The following is a summary of the Westwood Holdings Group, Inc. (WHG) Q1 2024 Earnings Call Transcript:

Financial Performance:

• Westwood Holdings Group reported Q1 2024 total revenue of $22.7 million, in line with the previous quarter and year.

• Comprehensive income rose to $2.3 million or $0.27 per share in Q1 2024, a substantial increase from $0.7 million or $0.09 per share in Q1 2023.

• Non-GAAP economic earnings for Q1 2024 were enhanced to $3 million or $0.36 per share, up from $1.7 million or $0.22 per share in Q1 2023.

Business Progress:

• Assets Under Management and Assets Under Advisement reached a six-year high at over $17.1 billion.

• Positive new flows marked the institutional channel's performance, and the newly launched Managed Investment Solutions received positive feedback.

• The company successfully launched its first active ETF and a second one, with trading volumes exceeding expectations.

• Westwood maintained a client retention rate of 97% owing to targeted engagement efforts.

• Looking forward, the firm aims to stabilize existing clients, expand ETF offerings, support Managed Investment Solutions, and attract interest for their new MIS capabilities.

More details: Westwood Holdings IR

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