FG Financial reports Q3 revenue $10.5M vs. $4.1M last year

Total assets of $116M an increase of $54M from December 31, 2023. Assets included equity holdings of $68M, which included directly or indirectly held positions in GreenFirst Forest Products, , Firefly Media Systems, Saltire Capital, OppFi , iCoreConnect, FG Communities, Craveworthy and other holdings.Net income improved to $17.7M for the quarter from a loss of $3.3M in the prior year primarily due to the $21M gain on the sale of Strong/MDI recognized during the quarter and improved reinsurance and managed service performance. Net loss from continuing operations increased $1.4M to $5.2 M for the quarter. Stronger gross profit from managed services and reinsurance was partially offset by the addition of expenses from FGF, which are not included in the prior year periods.Earnings per share improved to $15.06 per common share from a loss of $(8.01) per common share. The increase in earnings per share is primarily due to the $21M gain on the sale of Strong/MDI recognized during the quarter. Earnings per share from continuing operations improved to $(4.98) from $(9.28) per common share. The improvement in earnings per share from continuing operations was primarily due to increased revenue and gross profit from our managed services business and our reinsurance business