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WHG — Westwood Holdings News Story

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Westwood Holdings Q2 revenue rises on ETF and private capital growth

Westwood Holdings Q2 revenue rises on ETF and private capital growth


Overview

  • Boutique asset manager's Q2 revenue rose yr/yr, driven by ETF and private capital growth

  • Q2 net income and diluted EPS increased from prior year

  • Firmwide assets under management and advisement reached $17.9 bln at quarter end


Outlook

  • Company did not provide specific financial guidance for the current or future periods


Result Drivers

  • ETF AND PRIVATE CAPITAL GROWTH - Co said revenue growth was driven by continued expansion of ETF and private energy secondaries funds

  • INVESTMENT STRATEGY OUTPERFORMANCE - Co said several strategies beat primary benchmarks and posted strong peer rankings

  • LOWER COMPENSATION EXPENSES - Co said higher net income vs. prior quarter was due to lower compensation expenses, partly offset by higher income taxes


Company press release: ID:nGNX5SSBJd


Key Details

Metric

Beat/Miss

Actual

Consensus Estimate

Q2 Revenue

$25.30 mln

Q2 EPS

$0.17

Q2 Net Income

$1.50 mln


Reuters Recommended Reads

  • Aug 5 - Victory Capital Q2 revenue rises 24%, beats estimates on higher AUM

  • Aug 5 - Brookfield Asset Management Q2 fee-related earnings rise 20%

  • Aug 5 - Carlyle tops profit expectations on pick-up in fees, deals


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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