Hennessy Advisors(HNNA) - 2026 Q1 - Quarterly Results

Financial Performance - Total revenue for Q1 2026 was $8.32 million, a decrease of 14.3% compared to $9.71 million in Q1 2025[3] - Net income for Q1 2026 was $1.93 million, down 31.9% from $2.83 million in the same quarter last year[3] - Fully diluted earnings per share for Q1 2026 were $0.24, reflecting a decline of 33.3% from $0.36 in Q1 2025[3] Assets Management - Average assets under management decreased to $4.17 billion, down 13.5% from $4.82 billion year-over-year[3] - Total assets under management as of December 31, 2025, were $4.09 billion, a decline of 14.3% from $4.78 billion in 2024[3] Cash and Dividends - Cash and cash equivalents, net of gross debt, increased by nearly 30% to $31.7 million over the past twelve months[4] - The company declared a quarterly dividend of $0.15 per share, marking a 9% increase and representing an annualized yield of 5.9%[2] - This marks the 15th dividend increase, reflecting the company's commitment to returning capital to shareholders[3] Management Outlook - The management remains optimistic about a soft landing in 2026, supported by projected GDP growth and improving earnings[3] - The company emphasizes a long-term perspective and disciplined execution in its investment strategy[3]