B. Riley Financial ( (RILY) ) has released its Q4 earnings. Here is a breakdown of the information B. Riley Financial presented to its investors.
B. Riley Financial, Inc. is a diversified financial services company that provides a wide range of solutions across investment banking, brokerage, wealth management, and more, catering to the strategic and capital needs of its clients. In its latest earnings report, B. Riley Financial released preliminary unaudited estimates for the fourth quarter of 2024, highlighting a net income available to common shareholders expected to range between $48 million and $68 million, translating to $1.57 to $2.22 per diluted share. The company faced challenges with a net loss from continuing operations projected between $178 million and $187 million, largely due to impairment charges and trading losses. Despite these setbacks, B. Riley Financial made significant strides in reducing its debt by over $700 million since January 2024, which included retiring its Nomura facility. The company also reported cash and cash equivalents of approximately $257 million as of December 31, 2024. Looking ahead, B. Riley Financial remains optimistic about its core businesses, particularly B. Riley Securities, and plans to invest in growing its team in the coming quarters, indicating a positive outlook for future growth.