Cohen & Steers, Inc. (NYSE:CNS) reported second-quarter results on Friday that came in ahead of Wall Street expectations, supported by strong client inflows and continued growth in assets under management.
The company’s shares rose 0.10% in pre-market trading following the earnings release.
Adjusted earnings were $0.85 per share, outperforming the analyst consensus forecast of $0.83.
Revenue increased to $152.7 million, above expectations of $146.05 million and up 12% from $136.1 million in the second quarter of 2025.
Strong inflows drive AUM above $100 billion
The investment manager generated net inflows of $1.3 billion during the quarter, representing its strongest quarterly inflow since the fourth quarter of 2021 and extending its streak of organic growth to four consecutive quarters.
Assets under management reached $100.1 billion at the end of the quarter, rising 7.5% from $93.1 billion in the previous quarter.
“With $1.3 billion in net flows, we delivered our fourth consecutive quarter of organic growth, which is our longest streak of consecutive quarters of organic growth since 2022,” said Joseph M. Harvey, Chief Executive Officer.
“We are beginning to see the benefits of improving market conditions for our investment strategies and the investments we’ve made in the business to expand our capabilities.”
Broad-based demand supports performance
The quarter’s inflows were spread across multiple investment products, led by U.S. mutual funds and SICAV strategies focused on real estate and multi-strategy real assets. The company also continued to see strong demand for its actively managed exchange-traded funds.
During the quarter, Cohen & Steers’ active ETF platform surpassed $1 billion in assets under management.
Adjusted operating margin improved to 36.3%, compared with 33.6% in the same quarter last year, reflecting stronger operating performance alongside higher revenue.