Hennessy Advisors, Inc. Reports 46% Increase in Annual Earnings Per Share
Hennessy Advisors (HNNA) reported strong financial results for fiscal year 2024, with total revenue increasing 23% to $29.6 million and net income rising 49% to $7.1 million. The company achieved a 46% increase in fully diluted earnings per share to $0.92. Assets under management grew significantly, with total AUM reaching $4.6 billion, up 53% from the previous year.
The company executed its business strategy successfully by purchasing $72 million in mutual fund assets, welcoming $549 million in net new assets, and benefiting from nearly $1 billion in market appreciation. All 17 Hennessy Funds posted positive returns for the year, with the company maintaining strong cash positions of $23.7 million net of debt, representing a 17% increase.
Hennessy Advisors (HNNA) ha riportato risultati finanziari robusti per l'anno fiscale 2024, con entrate totali in aumento del 23% a $29,6 milioni e un reddito netto cresciuto del 49% a $7,1 milioni. L'azienda ha registrato un incremento del 46% negli utili per azione completamente diluiti, raggiungendo $0,92. Gli attivi sotto gestione sono cresciuti in modo significativo, con un totale AUM che ha raggiunto $4,6 miliardi, in aumento del 53% rispetto all'anno precedente.
L'azienda ha eseguito con successo la propria strategia commerciale acquisendo $72 milioni in attivi di fondi comuni, accogliendo $549 milioni in nuovi attivi netti e beneficiando di quasi $1 miliardo in apprezzamento di mercato. Tutti i 17 fondi Hennessy hanno registrato rendimenti positivi per l'anno, mantenendo posizioni di liquidità solide di $23,7 milioni al netto dei debiti, rappresentando un aumento del 17%.
Hennessy Advisors (HNNA) reportó resultados financieros sólidos para el año fiscal 2024, con ingresos totales aumentando un 23% a $29.6 millones y un ingreso neto aumentando un 49% a $7.1 millones. La compañía logró un aumento del 46% en las ganancias por acción totalmente diluidas a $0.92. Los activos bajo gestión crecieron significativamente, alcanzando un total de AUM de $4.6 mil millones, un 53% más que el año anterior.
La compañía ejecutó con éxito su estrategia comercial al adquirir $72 millones en activos de fondos mutuos, dando la bienvenida a $549 millones en nuevos activos netos y beneficiándose de casi $1 mil millones en apreciación de mercado. Todos los 17 Fondos Hennessy registraron rendimientos positivos para el año, manteniendo posiciones de efectivo sólidas de $23.7 millones netos de deudas, lo que representa un aumento del 17%.
헨네시 어드바이저스 (HNNA)는 2024 회계연도 동안 강력한 재무 결과를 보고했습니다. 총 수익은 23% 증가하여 2960만 달러에 달하며, 순이익은 49% 증가한 710만 달러에 도달했습니다. 이 회사는 완전 희석 주당 순이익이 46% 증가하여 0.92달러를 기록했습니다. 관리 자산은 크게 성장하여 총 AUM이 46억 달러에 도달하며, 이는 전년 대비 53% 증가한 수치입니다.
회사는 7200만 달러의 뮤추얼 펀드 자산을 구매하고, 5억 4900만 달러의 순 신규 자산을 유치하며, 거의 10억 달러에 달하는 시장 평가 이익을 누리면서 비즈니스 전략을 성공적으로 실행했습니다. 17개 헨네시 펀드 모두 지난해 긍정적인 수익률을 기록하며, 부채를 차감한 현금 보유액 2370만 달러로 견고한 재무 상태를 유지하여 17% 증가했습니다.
Hennessy Advisors (HNNA) a rapporté de solides résultats financiers pour l'exercice fiscal 2024, avec un chiffre d'affaires total en hausse de 23% à 29,6 millions de dollars et un bénéfice net en hausse de 49% à 7,1 millions de dollars. L'entreprise a réalisé une augmentation de 46% de ses bénéfices par action entièrement dilués, atteignant 0,92 dollar. Les actifs sous gestion ont considérablement augmenté, avec un total d'AUM atteignant 4,6 milliards de dollars, soit une augmentation de 53% par rapport à l'année précédente.
L'entreprise a mis en œuvre sa stratégie commerciale avec succès en achetant 72 millions de dollars d'actifs de fonds communs, en accueillant 549 millions de dollars de nouveaux actifs nets et en bénéficiant de près d'un milliard de dollars d'appréciation du marché. Tous les 17 fonds Hennessy ont affiché des rendements positifs pour l'année, l'entreprise maintenant des positions de liquidité solides de 23,7 millions de dollars net de dettes, représentant une augmentation de 17%.
Hennessy Advisors (HNNA) hat für das Geschäftsjahr 2024 starke finanzielle Ergebnisse veröffentlicht, mit einem Umsatzwachstum von 23% auf 29,6 Millionen US-Dollar und einem Anstieg des Nettogewinns um 49% auf 7,1 Millionen US-Dollar. Das Unternehmen erzielte einen Anstieg der vollständig verwässerten Gewinne je Aktie um 46% auf 0,92 US-Dollar. Das verwaltete Vermögen ist erheblich gewachsen, mit einem Gesamt-AUM von 4,6 Milliarden US-Dollar, was einem Anstieg von 53% im Vergleich zum Vorjahr entspricht.
Das Unternehmen hat seine Geschäftsstrategie erfolgreich umgesetzt, indem es 72 Millionen US-Dollar in Vermögenswerte von Investmentfonds gekauft, 549 Millionen US-Dollar an neuen Nettovermögen gewonnen und von nahezu 1 Milliarde US-Dollar an Marktaufwertung profitiert hat. Alle 17 Hennessy-Fonds erzielten im Jahr positive Renditen, während das Unternehmen solide Cash-Positionen von netto 23,7 Millionen US-Dollar nach Abzug der Schulden aufrechterhielt, was einem Anstieg von 17% entspricht.
- Revenue increased 23% to $29.6 million
- Net income grew 49% to $7.1 million
- Earnings per share rose 46% to $0.92
- Total assets under management increased 53% to $4.6 billion
- Net cash position improved 17% to $23.7 million
- All 17 funds posted positive returns
- None.
Insights
The reported financial results showcase remarkable growth across key metrics. Total revenue surged
The company's performance aligns with broader market strength, as evidenced by the Dow Jones and S&P 500's robust returns of
"So far in 2024, the
"Over the course of more than four decades in this business, I have witnessed the economic resilience of
"In the one-year period ended September 30, 2024, the Dow Jones Industrial Average returned
"In 2024, we successfully executed on all three fronts of our long-standing business strategy," said Teresa Nilsen, President and COO. "Over the twelve months ended September 30, 2024, we purchased assets related to the management of
"The effective execution of our business model drove a
Summary Highlights for the Fiscal Year (compared to fiscal year 2023):
- Total revenue of
$29.6 million 23% . - Net income of
$7.1 million 49% . - Fully diluted earnings per share of
$0.92 46% . - Average assets under management, upon which revenue is earned, of
$3.7 billion 23% . - Total assets under management at fiscal year end of
$4.6 billion 53% . - Cash and cash equivalents, net of gross debt, of
$23.7 million 17% .
Twelve Months Ended Sept 30, | Change | |||||||
2024 | 2023 | Dollar | Percent | |||||
Total Revenue | $ 29,646,194 | $ 24,019,874 | $ 5,626,320 | 23.4 % | ||||
Net Income | 7,096,701 | 4,770,888 | 2,325,813 | 48.8 % | ||||
Earnings Per Share (Diluted) | 0.92 | 0.63 | 0.29 | 46.0 % | ||||
Weighted Average Number of Shares Outstanding (Diluted) | 7,721,781 | 7,603,676 | 118,105 | 1.6 % | ||||
Average Assets Under Management | 3,686,942,501 | 2,991,689,979 | 695,252,522 | 23.2 % | ||||
As of Sept 30, | ||||||||
2024 | 2023 | |||||||
Total Assets Under Management | $ 4,642,363,105 | $ 3,032,041,791 | $ 1,610,321,314 | 53.1 % | ||||
Cash and Cash Equivalents, Net of Gross Debt Balance | 23,671,594 | 20,225,668 | 3,445,926 | 17.0 % | ||||
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.
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SOURCE Hennessy Advisors, Inc.
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