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Jun 30, 2020
Diamond Hill Q2 2020 Earnings Report
Reported financial results for the second quarter of 2020.
Key Takeaways
Diamond Hill Investment Group reported a decrease in revenue due to a shift in asset mix towards lower fee strategies and a decline in average assets under management, while assets under management recovered after the market downturn in March. Net income attributable to common shareholders was lower compared to the same period last year, despite an increase in investment income.
Assets under management were $20.6 billion.
Net inflows were $231 million, compared to net outflows of $417 million in the same period of 2019.
Revenue was $28.2 million, down from $33.5 million in the second quarter of 2019.
Earnings per share attributable to common shareholders - diluted was $3.79.
Forward Guidance
The company expects the pandemic and related responses to continue to negatively affect results of operations, cash flows and financial position, but cannot reasonably estimate the full effect due to the uncertainty over the duration and severity of the pandemic.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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