opportunities, particularly in real assets and infrastructure. The firm reported net inflows of $497 million, marking positive organic growth in six of the last seven quarters.

Reported metrics

Guidance from management

Management expects the compensation ratio to remain at 40% and G&A expenses to increase in the mid-single digits for 2026. The effective tax rate is expected to remain consistent at 25.5% on an as-adjusted basis.

What management said

Yes. Yes, that's what I was driving that. And then maybe just one more, thinking about the theme of rotation of some money moving to non-U.S. strategies. Global real estate was positive this quarter. Are you seeing any like interest in diversifying? And is that -- could that drive positive flows for global real estate in this year and next?

We have been seeing more of that. Go back 1 year, 1.5 years, there weren't a lot of flows into global strategies except for global infrastructure. So I'm talking primarily about global real estate. That was primarily related to U.S. exceptionalism and related stock market performance. But as the world has turned geopolitics have turned, and we've started to see better performance in international markets broadly. We'...

What analysts pressed on

Analysts expressed concerns about the sustainability of inflows in the advisory channel and the potential cannibalization by ETFs. Questions also focused on the impact of geopolitical tensions on asset allocation and the firm's ability to maintain growth in real estate and infrastructure strategies.

Main topics on the call

• Revenue and Earnings — Revenue for Q1 2026 increased by 0.3% to $144.3 million, while earnings per share decreased slightly to $0.79 from $0.81 sequentially. The revenue increase was attributed to higher average AUM, despite fewer days in the ...
• Asset Under Management Growth — Ending AUM for Q1 2026 was $93.1 billion, up from $90.5 billion at the end of Q4 2025, driven by positive net inflows and market appreciation. Average AUM increased to $94.4 billion from $90.8 billion in the prior quarte...
• Performance and Ratings — 86% of AUM outperformed benchmarks on a 1-year basis, with 3- and 5-year outperformance rates above 97%. 95% of open-end fund AUM is rated 4- or 5-star by Morningstar, up from 90% last quarter.
• Geopolitical Impact — The Middle East conflict affected market dynamics, but management expects the initial 2026 view of broadening economic growth to remain intact. U.S. and global REITs posted positive performance despite geopolitical tensi...

Read the full Cohen & Steers, 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 28 Cohen & Steers, Inc. earnings call transcripts on record, spanning January 23, 2020 to July 17, 2026. Based on this history, Cohen & Steers, Inc. reports quarterly. The most recent call on file is dated July 17, 2026. The full list is below — each row opens the complete, free-to-read transcript.

Ticker

CNS

Exchange

NYSE

Country

US

Sector

Financials

Industry

Capital Markets

Calls on record

28

First call

January 23, 2020

Most recent

July 17, 2026

Reporting cadence

quarterly