Machine learning predictions based on historical earnings data and price patterns
1-Day Prediction
-0.99%
$9.76
0% positive prob.
5-Day Prediction
-4.45%
$9.42
0% positive prob.
20-Day Prediction
-6.00%
$9.26
0% positive prob.
SEC 8-K filings with transcript text
Aug 5, 2026 · 100% conf.
1D
-0.99%
$9.76
Act: +0.66%
5D
-4.45%
$9.42
Act: +1.33%
20D
-6.00%
$9.26
2 ex_997559.htm
ex_997559.htm
Exhibit 99.1
Media Contacts:
Teresa Nilsen
Hennessy Advisors, Inc.
Terry@hennessyadvisors.com; 800-966-4354
Hibre Teklemariam
SunStar Strategic
HTeklemariam@sunstarstrategic.com; 703-894-1057
Hennessy Advisors, Inc. Reports Quarterly Earnings
and Announces Quarterly Dividend
August 5, 2026, Novato, CA - Hennessy Advisors, Inc. (Nasdaq:HNNA) reported results for its third fiscal quarter ended June 30, 2026, and declared a quarterly dividend of $0.15 per share to be paid on September 3, 2026, to shareholders of record as of August 20, 2026. The dividend represents an annualized yield of 6.1%.*
“The U.S. stock market has delivered solid performance over the first half of 2026. I believe the market is trading on fundamentally positive information – strong corporate earnings as well as employment and wage growth – as opposed to any AI ‘hype.’ It is no longer primarily the Magnificent 7 driving market growth. Instead, we are seeing small and midcap growth and value stocks participating in the market’s advance,” said Neil Hennessy, Chairman and CEO. “I believe the shift in sentiment bodes well for long-term market performance. While interest rates may be higher than we had hoped, and geopolitical strain continues on a global level, I believe the underlying fundamentals continue to support measured growth, and I’m hopeful that we close out 2026 with another year of positive market returns,” he added.
“This quarter, we made the decision to redeem our notes payable of $40.25 million six months ahead of the maturity date of December 31, 2026,” said Teresa Nilsen, President and COO. “That decision reflects our assessment of current interest rates, our available cash position, and our analysis of short-term capital needs.”
“We are pleased to report a 4% increase in revenue driven by higher assets under management year-over-year,” she continued. “While the early redemption of our notes payable reduced earnings in the current quarter due to the accelerated recognition of financing costs, our net cash position increased 18% from the prior year to more than $35 million. We believe our balance sheet remains a competitive advantage, allowing us to pursue strategic acquisition opportunities while continuing to return capital to our shareholders through a dividend.”
Summary Highlights (compared to the prior comparable quarter ended June 30, 2025):
●
Total revenue of $8.4 million, an increase of 4%.
●
Net income of $2.0 million, a decrease of 6%, primarily attributable to the early redemption of debt.
●
Fully diluted earnings per share of $0.25, a decrease of 4%.
●
Average assets under management, upon which revenue is earned, of $4.3 billion, an increase of 4%.
●
Total assets under management of $4.4 billion, an increase of 3%.
●
Cash and cash equivalents, net of gross debt, of $35.4 million, an increase of 18%.
Three Months Ended Jun 30,
Change
2026
2025
Amount
Percent
Total Revenue
$
8,390,476
$
8,054,259
$
336,217
4.2
%
Net Income
1,999,148
2,120,934
(121,786
)
-5.7
%
Earnings Per Share (Diluted)
0.25
0.26
(0.01
)
-3.8
%
Weighted Average Number of Shares Outstanding (Diluted)
8,038,411
7,960,872
77,539
1.0
%
Average Assets Under Management
4,261,027,927
4,098,783,695
162,244,232
4.0
%
As of Jun 30,
2026
2025
Total Assets Under Management
$
4,390,624,761
$
4,280,005,244
$
110,619,517
2.6
%
Cash and Cash Equivalents, Net of Gross Debt Balance
35,350,689
30,069,042
5,281,647
17.6
%
*
Based on the closing stock price of $9.76 on August 4, 2026, and an annualized dividend of $0.60 per share.
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
May 6, 2026
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false 0001145255
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2026-05-06 2026-05-06
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2026-05-06 2026-05-06
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hnna:NotesDue20264875CustomMember
2026-05-06 2026-05-06
Washington, DC 20549
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): May 6, 2026
(Exact name of registrant as specified in its charter)
California
001-36423
68-0176227
(State or other jurisdiction
of incorporation)
(Commission
File Number)
(IRS Employer
Identification No.)
7250 Redwood Blvd., Suite 200
Novato, California
94945
(Address of principal executive offices)
(Zip code)
Registrant’s telephone number including area code: (415) 899-1555
Not Applicable
(Former name or former address, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
☐
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a‑12)
☐
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Securities registered pursuant to Section 12(b) of the Act:
Title of each class
Trading symbol
Name of each exchange on which registered
Common stock, no par value
The Nasdaq Stock Market LLC
4.875% Notes due 2026
The Nasdaq Stock Market LLC
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR §230.405) or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR §240.12b-2).
Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
1
Item 2.02.
Results of Operations and Financial Condition
On May 6, 2026, Hennessy Advisors, Inc. (the “Company”) issued a press release announcing its financial results for the fiscal quarter ended March 31, 2026. A copy of the press release is being furnished as Exhibit 99.1 to this Current Report on Form 8‑K and is incorporated by reference herein.
Item 7.01.
Regulation FD Disclosure
On May 6, 2026, the Company issued a press release announcing that it had declared a cash dividend of $0.15 per share on its common stock. The cash dividend is payable June 4, 2026, to shareholders of record at the close of business on May 21, 2026. A copy of the press release is being furnished as Exhibit 99.1 to this Current Report on Form 8‑K and is incorporated by reference herein.
Item 9.01.
Financial Statements and Exhibits
Exhibit
Description
99.1
Press release.
104
Cover Page Interactive Data File (embedded within the Inline XBRL document).
2
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
May 6, 2026
By:
/s/ Teresa M. Nilsen
Teresa M. Nilsen
President
3
Feb 5, 2026
hnna20260204c_8k.htm
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hnna:CommonStockCustomMember
2026-02-05 2026-02-05
0001145255
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2026-02-05 2026-02-05
Washington, DC 20549
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): February 5, 2026
(Exact name of registrant as specified in its charter)
California
001-36423
68-0176227
(State or other jurisdiction
of incorporation)
(Commission
File Number)
(IRS Employer
Identification No.)
7250 Redwood Blvd., Suite 200
Novato, California
94945
(Address of principal executive offices)
(Zip code)
Registrant’s telephone number including area code: (415) 899-1555
Not Applicable
(Former name or former address, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
☐
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a‑12)
☐
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Securities registered pursuant to Section 12(b) of the Act:
Title of each class
Trading symbol
Name of each exchange on which registered
Common stock, no par value
The Nasdaq Stock Market LLC
4.875% Notes due 2026
The Nasdaq Stock Market LLC
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR §230.405) or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR §240.12b-2).
Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
1
Item 2.02. Results of Operations and Financial Condition
On February 5, 2026, Hennessy Advisors, Inc. (the “Company”) issued a press release announcing its financial results for the fiscal quarter ended December 31, 2025. A copy of the press release is being furnished as Exhibit 99.1 to this Current Report on Form 8‑K and is incorporated by reference herein.
Item 7.01. Regulation FD Disclosure
On February 5, 2026, the Company issued a press release announcing that it had declared a cash dividend of $0.15 per share on its common stock. The cash dividend is payable March 4, 2026, to shareholders of record at the close of business on February 18, 2026. A copy of the press release is being furnished as Exhibit 99.1 to this Current Report on Form 8‑K and is incorporated by reference herein.
Item 9.01. Financial Statements and Exhibits
Exhibit
Description
99.1
Press release.
104
Cover Page Interactive Data File (embedded within the Inline XBRL document).
2
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
February 5, 2026
By:
/s/ Teresa M. Nilsen
Teresa M. Nilsen
President
3
Dec 3, 2025
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2025-12-03 2025-12-03
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2025-12-03 2025-12-03
0001145255
hnna:NotesDue20264875CustomMember
2025-12-03 2025-12-03
Washington, D.C. 20549
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): December 3, 2025
(Exact name of registrant as specified in its charter)
California
001-36423
68-0176227
(State or other jurisdiction
of incorporation)
(Commission
File Number)
(IRS Employer
Identification No.)
7250 Redwood Blvd., Suite 200
Novato, California
94945
(Address of principal executive offices)
(Zip code)
Registrant’s telephone number including area code: (415) 899-1555
Not Applicable
(Former name or former address, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a‑12)
☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Securities registered pursuant to Section 12(b) of the Act:
Title of each class
Trading symbol
Name of each exchange on which registered
Common stock, no par value
The Nasdaq Stock Market LLC
4.875% Notes due 2026
The Nasdaq Stock Market LLC
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Item 2.02. Results of Operations and Financial Condition
On December 3, 2025, Hennessy Advisors, Inc. issued a press release announcing its financial results for the fiscal year ended September 30, 2025. A copy of the press release is being furnished as Exhibit 99.1 to this Current Report on Form 8‑K and is incorporated by reference herein.
Item 9.01. Financial Statements and Exhibits
The exhibit listed in the exhibit index below is furnished under Item 2.02 of this Current Report on Form 8-K.
Exhibit
Description
99.1
Press release.
104
Cover Page Interactive Data File (embedded within the Inline XBRL document).
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
December 3, 2025 By: /s/ Teresa M. Nilsen
Teresa M. Nilsen
President
Aug 6, 2025
hnna20250805_8k.htm
false 0001145255
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2025-08-06 2025-08-06
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hnna:NotesDue20264875CustomMember
2025-08-06 2025-08-06
Washington, DC 20549
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): August 6, 2025
(Exact name of registrant as specified in its charter)
California
001-36423
68-0176227
(State or other jurisdiction
of incorporation)
(Commission
File Number)
(IRS Employer
Identification No.)
7250 Redwood Blvd., Suite 200
Novato, California
94945
(Address of principal executive offices)
(Zip code)
Registrant’s telephone number including area code: (415) 899-1555
Not Applicable
(Former name or former address, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
☐
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a‑12)
☐
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Securities registered pursuant to Section 12(b) of the Act:
Title of each class
Trading symbol
Name of each exchange on which registered
Common stock, no par value
The Nasdaq Stock Market LLC
4.875% Notes due 2026
The Nasdaq Stock Market LLC
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR §230.405) or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR §240.12b-2).
Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Item 2.02. Results of Operations and Financial Condition
On August 6, 2025, Hennessy Advisors, Inc. (the “Company”) issued a press release announcing its financial results for the fiscal quarter ended June 30, 2025. A copy of the press release is being furnished as Exhibit 99.1 to this Current Report on Form 8‑K and is incorporated by reference herein.
Item 7.01. Regulation FD Disclosure
On August 6, 2025, the Company issued a press release announcing that it had declared a cash dividend of $0.1375 per share on its common stock. The cash dividend is payable September 4, 2025, to shareholders of record at the close of business on August 20, 2025. A copy of the press release is being furnished as Exhibit 99.1 to this Current Report on Form 8‑K and is incorporated by reference herein.
Item 9.01. Financial Statements and Exhibits
Exhibit
Description
99.1
Press release.
104
Cover Page Interactive Data File (embedded within the Inline XBRL document).
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
August 6, 2025
By:
/s/ Teresa M. Nilsen
Teresa M. Nilsen
President
May 7, 2025
hnna20250506_8k.htm
false 0001145255
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2025-05-07 2025-05-07
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hnna:CommonStockCustomMember
2025-05-07 2025-05-07
0001145255
hnna:NotesDue20264875CustomMember
2025-05-07 2025-05-07
Washington, DC 20549
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): May 7, 2025
(Exact name of registrant as specified in its charter)
California
001-36423
68-0176227
(State or other jurisdiction
of incorporation)
(Commission
File Number)
(IRS Employer
Identification No.)
7250 Redwood Blvd., Suite 200
Novato, California
94945
(Address of principal executive offices)
(Zip code)
Registrant’s telephone number including area code: (415) 899-1555
Not Applicable
(Former name or former address, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
☐
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a‑12)
☐
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Securities registered pursuant to Section 12(b) of the Act:
Title of each class
Trading symbol
Name of each exchange on which registered
Common stock, no par value
The Nasdaq Stock Market LLC
4.875% Notes due 2026
The Nasdaq Stock Market LLC
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR §230.405) or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR §240.12b-2).
Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
1
Item 2.02. Results of Operations and Financial Condition
On May 7, 2025, Hennessy Advisors, Inc. (the “Company”) issued a press release announcing its financial results for the fiscal quarter ended March 31, 2025. A copy of the press release is being furnished as Exhibit 99.1 to this Current Report on Form 8‑K and is incorporated by reference herein.
Item 7.01. Regulation FD Disclosure
On May 7, 2025, the Company issued a press release announcing that it had declared a cash dividend of $0.1375 per share on its common stock. The cash dividend is payable June 4, 2025, to shareholders of record at the close of business on May 20, 2025. A copy of the press release is being furnished as Exhibit 99.1 to this Current Report on Form 8‑K and is incorporated by reference herein.
Item 9.01. Financial Statements and Exhibits
Exhibit
Description
99.1
Press release.
104
Cover Page Interactive Data File (embedded within the Inline XBRL document).
2
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
May 7, 2025
By:
/s/ Teresa M. Nilsen
Teresa M. Nilsen
President
3
Feb 13, 2025
hnna20250211_8k.htm
false 0001145255
0001145255
2025-02-13 2025-02-13
0001145255
hnna:CommonStockCustomMember
2025-02-13 2025-02-13
0001145255
hnna:NotesDue20264875CustomMember
2025-02-13 2025-02-13
Washington, DC 20549
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): February 13, 2025
(Exact name of registrant as specified in its charter)
California
001-36423
68-0176227
(State or other jurisdiction
of incorporation)
(Commission
File Number)
(IRS Employer
Identification No.)
7250 Redwood Blvd., Suite 200
Novato, California
94945
(Address of principal executive offices)
(Zip code)
Registrant’s telephone number including area code: (415) 899-1555
Not Applicable
(Former name or former address, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
☐
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a‑12)
☐
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Securities registered pursuant to Section 12(b) of the Act:
Title of each class
Trading symbol
Name of each exchange on which registered
Common stock, no par value
The Nasdaq Stock Market LLC
4.875% Notes due 2026
The Nasdaq Stock Market LLC
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR §230.405) or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR §240.12b-2).
Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
1
Item 2.02.
Results of Operations and Financial Condition
On February 13, 2025, Hennessy Advisors, Inc. (the “Company”) issued a press release announcing its financial results for the fiscal quarter ended December 31, 2024. A copy of the press release is being furnished as Exhibit 99.1 to this Current Report on Form 8‑K and is incorporated by reference herein.
Item 7.01.
Regulation FD Disclosure
On February 13, 2025, the Company issued a press release announcing that it had declared a cash dividend of $0.1375 per share on its common stock. The cash dividend is payable March 6, 2025, to shareholders of record at the close of business on February 24, 2025. A copy of the press release is being furnished as Exhibit 99.1 to this Current Report on Form 8‑K and is incorporated by reference herein.
Item 9.01.
Financial Statements and Exhibits
Exhibit
Description
99.1
Press release.
104
Cover Page Interactive Data File (embedded within the Inline XBRL document).
2
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
February 13, 2025
By:
/s/ Teresa M. Nilsen
Teresa M. Nilsen
President
3
Dec 11, 2024
hnna20241209_8k.htm
false 0001145255
0001145255
2024-12-11 2024-12-11
0001145255
hnna:CommonStockNoParValueCustomMember
2024-12-11 2024-12-11
0001145255
hnna:NotesDue20264875CustomMember
2024-12-11 2024-12-11
Washington, D.C. 20549
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): December 11, 2024
(Exact name of registrant as specified in its charter)
California
001-36423
68-0176227
(State or other jurisdiction
of incorporation)
(Commission
File Number)
(IRS Employer
Identification No.)
7250 Redwood Blvd., Suite 200
Novato, California
94945
(Address of principal executive offices)
(Zip code)
Registrant’s telephone number including area code: (415) 899-1555
Not Applicable
(Former name or former address, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
☐
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a‑12)
☐
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Securities registered pursuant to Section 12(b) of the Act:
Title of each class
Trading symbol
Name of each exchange on which registered
Common stock, no par value
The Nasdaq Stock Market LLC
4.875% Notes due 2026
The Nasdaq Stock Market LLC
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Item 2.02. Results of Operations and Financial Condition
On December 11, 2024, Hennessy Advisors, Inc. issued a press release announcing its financial results for the fiscal year ended September 30, 2024. A copy of the press release is being furnished as Exhibit 99.1 to this Current Report on Form 8‑K and is incorporated by reference herein.
Item 9.01. Financial Statements and Exhibits
The exhibit listed in the exhibit index below is furnished under Item 2.02 of this Current Report on Form 8-K.
Exhibit
Description
99.1
Press release.
104
Cover Page Interactive Data File (embedded within the Inline XBRL document).
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
December 11, 2024 By: /s/ Teresa M. Nilsen
Teresa M. Nilsen
President
Aug 8, 2024
hnna20240807_8k.htm
false 0001145255
0001145255
2024-08-08 2024-08-08
0001145255
hnna:CommonStockNoParValueCustomMember
2024-08-08 2024-08-08
0001145255
hnna:NotesDue20264875CustomMember
2024-08-08 2024-08-08
Washington, DC 20549
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): August 8, 2024
(Exact name of registrant as specified in its charter)
California
001-36423
68-0176227
(State or other jurisdiction
of incorporation)
(Commission
File Number)
(IRS Employer
Identification No.)
7250 Redwood Blvd., Suite 200
Novato, California
94945
(Address of principal executive offices)
(Zip code)
Registrant’s telephone number including area code: (415) 899-1555
Not Applicable
(Former name or former address, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
☐
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a‑12)
☐
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Securities registered pursuant to Section 12(b) of the Act:
Title of each class
Trading symbol
Name of each exchange on which registered
Common stock, no par value
The Nasdaq Stock Market LLC
4.875% Notes due 2026
The Nasdaq Stock Market LLC
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR §230.405) or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR §240.12b-2).
Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
1
Item 2.02.
Results of Operations and Financial Condition
On August 8, 2024, Hennessy Advisors, Inc. (the “Company”) issued a press release announcing its financial results for the fiscal quarter ended June 30, 2024. A copy of the press release is being furnished as Exhibit 99.1 to this Current Report on Form 8‑K and is incorporated by reference herein.
Item 7.01.
Regulation FD Disclosure
On August 8, 2024, the Company issued a press release announcing that it had declared a cash dividend of $0.1375 per share on its common stock. The cash dividend is payable September 5, 2024, to shareholders of record at the close of business on August 22, 2024. A copy of the press release is being furnished as Exhibit 99.1 to this Current Report on Form 8‑K and is incorporated by reference herein.
Item 9.01.
Financial Statements and Exhibits
Exhibit
Description
99.1
Press release.
104
Cover Page Interactive Data File (embedded within the Inline XBRL document).
2
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
August 8, 2024 By: /s/ Teresa M. Nilsen
Teresa M. Nilsen
President
3
May 8, 2024
hnna20240502_8k.htm
false 0001145255
0001145255
2024-05-08 2024-05-08
0001145255
hnna:CommonStockNoParValueCustomMember
2024-05-08 2024-05-08
0001145255
hnna:NotesDue20264875CustomMember
2024-05-08 2024-05-08
Washington, DC 20549
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): May 8, 2024
(Exact name of registrant as specified in its charter)
California
001-36423
68-0176227
(State or other jurisdiction
of incorporation)
(Commission
File Number)
(IRS Employer
Identification No.)
7250 Redwood Blvd., Suite 200
Novato, California
94945
(Address of principal executive offices)
(Zip code)
Registrant’s telephone number including area code: (415) 899-1555
Not Applicable
(Former name or former address, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
☐
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a‑12)
☐
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Securities registered pursuant to Section 12(b) of the Act:
Title of each class
Trading symbol
Name of each exchange on which registered
Common stock, no par value
The Nasdaq Stock Market LLC
4.875% Notes due 2026
The Nasdaq Stock Market LLC
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR §230.405) or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR §240.12b-2).
Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
1
Item 2.02. Results of Operations and Financial Condition
On May 8, 2024, Hennessy Advisors, Inc. (the “Company”) issued a press release announcing its financial results for the fiscal quarter ended March 31, 2024. A copy of the press release is being furnished as Exhibit 99.1 to this Current Report on Form 8‑K and is incorporated by reference herein.
--09-30
Item 5.03. Amendments to Articles of Incorporation or Bylaws; Change in Fiscal Year
Effective as of May 8, 2024, the Board of Directors adopted the Sixth Amended and Restated Bylaws of the Company (the “Bylaws”). The amendments were made to (1) update and expand the procedural and informational requirements for director nominations and other proposals submitted by shareholders under the Company’s “advance notice” provisions, including updates to reflect the adoption of “universal proxy” rules by the Securities and Exchange Commission as set forth in Rule 14a‑19 under the Securities Exchange Act of 1934, as amended, (2) conform to recent revisions to the California Corporations Code with respect to participating in a Board meeting through electronic communication methods, and (3) make other minor clerical edits.
The foregoing description of the Bylaws is qualified in its entirety by reference to the full text of the Bylaws, a copy of which is attached as Exhibit 3.1 hereto and is incorporated by reference herein.
Item 7.01. Regulation FD Disclosure
On May 8, 2024, the Company issued a press release announcing that it had declared a cash dividend of $0.1375 per share on its common stock. The cash dividend is payable June 5, 2024, to shareholders of record at the close of business on May 22, 2024. A copy of the press release is being furnished as Exhibit 99.1 to this Current Report on Form 8‑K and is incorporated by reference herein.
Item 9.01. Financial Statements and Exhibits
Exhibit
Description
3.1
Sixth Amended and Restated Bylaws of Hennessy Advisors, Inc.
99.1
Press release.
104
Cover Page Interactive Data File (embedded within the Inline XBRL document).
2
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
May 8, 2024
By:
/s/ Teresa M. Nilsen
Teresa M. Nilsen
President
3
Feb 8, 2024
hnna20240207_8k.htm
false 0001145255
0001145255
2024-02-08 2024-02-08
0001145255
hnna:CommonStockNoParValueCustomMember
2024-02-08 2024-02-08
0001145255
hnna:NotesDue20264875CustomMember
2024-02-08 2024-02-08
Washington, DC 20549
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): February 8, 2024
(Exact name of registrant as specified in its charter)
California
001-36423
68-0176227
(State or other jurisdiction
of incorporation)
(Commission
File Number)
(IRS Employer
Identification No.)
7250 Redwood Blvd., Suite 200
Novato, California
94945
(Address of principal executive offices)
(Zip code)
Registrant’s telephone number including area code: (415) 899-1555
Not Applicable
(Former name or former address, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
☐
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a‑12)
☐
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Securities registered pursuant to Section 12(b) of the Act:
Title of each class
Trading symbol
Name of each exchange on which registered
Common stock, no par value
The Nasdaq Stock Market LLC
4.875% Notes due 2026
The Nasdaq Stock Market LLC
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR §230.405) or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR §240.12b-2).
Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
1
Item 2.02.
Results of Operations and Financial Condition
On February 8, 2024, Hennessy Advisors, Inc. issued a press release announcing its financial results for the fiscal quarter ended December 31, 2023. A copy of the press release is being furnished as Exhibit 99.1 to this Current Report on Form 8‑K and is incorporated by reference herein.
Item 7.01.
Regulation FD Disclosure
On February 8, 2024, the Company issued a press release announcing that it had declared a cash dividend of $0.1375 per share on its common stock. The cash dividend is payable March 4, 2024, to shareholders of record at the close of business on February 20, 2024. A copy of the press release is being furnished as Exhibit 99.1 to this Current Report on Form 8‑K and is incorporated by reference herein.
Item 9.01.
Financial Statements and Exhibits
Exhibit
Description
99.1
Press release.
104
Cover Page Interactive Data File (embedded within the Inline XBRL document).
2
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
February 8, 2024
By:
/s/ Teresa M. Nilsen
Teresa M. Nilsen
President
3
Dec 6, 2023
hnna20231205_8k.htm
false 0001145255
0001145255
2023-12-06 2023-12-06
0001145255
hnna:CommonStockNoParValueCustomMember
2023-12-06 2023-12-06
0001145255
hnna:NotesDue20264875CustomMember
2023-12-06 2023-12-06
Washington, DC 20549
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): December 6, 2023
(Exact name of registrant as specified in its charter)
California
001-36423
68-0176227
(State or other jurisdiction
of incorporation)
(Commission
File Number)
(IRS Employer
Identification No.)
7250 Redwood Blvd., Suite 200
Novato, California
94945
(Address of principal executive offices)
(Zip code)
Registrant’s telephone number including area code: (415) 899-1555
Not Applicable
(Former name or former address, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a‑12)
☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Securities registered pursuant to Section 12(b) of the Act:
Title of each class
Trading symbol
Name of each exchange on which registered
Common stock, no par value
The Nasdaq Stock Market LLC
4.875% Notes due 2026
The Nasdaq Stock Market LLC
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR §230.405) or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR §240.12b-2).
Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Item 2.02. Results of Operations and Financial Condition
On December 6, 2023, Hennessy Advisors, Inc. issued a press release announcing its financial results for the fiscal year ended September 30, 2023. A copy of the press release is being furnished as Exhibit 99.1 to this Current Report on Form 8‑K and is incorporated by reference herein.
Item 9.01. Financial Statements and Exhibits
The exhibit listed in the exhibit index below is furnished under Item 2.02 of this Current Report on Form 8-K.
Exhibit
Description
99.1
Press release.
104
Cover Page Interactive Data File (embedded within the Inline XBRL document).
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
December 6, 2023
By:
/s/ Teresa M. Nilsen
Teresa M. Nilsen
President
Aug 2, 2023
hnna20230731_8k.htm
false 0001145255
0001145255
2023-08-02 2023-08-02
0001145255
hnna:CommonStockNoParValueCustomMember
2023-08-02 2023-08-02
0001145255
hnna:NotesDue20264875CustomMember
2023-08-02 2023-08-02
Washington, DC 20549
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): August 2, 2023
(Exact name of registrant as specified in its charter)
California
001-36423
68-0176227
(State or other jurisdiction
of incorporation)
(Commission
File Number)
(IRS Employer
Identification No.)
7250 Redwood Blvd., Suite 200
Novato, California
94945
(Address of principal executive offices)
(Zip code)
Registrant’s telephone number including area code: (415) 899-1555
Not Applicable
(Former name or former address, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a‑12)
☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Securities registered pursuant to Section 12(b) of the Act:
Title of each class
Trading symbol
Name of each exchange on which registered
Common stock, no par value
The NASDAQ Stock Market LLC
4.875% Notes due 2026
The NASDAQ Stock Market LLC
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR §230.405) or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR §240.12b-2).
Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Item 2.02. Results of Operations and Financial Condition
On August 2, 2023, Hennessy Advisors, Inc. issued a press release announcing its financial results for the fiscal quarter ended June 30, 2023. A copy of the press release is being furnished as Exhibit 99.1 to this Current Report on Form 8‑K and is incorporated by reference herein.
Item 7.01. Regulation FD Disclosure
On August 2, 2023, the Company issued a press release announcing that it had declared a cash dividend of $0.1375 per share on its common stock. The cash dividend is payable September 6, 2023, to shareholders of record at the close of business on August 23, 2023. A copy of the press release is being furnished as Exhibit 99.1 to this Current Report on Form 8‑K and is incorporated by reference herein.
Item 9.01. Financial Statements and Exhibits
Exhibit
Description
99.1
Press release.
104
Cover Page Interactive Data File (embedded within the Inline XBRL document).
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
August 2, 2023
By:
/s/ Teresa M. Nilsen
Teresa M. Nilsen
President
May 10, 2023
2 hnna-ex99_1.htm
Exhibit 99.1
Hennessy Advisors, Inc. Reports Earnings and Announces Dividend
NOVATO, Calif., May 10, 2023 /PRNewswire/ -- Hennessy Advisors, Inc. (Nasdaq: HNNA) reported results for its second fiscal quarter of 2023, which ended March 31, 2023. The firm also announced a quarterly dividend of $0.1375 per share to be paid on June 5, 2023, to shareholders of record as of May 23, 2023, which represents an annualized dividend yield of 7.7%.*
"The recent headlines in the banking sector certainly contributed to continued stock market volatility the first quarter of 2023," said Neil Hennessy, Chairman and CEO. "However, I believe that the U.S. economy and the financial sector are healthy, as evidenced by the Fed's recent moves. In this current market environment, I feel every investor should be mindful that inflation will likely begin to subside, but remain persistent in the short term, the Fed may continue to raise rates in small increments, and corporate earnings should be stronger than projected. I am resolute in my belief that market fundamentals are strong enough to weather current challenges. Over the longer term, I also believe unemployment rates will remain low and GDP will recover to withstand any threats of a recession," he added.
"Our earnings follow our assets under management, and we have experienced recent declines," said Teresa Nilsen, President and COO. "However, we continue to apply persistent diligence while employing our business strategy of growing organically and by strategic acquisitions:
Several of our Hennessy Funds have received recent accolades for their performance:
The Hennessy Cornerstone Mid Cap 30 Fund and the Hennessy Stance ESG ETF were named Category Kings in the Wall Street Journal as of March 31, 2023.
The Hennessy Energy Transition Fund and the Hennessy Cornerstone Mid Cap 30 Fund received 2023 Refinitiv Lipper Fund awards for best-in-category performance.
On April 26, 2023, we signed a definitive agreement to acquire approximately $70 million in assets under management:
The agreement is for management of the CCM Core Impact Equity Fund and the CCM Small/Mid-Cap Impact Value Fund (the "CCM Equity Funds").
Pending approval by shareholders of the CCM Equity Funds, upon completion of the transaction, the CCM Equity Funds will be reorganized into the Hennessy Stance ESG ETF.
Meanwhile, interest rates are on the rise and with thoughtful management, our available cash net of debt continues to grow, increasing over 13% in the last twelve months," she added.
Financial Highlights (compared to the prior comparable quarter ended March 31, 2022):
Total revenue of $5.9 million, a decrease of 24%.
Net income of $1.2 million, a decrease of 26%.
Fully diluted earnings per share of $0.15, a decrease of 29%.
Average assets under management, upon which revenue is earned, of $3.0 billion, a decrease of 22%.
Total assets under management of $2.8 billion, a decrease of 25%.
Cash and cash equivalents, net of gross debt, of $17.6 million, an increase of 13%.
Financial Highlights
Three Months Ended March 31,
Change
2023
2022
Dollar
Percent
Total Revenue
$ 5,915,644
$ 7,744,624
$ (1,828,980)
-23.6 %
Net Income
1,194,430
1,602,541
(408,111)
-25.5 %
Earnings Per Share (Diluted)
0.15
0.21
(0.06)
-28.6 %
Weighted Average Number of Shares Outstanding (Diluted)
7,610,729
7,548,335
62,394
0.8 %
Average Assets Under Management
2,985,902,812
3,829,346,037
(843,443,225)
-22.0 %
As of March 31,
2023
2022
Total Assets Under Management
$2,843,963,112
$3,804,027,802
$(960,064,690)
-25.2 %
Cash and Cash Equivalents, Net of Gross Debt Balance
17,619,093
15,585,132
2,033,961
13.1 %
* Based on the closing stock price of $7.12 on May 9, 2023, and an annualized dividend of $0.55 per share.
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.
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 accu
Feb 9, 2023
2 hnna-ex99_1.htm
Exhibit 99.1
Hennessy Advisors, Inc. Reports Quarterly Earnings Per Share and Announces Quarterly Dividend
NOVATO, Calif., Feb. 9, 2023 /PRNewswire/ -- Hennessy Advisors, Inc. (Nasdaq:HNNA) reported results for its first fiscal quarter of 2023, which ended December 31, 2022. The firm also announced a quarterly dividend of $0.1375 per share to be paid on March 6, 2023, to shareholders of record as of February 21, 2023, which represents an annualized dividend yield of 5.6%.*
"There is no doubt that 2022 was a tumultuous year in the financial markets. All the major indices suffered losses as our economy dealt with inflation, oil price shocks, interest rate increases, war, political division, and the rumors of an impending recession. I feel certain that volatility actually created a shifting investment landscape as investors had to go back to basics and invest utilizing fundamentals while they watched FAANG stocks fall from all-time highs, cryptocurrency implode, and meme-stock euphoria subside. Here at Hennessy, six of our sixteen mutual funds were positive in 2022, as we stick to value investing for the long-term," said Neil Hennessy, Chairman and CEO. "Although we will likely see continued volatility, I remain confident that our economy is in good shape. The unemployment rate is low at 3.5%, and in the final quarter of 2022 real GDP grew at an annualized rate of 2.9%, even amidst interest rate hikes and inflationary pressure. We may continue to have corrections along the way, but I believe we have the potential for real growth in the market and in our economy over the longer term," he added.
"We are excited to add the first ETF to our line-up, the Hennessy Stance ESG Large Cap ETF (NYSE: STNC). While our assets under management were down year over year, we feel confident that expanding our product offerings while adapting and innovating our sales and marketing program with broader digital engagement will help support organic growth in the future," said Teresa Nilsen, President and COO. "We have experienced many market cycles in our years in the investment industry, and we have maintained a conservative balance sheet and an income statement with significant variable costs to navigate a variety of market environments. Our available cash net of debt has grown 17.9% this calendar year, and we are both optimistic and prepared for new strategic acquisition opportunities when they arise," she added.
Summary Highlights (compared to the prior comparable quarter ended December 31, 2021):
Total revenue of $6.1 million, a decrease of 28%.
Net income of $1.1 million, a decrease of 42%.
Fully diluted earnings per share of $0.15, a decrease of 40%.
Average assets under management, upon which revenue is earned, of $3.0 billion, a decrease of 26%.
Total assets under management of $3.0 billion, a decrease of 26%.
Cash and cash equivalents, net of gross debt, of $16.8 million, an increase of 18%.
Financial Highlights
Three Months Ended December 31,
Change
2022
2021
Dollar
Percent
Total Revenue
$ 6,144,863
$ 8,534,371
$ (2,389,508)
-28.0 %
Net Income
1,119,100
1,912,532
(793,432)
-41.5 %
Earnings Per Share (Diluted)
0.15
0.25
(0.10)
-40.0 %
Weighted Average Number of Shares Outstanding (Diluted)
7,581,157
7,522,686
58,471
0.8 %
Average Fund Assets Under Management
3,044,246,652
4,099,272,805
(1,055,026,153)
-25.7 %
As of December 31,
2022
2021
Total Fund Assets Under Management
$ 3,009,457,663
$ 4,072,848,989
$(1,063,391,326)
-26.1 %
Cash and Cash Equivalents, Net of Gross Debt Balance
16,800,396
14,252,322
2,548,074
17.9 %
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.
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,
Dec 8, 2022
2 hnna-ex99_1.htm
Exhibit 99.1
Hennessy Advisors, Inc. Reports Annual Earnings
NOVATO, Calif., Dec. 7, 2022 /PRNewswire/ -- Hennessy Advisors, Inc. (Nasdaq: HNNA) today reported results for the fiscal year ended September 30, 2022.
"At the beginning of 2022, the financial markets were on the rise and our economy seemed unflappable as pandemic-related issues seemed to be subsiding. But as we all know, change is inevitable. The conflict in the Ukraine, widespread inflationary concerns, and interest rate increases contributed to a year of stock market retraction and economic volatility," said Neil Hennessy, Chairman and CEO. "Even faced with these challenges and the often alarmist financial headlines, I believe there are many fundamental positives in our economy. The labor market shows no signs of fatigue, household balance sheets are showing robust savings, and corporations are benefitting from cost cutting and newly revived consumer spending. I feel confident that as interest rates and inflation stabilize, consumers and investors will recognize the underlying strengths in our economy, which should lead to positive momentum in the market," he added.
"While our earnings fell during the fiscal year due to lower assets under management and the interest expense on our bond debt, that is only part of the story here at Hennessy Advisors," said Teresa Nilsen, President and COO. "We are building our cash balance and we continue to cover our long-standing dividend. Our distribution team is actively supporting our product line-up and we are diligently pursuing strategic partnerships, as evidenced by our transaction to acquire the assets of the Stance Equity ESG Large Cap Core ETF (NYSE: STNC), which we anticipate closing this month," she added.
Summary Highlights for the Fiscal Year (compared to fiscal year 2021):
Total revenue of $29.7 million, a decrease of 9%.
Net income of $6.2 million, a decrease of 22%.
Fully diluted earnings per share of $0.82, a decrease of 23%.
Average assets under management, upon which revenue is earned, of $3.6 billion, a decrease of 9%.
Total assets under management of $2.9 billion, a decrease of 29%.
Cash and cash equivalents, net of gross debt, of $18.2 million, an increase of 15%.
Financial Highlights
Twelve Months Ended Sept. 30,
Change
2022
2021
Dollar
Percent
Total Revenue
$ 29,666,869
$ 32,760,482
$ (3,093,613)
-9.4 %
Net Income
6,190,209
7,902,060
(1,711,851)
-21.7 %
Earnings Per Share (Diluted)
0.82
1.07
(0.25)
-23.4 %
Weighted Average Number of Shares Outstanding (Diluted)
7,558,008
7,409,112
148,896
2.0 %
Mutual Fund Average Assets Under Management
3,644,362,374
3,989,300,458
(344,938,084)
-8.6 %
As of Sept. 30,
2022
2021
Mutual Fund Total Assets Under Management
$ 2,895,716,700
$ 4,065,922,008
$(1,170,205,308)
-28.8 %
Cash and Cash Equivalents, Net of Gross Debt
18,236,604
15,835,907
2,400,697
15.2 %
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.
CONTACT: Teresa Nilsen, Hennessy Advisors, Inc., Terry
Aug 3, 2022
2 d381813dex991.htm
Exhibit 99.1
Hennessy Advisors, Inc. Reports Earnings, Announces Dividend, and Increases Stock Buyback Plan
NOVATO, Calif., Aug. 3, 2022 /PRNewswire/ -- Hennessy Advisors, Inc. (NASDAQ: HNNA) reported results for its third fiscal quarter of 2022, which ended June 30, 2022. The firm also announced a quarterly dividend of $0.1375 per share to be paid on August 31, 2022, to shareholders of record as of August 16, 2022, which represents an annualized dividend yield of 5.3%.*
"While the fear of high interest rates and persistent inflation has weakened investor confidence in the short term, I want to highlight that I do not believe the U.S. is in a prolonged recession. Even in the face of interest rate and inflation hurdles, I feel that the U.S. economy is on a long-term positive trajectory, as consumers continue to spend and the labor market remains relatively robust. Outside the U.S., however, political tension and the Russian and Ukrainian conflict with its negative effect on energy and food sources are slowing down the global economy," said Neil Hennessy, Chairman and CEO.
"While our earnings are down this quarter primarily due to the interest expense related to our bond debt, our cash net of outstanding debt continues to grow. Our dividend remains well covered, and we continue to believe our stock is undervalued. At our most recent board meeting, we voted to increase the shares available for our stock buyback plan," said Teresa Nilsen, President and COO. "We now have over 1,000,000 shares eligible for repurchase in the event that we decide to buy back shares of the company," she added. "We will continue to implement our business model of organic growth and strategic acquisitions, and focus on our shareholders, regardless of the current economic environment."
Summary Highlights (compared to the prior comparable quarter ended June 30, 2021):
Total revenue of $6.9 million, a decrease of 19%. Net income of $1.3 million, a decrease of 42%. Fully diluted earnings per share of $0.17, a decrease of 43%. Average assets under management, upon which we earn our revenue, of $3.4 billion, a decrease of 17%. Total assets under management of $3.2 billion, a decrease of 23%. Cash and cash equivalents, net of gross debt, of $17.2 million, an increase of 23%.
Financial Highlights
Three Months Ended June 30,
Change
2022
2021
Amount
Percent
Total Revenue
$ 6,909,032
$ 8,527,229
$ (1,618,197)
-19.0 %
Net Income
$ 1,301,132
2,244,115
$ (942,983)
-42.0 %
Earnings Per Share (Diluted)
$ 0.17
0.30
$ (0.13)
-43.3 %
Weighted Average Number of Shares Outstanding (Diluted)
7,577,134
7,431,925
145,209
2.0 %
Mutual Fund Average Assets Under Management
$ 3,439,130,612
4,151,414,945
$ (712,284,333)
-17.2 %
As of June 30,
2022
2021
Mutual Fund Total Assets Under Management
$ 3,155,565,937
$ 4,117,560,103
$ (961,994,166)
-23.4 %
Cash and Cash Equivalents, Net of Gross Debt Balance
$ 17,230,311
$ 14,037,646
$ 3,192,665
22.7 %
* Based on the closing stock price of $10.38 on August 2, 2022, and an annualized dividend of $0.55 per share.
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 mutual 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.
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
May 11, 2022
2 d237438dex991.htm
Exhibit 99.1
Hennessy Advisors, Inc. Reports Quarterly Earnings and Announces Quarterly Dividend
NOVATO, Calif., May 11, 2022 /PRNewswire/ -- Hennessy Advisors, Inc. (NASDAQ:HNNA) reported results for its second fiscal quarter of 2022, which ended March 31, 2022. The firm also announced a quarterly dividend of $0.1375 per share to be paid on June 2, 2022, to shareholders of record as of May 23, 2022, which represents an annualized dividend yield of 5.8%.*
"After two years of unprecedented change in the world, we are still confronted with many challenges: a lingering pandemic, mounting inflation (including high energy prices), a war in Ukraine, and market volatility. Moreover, while all of these challenges have ramifications for every person and every business (including ours), I believe the social and economic effects on our world, especially for the people in the Ukraine, are far more significant. Despite all these hurdles, we still believe that the U.S. economy is strong. The American consumer is in solid financial shape with a robust job market, wage increases, more than $2 trillion in savings, and very low individual debt. I remain confident that our financial markets will be buoyed by corporate earnings, continued buybacks, and dividend increases as companies strategically use their cash. I am hopeful that the Federal Reserve and the government will be thoughtful as they deploy rate increases intended to stem inflation," said Neil Hennessy, Chairman and CEO. "Although the volatility we've seen in the first calendar quarter of the year will likely continue in the short term, I am convinced that strong market fundamentals can support reasonable returns in 2022 and beyond," he added.
"While our earnings are down this quarter primarily due to the interest expense related to our bond debt, our cash net of outstanding debt is up over 35% in the past 12 months, and that continues to be the real story here at Hennessy," said Teresa Nilsen, President and COO. "We have nearly $56 million in cash (and growing) to deploy strategically and efficiently. We remain diligent in our search for acquisitions. With excellent operating cash flow coverage for our dividend, we can focus on deploying our available cash in the best way possible to provide value to our shareholders," she added.
Summary Highlights (compared to the prior comparable quarter ended March 31, 2021):
Total revenue of $7.7 million, a decrease of 2%. Net income of $1.6 million, a decrease of 15%. Fully diluted earnings per share of $0.21, a decrease of 19%. Average assets under management, upon which revenue is earned, of $3.8 billion, a decrease of 2%. Total assets under management of $3.8 billion, a decrease of 5%. Cash and cash equivalents, net of gross debt, of $15.6 million, an increase of 36%.
Financial Highlights
Three Months Ended March 31,
Change
2022
2021
Amount
Percent
Total Revenue
$ 7,744,624
$ 7,934,057
$ (189,433)
-2.4%
Net Income
$ 1,602,541
$ 1,885,516
$ (282,975)
-15.0%
Earnings Per Share (Diluted)
$ 0.21
$ 0.26
$ (0.05)
-19.2%
Weighted Average Number of Shares Outstanding (Diluted)
7,548,335
7,382,854
165,481
2.2%
Mutual Fund Average Assets Under Management
$3,829,346,037
$3,918,388,292
$ (89,042,255)
-2.3%
As of March 31,
2022
2021
Mutual Fund Total Assets Under Management
$3,804,027,802
$4,023,364,123
$(219,336,321)
-5.5%
Cash and Cash Equivalents, Net of Gross Debt Balance
$ 15,585,132
$ 11,476,204
$ 4,108,928
35.8%
*
Based on the closing stock price of $9.45 on May 10, 2022, and an annualized dividend of $0.55 per share.
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 mutual 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.
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. Forwar
Feb 10, 2022
2 d309946dex991.htm
Exhibit 99.1
Hennessy Advisors, Inc. Reports 4% Increase in Quarterly Earnings Per Share and Announces Quarterly Dividend
NOVATO, Calif., Feb. 10, 2022 /PRNewswire/ -- Hennessy Advisors, Inc. (NASDAQ:HNNA) reported results for its first fiscal quarter of 2022, which ended December 31, 2021. The firm also announced a quarterly dividend of $0.1375 per share to be paid on March 4, 2022, to shareholders of record as of February 22, 2022, which represents an annualized dividend yield of 5.4%.*
"The markets remained strong in 2021, with the DJIA (Dow Jones Industrial Average) up nearly 21%, even amidst a range of issues from the emergence of new variants of COVID, rising inflation, supply-chain disruption, and the Fed hinting at less accommodative monetary policy. However, as we began 2022, the market resilience slipped as the same "issues" persisted and investor uncertainty and market volatility quickly took hold. The biggest driver of the volatility, in my opinion, will continue to revolve around the Fed and when and how many times they will raise rates. I believe there will be modest increases in rates, but I also believe that the market will continue to perform well despite any rate hikes, pandemics, or supply-side issues. I remain steadfastly bullish based on market fundamentals of low unemployment, solid corporate earnings, strong economic growth, and consistent dividend payouts," said Neil Hennessy, Chairman and CEO. "I believe we will see new market highs this year, despite potential corrections along the way," he noted.
"We are pleased to report growth in all categories this quarter, but especially in our cash net of outstanding debt, which is up over 40% in the past 12 months," said Teresa Nilsen, President and COO. "We were excited to complete a bond offering, raising $40.3 million during the quarter. Our available cash places us in a more competitive position for acquisition opportunities. While we are diligently and prudently looking for acquisition targets, our operating cash flows support our continued operations, especially our stable dividend, which represents our ongoing commitment to our shareholders," she added.
Summary Highlights (compared to the prior comparable quarter ended December 31, 2020):
Total revenue of $8.5 million, an increase of 10%. Net income of $1.9 million, an increase of 8%. Fully diluted earnings per share of $0.25, an increase of 4%. Average assets under management, upon which revenue is earned, of $4.1 billion, an increase of 8%. Total assets under management of $4.1 billion, an increase of 6%. Cash and cash equivalents, net of gross debt, of $14.3 million, an increase of 43%.
Financial Highlights
Three Months Ended December 31,
Change
2021
2020
Dollar
Percent
Total Revenue
$ 8,534,371
$ 7,788,999
$ 745,372
9.6%
Net Income
1,912,532
1,773,312
139,220
7.9%
Earnings Per Share (Diluted)
0.25
0.24
0.01
4.2%
Weighted Average Number of Shares Outstanding (Diluted)
7,522,686
7,367,128
155,558
2.1%
Mutual Fund Average Assets Under Management
4,099,272,805
3,785,369,547
313,903,258
8.3%
As of December 31,
2021
2020
Mutual Fund Total Assets Under Management
$4,072,848,989
$3,832,551,456
$240,297,533
6.3%
Cash and Cash Equivalents, Net of Gross Debt Balance
14,252,322
9,954,375
4,297,947
43.2%
* Based on the closing stock price of $10.25 on February 9, 2022, and an annualized dividend of $0.55 per share.
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 mutual 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.
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 Ex
Nov 24, 2021
2 d247965dex991.htm
Exhibit 99.1
Hennessy Advisors, Inc. Reports Annual Earnings
NOVATO, Calif., Nov. 24, 2021 /PRNewswire/ -- Hennessy Advisors, Inc. (Nasdaq:HNNA) today reported results for the fiscal year ended September 30, 2021.
"The U.S. economy continues to show solid growth despite the lingering effects of COVID-19, some inflation, and supply chain hurdles," said Neil Hennessy, Chairman and CEO. "U.S. equities had positive performance for the 12 months ended September 30, 2021, with the DJIA (Dow Jones Industrial Average) returning 24.15% for the period. Over the past year, we have seen widespread availability of vaccines and an ever-increasing number of people traveling, eating in restaurants, and returning to work. The markets are showing true resiliency, with the DJIA recently breaking through to new all-time highs, and I am confident there is still room for further growth," he added.
"Hennessy Advisors continues to deliver positive earnings and generate strong operating cash flows," said Teresa Nilsen, President and COO. "The accumulation of our cash and cash equivalents, coupled with our recent bond offering, which occurred after our fiscal year end, gives us large reserves that can be utilized for future opportunities," she added.
Summary Highlights for the Fiscal Year (compared to fiscal year 2020):
Total revenue of $32.8 million, a decrease of 1.9%. Net income of $7.9 million, an increase of 0.8%. Fully diluted earnings per share of $1.07, an increase of 0.9%. Average assets under management, upon which revenue is earned, of $4.0 billion, a decrease of 2.7%. Total assets under management of $4.1 billion, an increase of 14.1%. Cash and cash equivalents of $15.8 million, an increase of 59.1%.
Financial Highlights
Twelve Months Ended Sept. 30,
Change
2021
2020
Dollar
Percent
Total Revenue
$ 32,760,482
$ 33,388,696
$ (628,214)
-1.9%
Net Income
7,902,060
7,840,670
61,390
0.8%
Earnings Per Share (Diluted)
1.07
1.06
0.01
0.9%
Weighted Average Number of Shares Outstanding (Diluted)
7,409,112
7,378,729
30,383
0.4%
Mutual Fund Average Assets Under Management
3,989,300,458
4,098,404,288
(109,103,830)
-2.7%
As of Sept. 30,
2021
2020
Mutual Fund Total Assets Under Management
$ 4,065,922,008
$ 3,564,597,465
$ 501,324,543
14.1%
Cash and Cash Equivalents
15,835,907
9,954,791
5,881,116
59.1%
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 mutual 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.
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.
Media Contacts: Teresa Nilsen, Hennessy Advisors, Inc., terry@hennessyadvisors.com; 800-966-4354; Melissa Murphy, SunStar Strategic, MMurphy@sunstarstrategic.com; 703-894-1061
This page provides Hennessy Advisors Inc. (HNNA) earnings call transcripts from SEC 8-K filings along with AI-powered predictions for post-earnings price movements. Our machine learning models analyze historical earnings data, pre-earnings price patterns, volume changes, and volatility to predict 1-day, 5-day, and 20-day returns after each earnings release.
Earnings transcripts are sourced directly from SEC EDGAR filings. Predictions are generated using gradient boosting models trained on HNNA's historical earnings reactions. All predicted returns are shown as percentages, and predicted prices are calculated from the closing price at the time of prediction. Past performance does not guarantee future results.