Last10K.com

Westwood Holdings Group Inc (WHG) SEC Filing 10-Q Quarterly report for the period ending Sunday, September 30, 2018

Westwood Holdings Group Inc

CIK: 1165002 Ticker: WHG


whglogoa14.jpg
Westwood Holdings Group, Inc. Reports Third Quarter 2018 Results
Quarterly Dividend Increased 6%, Representing the 16th Consecutive Year of Increases

Dallas, TX, October 24, 2018 – Westwood Holdings Group, Inc. (NYSE: WHG) today reported third quarter 2018 earnings. Highlights from the quarter include:
Revenues of $29.9 million compared with $33.5 million in last year's third quarter and $32.8 million in the second quarter of this year.
Net income of $5.4 million compared with $4.1 million in last year's third quarter and $8.0 million in the second quarter of this year.
Our Emerging Markets and Emerging Markets SMid strategies delivered top decile peer rankings, and our LargeCap Value and Emerging Markets Plus strategies achieved top quartile peer rankings.
Nearly all of our U.S. Value and Emerging Markets strategies beat their primary benchmarks for the quarter.
At quarter-end, Westwood had $119.1 million in cash and short-term investments, stockholders’ equity of $164.7 million, and no debt.

Revenues of $29.9 million decreased $3.6 million from last year's third quarter on lower average assets under management resulting from net outflows and the sale of the Omaha-based component of our Private Wealth business. Revenues decreased $2.9 million from this year's second quarter on lower average assets under management and the recording of performance-based fees of $1.6 million in the second quarter.

Assets under management at September 30, 2018 totaled $20.8 billion compared to $23.6 billion at September 30, 2017 and $21.6 billion at June 30, 2018.

Third quarter net income of $5.4 million compared with $4.1 million in last year's third quarter. The current quarter benefited from lower compensation expenses after selling the Omaha-based component of our Private Wealth business and reductions in incentive compensation, offset by lower asset-based fees and higher information technology expenses as we continue to invest in our technology infrastructure. The prior year quarter was negatively impacted by a $2.5 million legal settlement charge, net of insurance recovery and taxes. Diluted earnings per share of $0.62 in the current quarter compared to $0.49 in the third quarter of 2017. Non-GAAP Economic Earnings increased from $9.0 million, or $1.07 per share, in last year's third quarter, to $9.5 million, or $1.11 per share, in the third quarter of 2018.

Third quarter net income of $5.4 million compared with $8.0 million in the second quarter, which benefited from higher asset-based fees, performance-based fees and foreign currency transaction gains. Diluted earnings per share for the third quarter of $0.62 compared to $0.94 for the second quarter. Non-GAAP Economic Earnings for the third quarter of $9.5 million, or $1.11 per share, compared to $12.2 million, or $1.43 per share, in the second quarter.




The following information was filed by Westwood Holdings Group Inc (WHG) on Wednesday, October 24, 2018 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

View differences made from one quarter to another to evaluate Westwood Holdings Group Inc's financial trajectory

Compare SEC Filings Year-over-Year (YoY) and Quarter-over-Quarter (QoQ)
Sample 10-K Year-over-Year (YoY) Comparison

Compare this 10-Q Quarterly Report to its predecessor by reading our highlights to see what text and tables were  removed  ,   added    and   changed   by Westwood Holdings Group Inc.

Continue

Assess how Westwood Holdings Group Inc's management team is paid from their Annual Proxy

Definitive Proxy Statement (Form DEF 14A)
Screenshot example of actual Proxy Statement

Westwood Holdings Group Inc's Definitive Proxy Statement (Form DEF 14A) filed after their 2018 10-K Annual Report includes:

  • Voting Procedures
  • Board Members
  • Executive Team
  • Salaries, Bonuses, Perks
  • Peers / Competitors

Continue

SEC Filing Tools

Financial Statements, Disclosures and Schedules

Inside this 10-Q Quarterly Report

Document And Entity Information
Condensed Consolidated Balance Sheets
Condensed Consolidated Balance Sheets (Parenthetical)
Condensed Consolidated Statement Of Stockholders' Equity
Condensed Consolidated Statements Of Cash Flows
Condensed Consolidated Statements Of Comprehensive Income
Acquisitions, Goodwill And Other Intangible Assets
Acquisitions, Goodwill And Other Intangible Assets (Details Textual)
Acquisitions, Goodwill And Other Intangible Assets Table (Tables)
Balance Sheet Components
Balance Sheet Components (Details 1)
Balance Sheet Components (Tables)
Commitments And Contingencies
Commitments And Contingencies (Details Textual)
Description Of The Business
Description Of The Business Omaha Operations Divestiture (Details)
Description Of The Business Table (Tables)
Earnings Per Share
Earnings Per Share (Details Textual)
Earnings Per Share (Details)
Earnings Per Share (Tables)
Earnings Per Share Policies (Policies)
Fair Value Measurements
Fair Value Measurements (Details)
Fair Value Measurements (Tables)
Income Taxes (Details)
Income Taxes (Notes)
Income Taxes Tax Audit (Details)
Investments
Investments (Details Textual)
Investments (Details)
Investments (Tables)
Long-Term Incentive Compensation
Long-Term Incentive Compensation (Details 1)
Long-Term Incentive Compensation (Details 2)
Long-Term Incentive Compensation (Details Textual)
Long-Term Incentive Compensation (Details)
Long-Term Incentive Compensation (Tables)
Related Party Transactions
Related Party Transactions (Details Textual)
Revenue (Notes)
Revenue Disaggregation Of Revenue (Details)
Revenue Policies (Policies)
Revenue Table (Tables)
Segment Reporting
Segment Reporting (Details Textual)
Segment Reporting (Details)
Segment Reporting (Tables)
Subsequent Events
Subsequent Events (Details Textual)
Summary Of Significant Accounting Policies
Summary Of Significant Accounting Policies (Policies)
Summary Of Significant Accounting Policies Accounting Changes And Error Corrections (Details)
Variable Interest Entities
Variable Interest Entities (Details Textual)
Variable Interest Entities (Details)
Variable Interest Entities (Tables)
Variable Interest Entities Policies (Policies)
Ticker: WHG
CIK: 1165002
Form Type: 10-Q Quarterly Report
Accession Number: 0001165002-18-000064
Submitted to the SEC: Wed Oct 24 2018 5:06:15 PM EST
Accepted by the SEC: Wed Oct 24 2018
Period: Sunday, September 30, 2018
Industry: Investment Advice

External Resources:
Stock Quote
Social Media

Bookmark the Permalink:
https://last10k.com/sec-filings/whg/0001165002-18-000064.htm