Core Points - Westwood Holdings Group, Inc. held its Q4 2024 earnings conference call on February 12, 2025, at 4:30 PM ET [1] - The call featured CEO Brian Casey and CFO Terry Forbes as key speakers [5] - The discussion included forward-looking statements that are subject to various risks and uncertainties [3] Company Information - The company provided additional information regarding factors that could affect actual results, which is included in their press release and Form 10-K for the year ended December 31, 2024 [4] - The company emphasized the importance of not placing undue reliance on forward-looking statements [4] - The reconciliation of economic earnings and economic earnings per share to GAAP measures was mentioned as part of compliance with SEC rules [5]

Westwood Holdings Group (WHG) Q4 2024 Earnings Call February 12, 2025 04:30 PM ET Company Participants Brian Casey - President & Chief Executive OfficerTerry Forbes - Chief Financial Officer Operator I would now like to hand the conference over to your speaker today, Brian Casey, CEO. None Thank you, and welcome to our fourth quarter twenty twenty four earnings conference call. The following discussion will include forward looking statements that are subject to known and unknown risks, uncertainties and oth ...

Financial Performance - Fourth quarter revenues increased to $25.6 million, up from $23.7 million in the third quarter and $23.2 million a year ago[2] - Comprehensive income for the fourth quarter was $2.1 million, compared to $0.1 million in the third quarter and $2.6 million in the fourth quarter of 2023[5] - Non-GAAP Economic Earnings for the fourth quarter were $3.4 million, or $0.39 per share, compared to $1.1 million, or $0.13 per share in the third quarter[5] - Annual comprehensive income was $2.2 million, down from $9.5 million in 2023, with diluted EPS of $0.26 compared to $1.17 in 2023[7] - Economic Earnings for the year were $6.965 million, down from $18.342 million in 2023, with Economic EPS of $0.82 compared to $2.26 in 2023[17] - Net income for the year ended December 31, 2024, was $2,211,000, down 79.1% from $10,571,000 in 2023[19] - Earnings per share (EPS) dropped to $0.26 in 2024 from $1.17 in 2023, reflecting a decline of 77.8%[23] - Economic EPS for the year ended December 31, 2024, was $0.82, down 63.7% from $2.26 in 2023[23] Assets and Liabilities - Firmwide assets under management and advisement totaled $17.6 billion, with $16.6 billion in AUM and $1.0 billion in AUA[4] - Total assets decreased from $155,167,000 in December 2023 to $149,989,000 in December 2024, a decline of approximately 3.8%[18] - Total liabilities decreased from $32,721,000 in December 2023 to $27,657,000 in December 2024, a reduction of approximately 15.5%[18] Cash Flow and Dividends - The company reported a net cash provided by operating activities of $21,122,000 in 2024, compared to a net cash used of $1,185,000 in 2023[19] - The company declared a cash dividend of $0.15 per common share, payable on April 1, 2025[2] - The company paid cash dividends totaling $5,440,000 in 2024, slightly down from $5,502,000 in 2023[19] Stock and Share Repurchase - The Board authorized an additional $5.0 million for share repurchases, bringing the total available to $5.5 million[2] Product Development - The company launched two innovative ETFs under the Westwood Engineered Beta partnership, enhancing its product offerings[1] - The Westwood Salient Enhanced Midstream Income ETF (MDST) reached $73 million in assets by year-end, amid strong trading volumes[2] Compensation and Expenses - Stock-based compensation expense for 2024 was $5,537,000, down 15.1% from $6,518,000 in 2023[23]

Core Insights - Westwood Holdings Group, Inc. reported strong performance in the fourth quarter, with revenues increasing due to higher average assets under management (AUM) and performance fees [1][5] - The company launched two innovative ETFs under the Westwood Engineered Beta partnership, aimed at providing stable investment experiences [1] - The Board authorized an additional $5 million for share repurchases, bringing the total available for repurchases to $5.5 million [5] Financial Performance - Firmwide assets under management and advisement totaled $17.6 billion, with $16.6 billion in AUM and $1.0 billion in assets under advisement [2] - Fourth quarter comprehensive income was $2.1 million, up from $0.1 million in the third quarter, with diluted EPS of $0.24 compared to $0.01 in the previous quarter [3][4] - Non-GAAP Economic Earnings for the fourth quarter were $3.4 million, or $0.39 per share, compared to $1.1 million, or $0.13 per share in the third quarter [3][5] Yearly Overview - For the year 2024, comprehensive income was $2.2 million, down from $9.5 million in 2023, with diluted EPS of $0.26 compared to $1.17 in 2023 [6] - Total revenues for 2024 were $94.7 million, an increase from $89.8 million in 2023 [16] - Economic Earnings for the year were $6.97 million, down from $18.34 million in 2023, with Economic EPS of $0.82 compared to $2.26 in 2023 [6][22] Investment Strategies - Various investment strategies outperformed their primary benchmarks, including LargeCap Value and Multi-Asset Income, with some strategies achieving top quartile rankings [5] - The Westwood Salient Enhanced Midstream Income ETF (MDST) reached $73 million in assets by year-end, reflecting strong trading volumes [5] Cash and Equity Position - As of December 31, 2024, Westwood held $44.6 million in cash and liquid investments, with stockholders' equity totaling $120.3 million and no debt [5][19] - The company declared a cash dividend of $0.15 per common share, payable on April 1, 2025 [5]

DALLAS, Jan. 29, 2025 (GLOBE NEWSWIRE) -- Westwood Holdings Group, Inc. (NYSE:WHG) will release its fourth quarter and fiscal year 2024 earnings after the close of the New York Stock Exchange on Wednesday, February 12, 2025. Following the release, the Company will host a live audio webcast and conference call at 4:30 pm Eastern Time (3:30 pm Central Time). To join the conference call, please register here: https://register.vevent.com/register/BI823ff804a3ee4809b6e9b55dcda1c3a0. After registering, you will b ...

VANCOUVER, British Columbia, Jan. 16, 2025 (GLOBE NEWSWIRE) -- VR Resources Ltd. (TSX.V: VRR, FSE: 5VR; OTCBB: VRRCF), the “Company”, or “VR”, is pleased to provide an update on exploration activities for its Empire project in northwestern Ontario. Upon the recent discovery of a polyphase and PGE-fertile mafic-ultramafic intrusion at the Westwood property, the Empire project and group of properties has been expanded to district-scale, as shown in Figure 1 below, in order to explore additional targets for Cu ...

Core Viewpoint - WEBs Investments Inc. and Westwood Holdings Group have launched the WEBs Defined Volatility ETF series, which aims to provide a stable investment experience by dynamically adjusting exposure to equity markets based on real-time volatility [1][2][3] Group 1: ETF Features and Strategy - The Defined Volatility ETFs track the Syntax Defined Volatility U.S. Large Cap 500 Index and the Syntax Defined Volatility Triple Qs Index, adjusting exposure to match a target risk level [2][13][14] - During low-volatility periods, the ETFs utilize total return swaps to amplify exposure, while in high-volatility periods, they shift towards cash and U.S. Treasuries to cushion against losses [2][3] - This adaptive strategy aims to smooth the investment journey and enhance risk-adjusted return potential for investors [2][3] Group 2: Management and Expertise - The Defined Volatility strategy was developed in 2023 by a team of ETF industry veterans with over a century of combined experience [4] - Ben Fulton, a pioneer in the ETF industry, previously grew Invesco's PowerShares ETF platform from $200 million to $80 billion [5] - The partnership between WEBs and Westwood combines innovative volatility management with established sales and distribution capabilities [6][7] Group 3: Investment Potential - The Defined Volatility ETFs offer uncapped upside potential to the SPDR S&P 500 ETF Trust (SPY) and the Invesco QQQ Trust (QQQ), allowing significant participation in market gains while providing stability during turbulent periods [3] - Unlike many option-based strategies, these ETFs aim to generate dividend income, adding another layer of potential value for investors [3] - The swap-based strategy employed by the ETFs is designed to enhance tax efficiency, avoiding substantial tax consequences typically associated with volatility-managed funds [3]

Core Points - Cumulus Media's Westwood One is launching a new nighttime Country music radio show titled "Country Nights Live with Bev Rainey," which will air live from Nashville starting December 31, 2024 [2][5] - The show will feature a five-hour format, broadcasting seven days a week from 7:00 PM to Midnight, showcasing top Country music stars and emerging talent [2][3] - Bev Rainey, an award-winning Country radio personality, will host the show, bringing her extensive experience and engaging storytelling to create an interactive listener experience [3][4] Company Overview - Cumulus Media is an audio-first media company that reaches over a quarter billion people monthly through 400 radio stations across 84 markets, offering a variety of programming including sports, news, and entertainment [7] - The company operates Westwood One, the largest audio network in America, providing nationally-syndicated content and a growing podcast network [7] - Cumulus Media emphasizes local programming and advertising performance guarantees, making it a unique player in the audio media landscape [7]

Westwood Holdings Group, Inc. Reports Third Quarter 2024 Results Firmwide Assets Under Management of $17.7 Billion (Highest Level in 6 years) Continued Innovation with WEBs Partnership to Expand ETF Platform Dallas, TX, October 30, 2024 – Westwood Holdings Group, Inc. (NYSE: WHG) today reported third quarter 2024 earnings. Significant items included: ▪ Investment strategies beating their primary benchmarks included Platinum, High Alpha, Dividend Select, Income Opportunity, Multi-Asset Income, Alternative In ...

Westwood has entered into a partnership with ETF veteran Ben Fulton to scale Westwood's ETF platform, offering investors and advisors new, highly innovative strategies Our new partnership called WEBs—"Westwood Engineered Beta"—will apply a proprietary strategy seeking to provide a more stable investment experience and better risk-adjusted returns to investors Westwood will form the partnership by investing in WEBs Investments Inc. and will provide distribution resources and administrative support, with an o ...