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Westwood Holdings Q3 revenue rises on ETF and private capital growth

By Reuters News


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.)

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