NASDAQ$SAMG

Silvercrest Asset Manageme-A · Q4 2022 earnings

Q4 2022 earnings · · Investor relations

Briefing

Silvercrest reported a decrease in revenue and adjusted EBITDA for Q4 2022, impacted by volatile market conditions.

Silvercrest's Q4 2022 results reflect a decrease in revenue and profitability compared to the previous year, primarily due to market depreciation and client outflows. Despite these challenges, the company experienced an increase in discretionary AUM and new relationships during the quarter.

  • Total AUM reached $28.9 billion, including $20.9 billion in discretionary AUM.
  • Revenue decreased by 15.7% to $28.5 million compared to Q4 2021.
  • Adjusted EBITDA declined to $4.4 million, with an Adjusted EBITDA Margin of 15.6%.
  • The firm gained $220.0 million in new relationships during the fourth quarter.

Headline financials

Total Revenue

$28.5M

Previous: $33.8M-15.7%
EPS (adj)

$0.15

Previous: $0.58-74.1%
Total AUM

$28.9B

Previous: $32.3B-10.5%
Discretionary AUM

$20.9B

Previous: $25.1B-16.7%
Non-Discretionary AUM

$8B

Previous: $7.2B+11.1%
Adjusted EBITDA

$4.44M

Previous: $13M-65.9%
Adjusted EBITDA Margin

15.6%

Previous: 38.5%-59.5%
Capital Expenditures

$287K

Previous: $278K+3.2%
Free Cash Flow

$15.4M

Previous: $22.4M-31.1%
Net Income

$3.28M

Previous: $8.6M-61.8%
Operating Income

$4.12M

Previous: $9.31M-55.7%
Gross Profit

$9.78M

Previous: $16.1M-39.3%
Cash & Equivalents

$77.4M

Previous: $85.7M-9.7%
Total Assets

$213M

Previous: $229M-7.3%
Stock-Based Comp

$360K

Previous: $319K+12.9%

Revenue & EPS history

Silvercrest · Revenue · Quarterly

$28.5M

Q4 2022-15.7%vs Q4 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

The company did not provide specific forward guidance in this earnings report. The report highlights the volatile market conditions and uncertainty could create long-term opportunities.

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 Q4 2022

Historical avgQ4 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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