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
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(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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