Q1 26 EPS
$0.79
MISS 3.66%
Est. $0.82
Q1 26 Revenue
$145.6M
BEAT +1.71%
Est. $143.2M
vs S&P Since Q1 26
+16.4%
BEATING MARKET
CNS +19.7% vs S&P +3.3%
Market Reaction
Did CNS Beat Earnings? Q1 2026 Results
Cohen & Steers delivered a mixed first quarter for 2026, posting revenue that nudged past expectations while adjusted earnings fell short of the Street's target. Revenue rose 4.2% year-over-year to $145.64 million, edging above the $143.19 million co… Read more Cohen & Steers delivered a mixed first quarter for 2026, posting revenue that nudged past expectations while adjusted earnings fell short of the Street's target. Revenue rose 4.2% year-over-year to $145.64 million, edging above the $143.19 million consensus, but adjusted diluted EPS of $0.79 came in below the $0.82 estimate, a shortfall of 3.66%. The clearest explanation for the earnings gap was a higher effective tax rate of 27.4%, up from 24.9% in the prior quarter, driven by nondeductible executive compensation and excess tax deficiencies tied to restricted stock unit vesting. Underneath that headwind, the operating picture was broadly constructive; total expenses fell 7.7% sequentially as Q4 2025 had been inflated by costs linked to the UTF rights offering, lifting GAAP operating income and pushing the operating margin to 34.4%. Assets under management grew to $93.13 billion, supported by $2.71 billion in market appreciation and $497 million in net inflows, while global listed infrastructure emerged as the standout strategy, with AUM climbing 9.9% sequentially to $12.59 billion.
Key Takeaways
- • Higher average assets under management driving increased advisory and administration fees
- • Market appreciation of $2.7 billion supporting AUM growth
- • Net inflows of $497 million across all vehicle types
- • Global listed infrastructure AUM grew 29.6% year-over-year
- • Reduced expenses from absence of Q4 2025 UTF rights offering costs ($9.9 million)
- • Distribution and service fees increased 7.8% sequentially on higher open-end fund AUM
CNS YoY Financials
Q1 2026 vs Q1 2025, source: SEC Filings
CNS Revenue by Segment
With YoY comparisons, source: SEC Filings
CNS Earnings Trends
CNS vs Market 30 Day Price Reactions
30-day stock return vs benchmark after each earnings
CNS EPS Trend
Earnings per share: estimate vs actual
CNS Revenue Trend
Quarterly revenue: estimate vs actual
CNS Quarterly Results
6 quarters of earnings data
| Quarter | EPS Est. | EPS Act. | Surprise | Revenue | Rev. Surprise |
|---|---|---|---|---|---|
| Q1 26 MISS | $0.82 | $0.79 | -3.66% | $145.6M | +1.71% |
| Q4 25 BEAT FY | $0.81 | $0.81 | +0.00% | $143.8M | +0.44% |
| FY Full Year | — | $3.09 | — | $556.1M | — |
| Q3 25 BEAT | $0.78 | $0.81 | +3.85% | $141.7M | +2.08% |
| Q2 25 MISS | $0.76 | $0.73 | -3.31% | $136.1M | +0.47% |
| Q1 25 BEAT | $0.72 | $0.75 | +4.17% | $134.5M | -5.26% |
| Q4 24 BEAT FY | $0.74 | $0.78 | +4.99% | $139.8M | +1.13% |
| FY Full Year | — | $2.93 | — | $517.4M | — |