NASDAQ$SAMG

Silvercrest Asset Manageme-A · Q3 2022 earnings

Q3 2022 earnings · · Investor relations

Briefing

Silvercrest's AUM and revenue decreased due to volatile market conditions and net client outflows, while maintaining a healthy Adjusted EBITDA margin.

Silvercrest Asset Management Group reported a decrease in revenue and AUM for Q3 2022 due to volatile market conditions and net client outflows. Despite these challenges, the company maintained a healthy Adjusted EBITDA margin and continued to add relationships and new accounts.

  • Total AUM was $27.4 billion, including $19.4 billion in discretionary AUM and $8.0 billion in non-discretionary AUM.
  • Revenue decreased to $29.0 million.
  • GAAP net income was $5.6 million, with net income attributable to Silvercrest at $3.4 million, or $0.35 per basic and diluted share.
  • Adjusted EBITDA was $8.2 million, representing 28.1% of revenue.

Headline financials

Total Revenue

$29M

Previous: $33.5M-13.2%
EPS (adj)

$0.34

Previous: $0.44-22.7%
Total AUM

$27.4B

Previous: $31B-11.6%
Discretionary AUM

$19.4B

Previous: $22.5B-13.8%
Non-Discretionary AUM

$8B

Previous: $8.5B-5.9%
Adjusted EBITDA

$8.2M

Previous: $10.3M-20.7%
Adjusted EBITDA Margin

28.1%

Previous: 30.9%-9.1%
Capital Expenditures

-$669K

Previous: -$630K-6.2%
Free Cash Flow

$2.76M

Previous: $3.09M-10.6%
Net Income

$3.43M

Previous: $3.72M-7.8%
Operating Income

$7.1M

Previous: $8.18M-13.2%
Gross Profit

$38K

Previous: $14.7M-99.7%
Cash & Equivalents

$67.4M

Previous: $65.9M+2.2%
Total Assets

$205M

Previous: $213M-3.7%
Stock-Based Comp

$285K

Previous: $345K-17.4%

Revenue & EPS history

Silvercrest · Revenue · Quarterly

$29M

Q3 2022-13.2%vs Q3 2021
Beat estimate in 4 of 13 quarters(31%)
ActualEstimate

Revenue by segment

Silvercrest · $31.2M total across 2 segments · Q1 2021

  • Management & Advisory
    $30.2M+10.3%
  • Family Office Services
    $1.03M+5.6%

Forward guidance

Market volatility and uncertainty create long-term opportunities that typically benefit the high-quality of Silvercrest’s capabilities, and we look forward to more stable markets.

Historical earnings impact

How earnings announcements have historically affected this stock's price.

Avg. return before/after earnings

Based on 19 quarterly earnings reports · overlaid with Q3 2022

Historical avgQ3 2022

-0.6%

Avg return

Earnings day

-1.1%

Avg return

5 days after

+0.1%

Avg return

30 days after

45%

24 / 53 earnings

Positive

+10.3%

Q4 2021

Best reaction

-10.1%

Q1 2025

Worst reaction

Earnings price reactions
QuarterReport dateReaction (Day 0)+5 days+30 days
Q1 2026-0.5%-10.1%-16.5%
Q4 2025+2.6%-5.6%-3.8%
Q3 2025-0.5%-2.7%-3.8%
Q1 2025-10.1%-9.0%-7.2%
Q4 2024-1.3%-1.8%-11.4%
Q3 2024-6.6%-3.4%+4.4%
Q2 2024-9.1%-14.2%-8.6%
Q1 2024-1.8%+2.1%+3.6%
Q4 2023-6.0%-6.9%-11.6%
Q3 2023+0.3%-5.4%-9.9%
Q2 2023-4.1%-4.0%-11.6%
Q1 2023-2.1%+8.2%+12.8%
Q4 2022-1.5%-1.2%+2.9%
Q3 2022+0.1%-0.9%+6.4%
Q2 2022+3.8%+1.4%+11.5%
Q1 2022-0.4%-8.9%+1.5%
Q4 2021+10.3%+3.8%+26.8%
Q3 2021+1.2%+1.4%-2.3%
Q2 2021+4.5%+10.6%+6.6%
Q1 2021+1.5%-2.0%+18.8%
Q4 2020+3.5%+5.2%-0.1%
Q3 2020-7.8%+6.5%+19.4%
Q2 2020-1.3%+11.1%+12.8%
Q1 2020-5.1%-6.4%+5.5%
Q4 2019-6.5%-17.3%-24.4%
Q3 2019+3.7%+7.9%+5.5%
Q2 2019-5.1%-1.0%-8.8%
Q1 2019+3.1%+1.7%-8.2%
Q4 2018-5.9%-0.3%-6.7%
Q3 2018+1.2%-2.0%-2.9%
Q2 2018-2.6%-4.0%-9.2%
Q1 2018+0.0%+0.3%+3.9%
Q4 2017-3.8%-0.6%-3.4%
Q3 2017+3.1%+0.9%-4.9%
Q2 2017+0.4%+0.8%-1.6%
Q1 2017-2.3%+2.7%+3.9%
Q4 2016-5.9%-3.3%-5.9%
Q3 2016+3.2%+5.0%+17.6%
Q2 2016+0.4%-1.9%+1.9%
Q1 2016-0.4%
Q4 2015+4.9%
Q3 2015-2.8%
Q2 2015+4.8%
Q1 2015-2.6%
Q4 2014+3.2%
Q3 2014-1.9%
Q2 2014+2.6%
Q1 2013+3.8%
Q1 2014-1.8%
Q4 2013+2.2%
Q4 2012-1.5%
Q3 2013+2.6%
Q2 2013+0.6%
Q3 2012
Q2 2012
Q1 2012

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