WESTWOOD HOLDINGS GROUP INC
For the period ended Jun 30, 2024. Filed Jul 31, 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.
Jun 30, 2024 · Filed Jul 31, 2024
WHG$18.55-0.8%Stored close · as of Nov 10, 2026
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Condensed Consolidated Statements of Comprehensive Income (Loss)
(In thousands, except per share data and share amounts)
| Three Months Ended June 30, | Six Months Ended June 30, | |||
|---|---|---|---|---|
| 2024 | 2023 | 2024 | 2023 | |
| REVENUES: | ||||
| Advisory fees: | ||||
| Asset-based | $17,139 | $16,799 | $33,956 | $33,832 |
| Performance-based | — | — | — | 555 |
| Trust fees | 5,227 | 5,024 | 10,340 | 10,055 |
| Other, net | 322 | 122 | 1,124 | 230 |
| Total revenues | 22,688 | 21,945 | 45,420 | 44,672 |
| EXPENSES: | ||||
| Employee compensation and benefits | 13,638 | 13,688 | 28,349 | 27,890 |
| Sales and marketing | 755 | 764 | 1,383 | 1,504 |
| Westwood mutual funds | 855 | 746 | 1,576 | 1,478 |
| Information technology | 2,350 | 2,566 | 4,640 | 4,949 |
| Professional services | 1,450 | 1,355 | 2,939 | 2,884 |
| General and administrative | 3,011 | 3,235 | 5,912 | 6,281 |
| (Gain) loss from change in fair value of contingent consideration | 4,807 | (4,078) | 1,858 | (5,138) |
| Acquisition expenses | — | — | — | 209 |
| Total expenses | 26,866 | 18,276 | 46,657 | 40,057 |
| Net operating income | (4,178) | 3,669 | (1,237) | 4,615 |
| Net change in unrealized appreciation (depreciation) on private investments | — | 24 | — | 24 |
| Net investment income (loss) | 548 | 211 | 1,003 | 383 |
| Other income | 224 | 239 | 409 | 611 |
| Income before income taxes | (3,406) | 4,143 | 175 | 5,633 |
| Income tax provision | (1,193) | 1,244 | 222 | 2,020 |
| Net income (loss) | $(2,213) | $2,899 | $(47) | $3,613 |
| Total comprehensive income (loss) | $(2,213) | $2,899 | $(47) | $3,613 |
| Less: Comprehensive income (loss) attributable to noncontrolling interest | 30 | 4 | (100) | 25 |
| Comprehensive income (loss) attributable to Westwood Holdings Group, Inc. | $(2,243) | $2,895 | $53 | $3,588 |
| Earnings per share: | ||||
| Basic | $(0.27) | $0.36 | $0.01 | $0.45 |
| Diluted | $(0.27) | $0.36 | $0.01 | $0.45 |
| Weighted average shares outstanding: | ||||
| Basic | 8,218,596 | 7,991,228 | 8,158,812 | 7,922,954 |
| Diluted | 8,218,596 | 8,131,333 | 8,438,431 | 8,050,298 |
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