Westwood Holdings Q2 revenue rises on ETF and private capital growth - WHG News | RalliesWestwood Holdings Q2 revenue rises on ETF and private capital growth
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WHG• Outlook
- Company did not provide specific financial guidance for the current or future periods
Overview
- Boutique asset manager's Q2 revenue rose yr/yr, driven by ETF and private capital growth
- Q2 net income and diluted EPS increased from prior year
- Firmwide assets under management and advisement reached $17.9 bln at quarter end
Key Details
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| Metric | Beat/Miss | Actual | Consensus Estimate |
| Q2 Revenue | | $25.30 mln | |
| Q2 EPS | | $0.17 | |
| Q2 Net Income | | $1.50 mln | |
Result Drivers
- ETF AND PRIVATE CAPITAL GROWTH - Co said revenue growth was driven by continued expansion of ETF and private energy secondaries funds
- INVESTMENT STRATEGY OUTPERFORMANCE - Co said several strategies beat primary benchmarks and posted strong peer rankings
- LOWER COMPENSATION EXPENSES - Co said higher net income vs. prior quarter was due to lower compensation expenses, partly offset by higher income taxes
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