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WHG — Westwood Holdings News Story

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Westwood Holdings Q1 revenue rises, AUM grows on energy and real assets strategies

Overview

US asset manager's Q1 revenue rose yr/yr but fell from Q4 on lower average AUM

Q1 diluted EPS increased to $0.09 from $0.05 a yr ago, but down from Q4

Assets under management grew to $18.3 bln, driven by energy and real assets strategies

Outlook

Company says client allocations are shifting toward income-oriented and private market solutions

Westwood says it continues to invest in new solutions ahead of expected AUM and revenue growth

Company sees its diversified platform as well-positioned for current market environment

Result Drivers

AUM GROWTH DRIVERS - Co said energy and real assets strategies, as well as ETF and private energy secondaries fund growth, drove higher yr/yr revenue and AUM

SEQUENTIAL REVENUE DECLINE - Co attributed lower Q1 revenue vs. Q4 to lower average AUM and absence of prior quarter's performance fees

HIGHER COMPENSATION EXPENSES - Net income fell from Q4 partly due to increased compensation expenses, per management

Company press release: ID:nGNXbt70Lx

Key Details

MetricBeat/MissActualConsensus Estimate
Q1 Revenue$25 mln
Q1 EPS$0.09
Q1 Net Income$800,000
For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com. (This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)

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