WESTWOOD HOLDINGS GROUP INC
For the period ended Dec 31, 2023. Filed Mar 7, 2024.
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FY2023 · Filed Mar 7, 2024
WHG$18.55-0.8%Stored close · as of Nov 10, 2026
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Consolidated Statements of Comprehensive Income (Loss)
(in thousands, except shares and per share data)
| Years ended December 31, | |||
|---|---|---|---|
| 2023 | 2022 | 2021 | |
| Revenues: | |||
| Advisory fees: | |||
| Asset-based | $67,391 | $46,685 | $45,927 |
| Performance-based | 1,265 | 1,018 | 3,335 |
| Trust fees | 20,242 | 21,686 | 24,030 |
| Trust performance-based | 349 | — | 101 |
| Other, net | 534 | (708) | (339) |
| Total revenues | 89,781 | 68,681 | 73,054 |
| Expenses: | |||
| Employee compensation and benefits | 52,918 | 40,124 | 42,532 |
| Sales and marketing | 2,990 | 2,003 | 1,280 |
| Westwood mutual funds | 3,133 | 2,201 | 2,657 |
| Information technology | 9,650 | 7,719 | 8,161 |
| Professional services | 5,132 | 5,357 | 4,391 |
| General and administrative | 12,512 | 9,057 | 8,074 |
| (Gain) loss from change in fair value of contingent consideration | (2,768) | — | — |
| Acquisition expense | 209 | 7,093 | — |
| Total expenses | 83,776 | 73,554 | 67,095 |
| Net operating income (loss) | 6,005 | (4,873) | 5,959 |
| Realized gains on private investments | — | — | 8,371 |
| Net change in unrealized appreciation (depreciation) on private investments | 6 | (1,495) | (1,797) |
| Investment income | 1,191 | 266 | 868 |
| Other income | 6,241 | 907 | 602 |
| Income (loss) before income taxes | 13,443 | (5,195) | 14,003 |
| Provision for income taxes | 2,872 | (567) | 4,240 |
| Net income (loss) | $10,571 | $(4,628) | $9,763 |
| Total comprehensive income (loss) | $10,571 | $(4,628) | $9,763 |
| Less: comprehensive income (loss) attributable to noncontrolling interest | 1,051 | — | — |
| Comprehensive income (loss) attributable to Westwood Holdings Group, Inc. | $9,520 | $(4,628) | $9,763 |
| Earnings (loss) per share: | |||
| Basic | $1.20 | $(0.59) | $1.24 |
| Diluted | $1.17 | $(0.59) | $1.23 |
| Weighted average shares outstanding: | |||
| Basic | 7,964,423 | 7,844,363 | 7,875,395 |
| Diluted | 8,112,139 | 7,844,363 | 7,927,972 |
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