Westwood Holdings Group, Inc. (WHG) Reports Q2 EPS of $0.03

Westwood Holdings Group, Inc. (NYSE: WHG) reported Q2 EPS of $0.03, versus $0.56 reported last year. Revenue for the quarter came in at $15.88 million, versus $21.71 million reported last year.

Brian Casey, Westwood’s President and CEO, commented, "As the Covid-19 pandemic casts its long shadow over our social and business lives, I want to thank all of our Westwood employees, mostly working from home, for serving our clients so well. I am very pleased to report that several of our portfolio strategies beat their benchmarks for the quarter and also performed well against their peers. Many challenges confront us in the current environment and accordingly, with the full support of our board, we have crafted a strategic plan to restructure certain business areas to reduce operating expenses while continuing to invest in our long-term growth initiatives. As part of this plan, our Westwood International Advisors office in Toronto will cease operations towards the end of the third quarter. Reviews of other business units and products not deemed commercially viable in the long run are likely to lead to additional actions that will be covered in the third quarter call. We believe this plan will enable us to better manage our business in this environment as well as pursue an array of future profitable growth initiatives."

For earnings history and earnings-related data on Westwood Holdings Group, Inc. (WHG) click here.

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