WHG earnings analysis
What we found in WHG's 10-Q: the parts that mattered, the offsets in the same document, and what the company said about what comes next.
Our reading of the filing · Free to read, no account needed
Westwood Holdings Group reported Q1 2026 results with revenues of $24.97 million, up 7% year-over-year but down sequentially from $27 million in Q4 2025. The diluted EPS increased to $0.09 from $0.05 in the prior year. Segment performance varied, with decreases in Wealth Management and Institutional assets, while revenues from ETFs and private energy secondaries funds contributed positively to year-over-year growth.
The parts that mattered.
Pulled out of the filing itself, with the figures the company reported.
- Q1 2026 Revenue Growth
- Total revenues increased 7% year-over-year to $24.97 million from $23.25 million.
- Substantial EPS Gain
- Diluted EPS rose 80% year-over-year to $0.09 from $0.05.
- Employee Expense Increase
- Employee compensation climbed 18% to $17.17 million due to higher incentive costs.
- Institutional AUM Decline
- Institutional AUM decreased marginally by 0.3% to $8.96 billion from $8.99 billion.
- Higher Realized Gains on Investments
- Realized gains increased to $2.05 million from no gains in Q1 2025.
- Overall Net Income Growth
- Net income grew by 64% to $782,000 compared to $478,000 in Q1 2025.
And the other side of it.
The offsets in the same document — the things a summary that only listed the good news would have left out.
- Higher Compensation Costs Impact
- Employee compensation rose 18% year-over-year, impacting overall expenses.
- Net Outflows from Wealth Management
- Wealth Management segment experienced net client outflows, decreasing AUM by 2%.
- Increased Legal Expenses
- Legal and professional services expenses increased by 33%, affecting profit margins.
What they reported.
What the company itself reported, taken out of the document.
- Earnings per share
- $0.09
- Segment
- Advisory fees: $19.31M
- Segment
- Trust fees: $5.32M
- Segment
- Other income: $0.34M
What they said about what is next.
No explicit numeric guidance provided; outlook deferred.
The filing reads about the same as the one before it.
What came before.
- 10-K · March 4, 2026
- Westwood’s 2025 Form 10-K emphasizes an asset-management growth strategy driven by AUM expansion, product launches and selective M&A while continuing to rely on advisory fees tied to AUM. The firm reported AUM of…
- 10-Q · October 30, 2025
- Westwood reported Q3 2025 revenues of $24.289M, up from $23.719M in Q3 2024, with net operating income turning positive to $2.009M (vs. $(0.494)M) and net income of $3.729M (vs. $0.159M). Diluted EPS improved to $0.41…
- 10-Q · August 8, 2025
- Westwood reported Q2 revenue of $23.12M (up $0.432M, +1.9% vs. Q2 2024) and turned to operating income of $0.868M vs. an operating loss of $(4.178)M a year ago. Diluted EPS was $0.12 (vs. $(0.27) in Q2 2024). Cash…
- 10-K · March 5, 2025
- Westwood positions itself as an active asset manager and wealth manager focused on product expansion (two ETFs launched in 2024) and inorganic growth (Salient acquisition in 2022 and Broadmark ownership increased to…
This is our reading of a public filing, not the filing. Read the original on SEC.gov · Educational only. Nothing here is investment advice.
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