Hennessy Advisors Q2 revenue down 24%, EPS down 29%; declares dividend; signs $70M AUM acquisition

HENNESSY ADVISORS INC

2023-Q2 EPS reported $0.30 revenue$12,061,000

Total revenue $5.9M (-24% YoY); net income $1.2M (-26%); diluted EPS $0.15 (-29%).
Average AUM $3.0B (-22%); total AUM $2.8B (-25%).
Quarterly dividend $0.1375/share, payable June 5, 2023, annualized yield 7.7%.
Definitive agreement to acquire ~$70M AUM (CCM Equity Funds), pending shareholder approval.
Cash net of debt $17.6M, up 13% YoY.

item 2.02 item 7.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 1.0

HENNESSY ADVISORS INC reported second fiscal quarter of 2023, which ended March 31, 2023 results: revenue $5.9 million, net income $1.2 million, EPS $0.15.

Period: second fiscal quarter of 2023, which ended March 31, 2023
Revenue: $5.9 million
Net income: $1.2 million
EPS: $0.15
Result: reported results

Exact text from the filing

to grow, increasing over 13% in the last twelve months," she added. Financial Highlights (compared to the prior comparable quarter ended March 31, 2022): Total revenue of $5.9 million, a decrease of 24%. Net income of $1.2 million, a decrease of 26%. Fully diluted earnings per share of $0.15, a decrease of 29%. Average assets under management, upon which

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Source: SEC EDGAR

accession 0000950170-23-020553

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