Hennessy Advisors, Inc. FY23 EPS $0.63 Down From $0.82 YoY; Revenue $24.02M Down From $29.67M YoY
Portfolio Pulse from Benzinga Newsdesk
Hennessy Advisors, Inc. reported a decrease in FY23 EPS to $0.63 from $0.82 YoY, with revenue falling to $24.02M from $29.67M YoY. Net income dropped by 23% to $4.8M, and average assets under management decreased by 18% to $3.0B. However, total assets under management increased by 5% to $3.0B, and cash and cash equivalents, net of gross debt, rose by 11% to $20.2M.
December 06, 2023 | 9:37 pm
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NEGATIVE IMPACT
Hennessy Advisors, Inc. experienced a significant decrease in FY23 earnings and revenue, indicating potential challenges ahead. Despite a rise in total assets and cash, the overall decline may concern investors.
The reported decrease in earnings per share and revenue is a strong indicator of financial underperformance, which typically leads to negative investor sentiment and could result in a short-term decline in stock price. However, the increase in total assets and cash position may provide some cushion against the negative impact.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100