8-K
filed February 15, 2023, 6:59 PM ET
ticker WHG
CIK 0001165002
earnings
confidence high
sentiment neutral
materiality 0.75
Westwood Q4 rev $20.5M, net loss $3.1M; closed Salient acquisition
WESTWOOD HOLDINGS GROUP INC
2022-FY EPS reported
-$0.59
revenue$68,681,000
- Q4 revenue $20.5M (+6% YoY); net loss $3.1M vs net income $2.8M a year ago, including $5.3M acquisition expenses.
- Acquisition of Salient Partners' asset management closed Nov 18; expected ~100% economic EPS accretion in first full year.
- AUM rose to $14.8B from $11.5B QoQ, with $2.7B from Salient; AUA increased to $1.3B.
- Declared $0.15/share quarterly dividend, payable April 3, 2023 to holders of record March 1.
- Multiple strategies beat benchmarks; SmallCap Value, AllCap Value, Select Equity ranked top 20th percentile.
Key facts
Extracted from this filing and checked against the source text.
Earnings Releases
SEC 8-K Item 2.02
confidence 0.95
WESTWOOD HOLDINGS GROUP INC reported the quarter ended December 31, 2022 results: revenue $20.5 million, net income net loss of $3.1 million.
- Period
- the quarter ended December 31, 2022
- Revenue
- $20.5 million
- Net income
- net loss of $3.1 million
- Result
- reported results
Exact text from the filing
We reported revenues totaling $20.5 million compared with $15.4 million in the third quarter and $19.4 million a year ago, and a net loss of $3.1 million compared with a net loss of $1.2 million in the third quarter and net income of $2.8 million in last year's fourth quarter.
View on SEC.gov
Earnings Releases
SEC 8-K Item 2.02
confidence 0.95
WESTWOOD HOLDINGS GROUP INC reported the fiscal year ended December 31, 2022 results: net income net loss of $4.6 million, EPS $(0.59) per share.
- Period
- the fiscal year ended December 31, 2022
- Net income
- net loss of $4.6 million
- EPS
- $(0.59) per share
- Result
- reported results
Exact text from the filing
2022 net loss of $4.6 million compared to 2021's net income of $9.8 million on lower revenues, higher expenses primarily related to the acquisition ($7.1 million, $1.8 million of which was incurred in the first three quarters of 2022 and included in earnings), and higher realized gains on private investments in 2021. Diluted EPS was $(0.59) per share compared with $1.23 per share for 2021.
View on SEC.gov
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