B. Riley Q4 2022 Earnings Report
Key Takeaways
B. Riley Financial reported Q4 2022 results, including a GAAP net loss of $59.4 million and total revenues of $326.8 million. The company's operating adjusted EBITDA was $101.8 million, exceeding the guided range. Despite a challenging Capital Markets environment, the company delivered the second-best year of Operating Adjusted EBITDA in its firm’s history. The company declared a quarterly dividend of $1.00 per common share.
Q4 2022 GAAP Net Loss was ($59.4 million).
Q4 2022 Total Revenues reached $326.8 million.
Q4 2022 Operating Revenues were $450.4 million.
Q4 2022 Operating Adjusted EBITDA was $101.8 million, surpassing guidance.
B. Riley
B. Riley
B. Riley Revenue by Segment
Forward Guidance
B. Riley anticipates continued momentum from late Q4 into Q1, particularly in Capital Markets, Liquidation, and Real Estate practices. The company expects to grow organically and through acquisitions, focusing on operational efficiencies and long-term strengthening of its market position.
Positive Outlook
- Capital Markets began to improve late in Q4 and this momentum has continued into Q1.
- Increased activity in Liquidation and Real Estate practices benefitting from pockets of distress.
- The investment portfolio is well-positioned heading into 2023.
- Attractive opportunities to deploy excess liquidity in ways that competitively advantage clients.
- Focus on supporting clients by helping them deliver on their strategic business initiatives.
Challenges Ahead
- Challenging Capital Markets environment.
- Investment marks are not immune to broader market fluctuations.
- Liquidity restrained environment.
- Non-accrual loans receivable accounted for approximately $7 million of loans receivable, at fair value.
- Total debt was approximately $2.45 billion at December 31, 2022
Revenue & Expenses
Visualization of income flow from segment revenue to net income