Cohen & Steers (NYSE:CNS) reported higher second-quarter 2026 adjusted earnings and assets under management, as executives pointed to improving demand for real estate, infrastructure, preferred securities and broader real assets strategies.
On the company’s earnings call, Chief Financial Officer Amit Muni said Cohen & Steers generated adjusted earnings per share of $0.85, up from $0.79 in the first quarter and $0.73 in the year-earlier quarter
Net income was $44 million, rising 8% sequentially and 18% from the second quarter of last year. Assets under management increased about 8% to more than $100 billion, driven by positive market performance and net inflows. Muni said the firm generated $1.3 billion of net inflows, “one of the strongest flow quarters in our recent history,” while its institutional pipeline stood at $1.6 billion.
Revenue Growth Outpaces Expense Growth Revenue increased 5% from the prior quarter to $152 million, which Muni attributed to higher average assets under management from market appreciation and net inflows. Total operating expenses rose 3% to $97 million, primarily due to higher incentive compensation accruals tied to increased revenue. The firm’s adjusted operating margin improved to 36.3%, reflecting operating leverage as revenue growth exceeded expense growth.