Westwood(WHG) Globenewswire·2025-02-12 21:10Core 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]