Silvercrest Q3 GAAP EPS $0.24 vs $0.34 YoY; net income down 31% on higher expenses

Silvercrest Asset Management Group Inc.

2024-Q2 EPS reported $0.83 revenue$91,689,000

Revenue $30.4M (+2.4% YoY); GAAP net income $3.7M (-31% YoY); diluted EPS $0.24 vs $0.34.
Adjusted EBITDA $6.3M (20.9% margin) vs $8.0M (26.9% margin) YoY; adjusted diluted EPS $0.26 vs $0.36.
Discretionary AUM $22.6B (+$1B QoQ, +10.2% YoY) on market gains; net client outflows of $0.3B in Q3.
New business pipeline $1.2B, up 20% from prior quarter; company expects near-term organic net inflows.
Declared $0.20 quarterly dividend payable Dec 20, 2024 (record Dec 13), unchanged from prior quarter.

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