Horizon Kinetics Q1 net income surges on incentive fees

HORIZON KINETICS HOLDING CORP

HKHC

0.00

Overview

US investment advisory firm's Q1 management and advisory fee revenue fell 3.7% yr/yr
Q1 net income attributable to Horizon Kinetics Holding Corp rose sharply yr/yr
Assets under management grew 19% to $11.4 bln, driven by TPL market value increase

Outlook

Company did not provide specific guidance or outlook for future periods

Result Drivers

INCENTIVE FEES - Co earned $18.1 mln in incentive fees from private funds after expiration of trading restrictions on MIAX investments
AUM GROWTH DRIVERS - Increase in TPL market value drove AUM growth, partially offset by declines in bitcoin holdings and net outflows
MUTUAL FUND REVENUE DECLINE - Management and advisory fee revenue fell due to decreases at certain mutual funds, partly offset by ETF growth

Company press release: ID:nACS7Z0M4a

Key Details

Metric	Beat/Miss	Actual	Consensus Estimate
Q1 Revenue		$18.29 mln
Q1 EPS		$3.89
Q1 Net Income attributable to company		$72.5 mln
Q1 Operating Income		-$4.33 mln

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