---
schema_version: "secwatch.filing_event.v1"
accession: "0000950170-23-020553"
form_type: "8-K"
ticker: "HNNA"
cik: "0001145255"
company_name: "HENNESSY ADVISORS INC"
filed_at: "2023-05-10T23:59:59+00:00"
generated_at: "2026-06-15T05:51:59.620912+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0000950170-23-020553
- form_type: 8-K
- ticker: HNNA
- cik: 0001145255
- company_name: HENNESSY ADVISORS INC
- filed_at: 2023-05-10T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 2.02, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1145255/000095017023020553/0000950170-23-020553-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1145255/000095017023020553/hnna-20230510.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000950170-23-020553
- JSON: https://secwatch.observer/filing/0000950170-23-020553.json
- Plain text: https://secwatch.observer/filing/0000950170-23-020553.txt

## Key facts
- Earnings Releases
  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
  source text: 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
  evidence_url: https://www.sec.gov/Archives/edgar/data/1145255/000095017023020553/0000950170-23-020553-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.