Hennessy Advisors, Inc. Reports 125% Increase in Quarterly Earnings Per Share and Announces Quarterly Dividend
Rhea-AI Summary
Hennessy Advisors (HNNA) reported strong financial results for Q1 FY2025 ended December 31, 2024. The company achieved total revenue of $9.7 million, up 58%, and net income of $2.8 million, a 136% increase year-over-year. Earnings per share rose 125% to $0.36. The firm's assets under management grew to $4.8 billion, representing a 46% increase.
The company declared a quarterly dividend of $0.1375 per share, representing an annualized yield of 4.6%. All 17 Hennessy Funds posted positive returns for 2024, with all funds showing positive returns over three years, and all 16 funds with 10+ years history achieving positive returns for both five and ten-year periods.
The company's cash position net of debt strengthened by 28% to $24.7 million. Management expressed optimism about market conditions, citing strong consumer spending, robust corporate profits, and mild inflation as factors supporting continued positive momentum.
Positive
- Net income increased 136% to $2.8 million
- Revenue grew 58% to $9.7 million
- EPS rose 125% to $0.36
- Assets under management increased 46% to $4.8 billion
- Cash position net of debt up 28% to $24.7 million
- All 17 funds posted positive returns for the year
Negative
- None.
News Market Reaction – HNNA
On the day this news was published, HNNA gained 1.89%, reflecting a mild positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
"2024 delivered record highs in the stock market, with the Dow Jones Industrial Average returning
"We are extremely proud of the performance of our products through December 31, 2024: all 17 Hennessy Funds posted positive returns for the year. Over the longer term, all our Funds delivered positive returns for the three-year period ended December 31, 2024, and all 16 Hennessy Funds with at least 10 years of operating history achieved positive returns for both the five-year and ten-year periods," he added.
"Our strong product performance, supported by a consistent business model and effective distribution and marketing strategies, has driven a nearly
Summary Highlights (compared to the prior comparable quarter ended December 31, 2023):
- Total revenue of
$9.7 million 58% . - Net income of
$2.8 million 136% . - Fully diluted earnings per share of
$0.36 125% . - Average assets under management, upon which revenue is earned, of
$4.8 billion 59% . - Total assets under management of
$4.8 billion 46% . - Cash and cash equivalents, net of gross debt, of
$24.7 million 28% .
Three Months Ended Dec 31, | Change | |||||||
2024 | 2023 | Amount | Percent | |||||
Total Revenue | $ 9,707,818 | $ 6,143,843 | $ 3,563,975 | 58.0 % | ||||
Net Income | 2,834,223 | 1,200,095 | 1,634,128 | 136.2 % | ||||
Earnings Per Share (Diluted) | 0.36 | 0.16 | 0.20 | 125.0 % | ||||
Weighted Average Number of Shares Outstanding (Diluted) | 7,862,881 | 7,673,688 | 189,193 | 2.5 % | ||||
Average Assets Under Management | 4,824,051,149 | 3,038,241,860 | 1,785,809,289 | 58.8 % | ||||
As of Dec 31, | ||||||||
2024 | 2023 | |||||||
Total Assets Under Management | $ 4,778,981,545 | $ 3,280,372,061 | $ 1,498,609,484 | 45.7 % | ||||
Cash and Cash Equivalents, Net of Gross Debt Balance | 24,728,893 | 19,355,225 | 5,373,668 | 27.8 % | ||||
* | Based on the closing stock price of |
About Hennessy Advisors, Inc.
Hennessy Advisors, Inc. is a publicly traded investment manager offering a broad range of domestic equity, multi-asset, and sector and specialty funds. Hennessy Advisors, Inc. is committed to providing superior service to shareholders and employing a consistent and disciplined approach to investing based on a buy‑and‑hold philosophy that rejects the idea of market timing.
Supplemental Information
Nothing in this press release shall be considered a solicitation to buy or an offer to sell a security to any person in any jurisdiction where such offer, solicitation, purchase, or sale would be unlawful under the securities laws of such jurisdiction.
Forward-Looking Statements
This press release contains "forward-looking statements" for which Hennessy Advisors, Inc. claims the protection of the safe harbor contained in the Private Securities Litigation Reform Act of 1995. Forward‑looking statements relate to expectations and projections about future events based on currently available information. Forward‑looking statements are not a guarantee of future performance or results and are not necessarily accurate indications of the times at which, or means by which, such performance or results may be achieved. Forward‑looking statements are subject to risks, uncertainties, and assumptions, including those described in the sections entitled "Risk Factors" and elsewhere in the reports that Hennessy Advisors, Inc. files with the Securities and Exchange Commission. Unforeseen developments could cause actual performance or results to differ substantially from those expressed in, or suggested by, the forward‑looking statements. Hennessy Advisors, Inc. management does not assume responsibility for the accuracy or completeness of the forward-looking statements and undertakes no responsibility to update any such statement after the date of this press release to conform to actual results or to changes in expectations.
Media Contacts: | Hibre Teklemariam |
Hennessy Advisors, Inc. | SunStar Strategic |
Terry@hennessyadvisors.com; 800-966-4354 | HTeklemariam@sunstarstrategic.com; 703-894-1057 |
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SOURCE Hennessy Advisors, Inc.
FAQ
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