Westwood Q2 net loss of $0.4M; announces acquisition of Salient asset management

WESTWOOD HOLDINGS GROUP INC

2022-Q2 EPS reported -$0.04 revenue$32,819,000

Revenue $15.6M, down from $17.2M Q1 and $17.5M YoY; AUM fell to $12.1B from $13.9B at March 31.
GAAP diluted EPS -$0.05; Non-GAAP Economic Earnings $1.6M ($0.20/share) vs $1.9M ($0.24) Q1.
Strategic acquisition of Salient Partners' asset management business, subject to revenue retention and growth targets.
Board declared $0.15 dividend payable Oct 1, 2022 to record holders Sep 2, 2022.
Multiple value strategies beat benchmarks; Alternative Income mutual fund achieved top percentile ranking.

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