Cohen & Steers Inc

Cohen & Steers delivered a clean beat across the board in the third quarter of 2025, with diluted EPS of $0.81 topping the $0.78 consensus estimate by 3.85% and revenue of $141.72 million edging past the $138.84 million forecast by 2.08%, representing 2.2% growth from a year ago. The key driver behind the stronger results was a combination of higher average assets under management and sequential margin expansion, with the GAAP operating margin widening 270 basis points to 34.5% even as total expenses held essentially flat at $92.82 million, aided by a 7.2% sequential decline in general and administrative costs. Assets under management closed the quarter at $90.90 billion, up from $88.90 billion at the end of Q2, supported by $233.00 million in net inflows and $2.40 billion in market appreciation. Net income attributable to common stockholders rose 13.2% sequentially to $41.71 million, and shares rallied roughly 4% following the release as investors responded to the broad-based outperformance.