Westwood Q1 2023 revenue $22.7M, net income $0.7M; declares $0.15 dividend

WESTWOOD HOLDINGS GROUP INC

2023-Q1 EPS reported $0.09 revenue$22,727,000

Revenue $22.7M vs $20.5M in Q4 2022 and $17.2M a year ago; net income $0.7M (vs net loss $3.1M in Q4).
Diluted EPS $0.09; non-GAAP Economic Earnings $3.6M ($0.45 per share) vs Q4 loss $0.7M.
Quarterly cash dividend of $0.15 declared, payable July 3, 2023 to holders of record June 2, 2023.
Integration of Salient Partners on track; increased Broadmark Asset Management stake to ~80%.
AUM/AUA $16.2B at quarter end; $32.3M cash and short-term investments, no debt.

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 0.95

WESTWOOD HOLDINGS GROUP INC reported the quarter ended March 31, 2023 results: revenue $22.7 million, net income $0.7 million.

Period: the quarter ended March 31, 2023
Revenue: $22.7 million
Net income: $0.7 million
Result: reported results

Exact text from the filing

rankings benefited from strong investment performance as High Alpha achieved a top eVestment ranking and MidCap Value posted a top quartile eVestment ranking. ▪ Revenues totaled $22.7 million compared with the fourth quarter's $20.5 million and $17.2 million a year ago. Net income of $0.7 million, which included $0.2 million residual transaction costs for the Salient

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Source: SEC EDGAR

accession 0001165002-23-000045

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