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Sep 30, 2020
B. Riley Q3 2020 Earnings Report
B. Riley reported strong Q3 2020 results with increased revenues and net income.
Key Takeaways
B. Riley Financial announced strong third-quarter results, with consolidated revenues of $226.3 million and net income of $47.3 million, or $1.75 per diluted share. The capital markets group was the primary driver of growth, with strong performance in liquidation business and steady cash flows from valuation business, brand portfolio, and wholly-owned subsidiaries.
Q3 2020 consolidated revenues reached $226.3 million.
Net income for Q3 2020 was $47.3 million, or $1.75 per diluted share.
Operating adjusted EBITDA grew by over 90%.
The regular quarterly cash dividend was raised to $0.375 per common share.
Forward Guidance
B. Riley anticipates delivering strong growth in the fourth quarter and increased its regular quarterly dividend due to its strong performance and confidence in its business strategy.
Positive Outlook
- Clear line of sight to delivering strong growth in the fourth quarter.
- Increased regular quarterly dividend to $0.375.
- Overall business has become increasingly diversified and recurring in nature.
- Will continue to consider special dividends when appropriate.
- Will continue to opportunistically repurchase shares.
Challenges Ahead
- Risks associated with the unpredictable and ongoing impact of the COVID-19 pandemic.
- Risks described in B. Riley Financial, Inc.’s periodic filings with the SEC.
- Potential factors that could cause actual results to differ materially.
- Risks described in B. Riley Financial, Inc.’s Annual Report on Form 10-K for the year ended December 31, 2019.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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