Westwood Holdings Q3 revenue rises on ETF and private capital growth
Overview
US asset manager's Q3 revenue rose yr/yr, driven by ETFs and private capital growth
Q3 net income fell yr/yr, impacted by one-time severance and higher expenses
Company launched first new ETF on Texas Stock Exchange; ETF assets surpassed $430 mln
Outlook
Company did not provide specific financial guidance for the current or future periods in press release
Result Drivers
ETF AND PRIVATE CAPITAL GROWTH - Co said higher revenues were driven by growth in ETFs, private energy secondaries funds and private capital distributions
STRATEGY PERFORMANCE - Select Equity, Multi-Asset Income, and Real Estate Income strategies outperformed benchmarks and peers
Company press release:
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q3 Revenue | $26.60 mln | ||
Q3 EPS | $0.34 |
Reuters Recommended Reads
Nov 5 - Carlyle's third-quarter profit beats estimates on pick-up in asset sales
Nov 3 - Apollo assets reach $1.07 trillion on alternative investment demand
Nov 3 - LendingTree Q3 revenue beats analyst estimates on insurance segment performance
For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.
(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)