WESTWOOD HOLDINGS GROUP INC

For the period ended Mar 31, 2024. Filed May 1, 2024.

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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.

Mar 31, 2024 · Filed May 1, 2024

WHG$18.55-0.8%Stored close · as of Nov 10, 2026

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Contents

Condensed Consolidated Statements of Comprehensive Income

(In thousands, except per share data and share amounts)

	Three Months Ended March 31,
	2024	2023
REVENUES:
Advisory fees:
Asset-based	$16,817	$17,033
Performance-based	—	555
Trust fees	5,113	5,031
Other, net	802	108
Total revenues	22,732	22,727
EXPENSES:
Employee compensation and benefits	14,711	14,202
Sales and marketing	628	740
Westwood mutual funds	721	732
Information technology	2,290	2,383
Professional services	1,489	1,529
General and administrative	2,901	3,046
(Gain) loss from change in fair value of contingent consideration	(2,949)	(1,060)
Acquisition expenses	—	209
Total expenses	19,791	21,781
Net operating income	2,941	946
Net investment income (loss)	455	172
Other income	185	372
Income before income taxes	3,581	1,490
Income tax provision	1,415	776
Net income	$2,166	$714
Total comprehensive income	$2,166	$714
Less: Comprehensive income (loss) attributable to noncontrolling interest	(130)	21
Comprehensive income attributable to Westwood Holdings Group, Inc.	$2,296	$693
Earnings per share:
Basic	$0.28	$0.09
Diluted	$0.27	$0.09
Weighted average shares outstanding:
Basic	8,099,028	7,853,921
Diluted	8,392,496	7,968,504

ContentsView on SEC.gov

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