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Dec 31, 2024
B. Riley Q4 2024 Earnings Report
B. Riley Financial posted a marginal profit in Q4 2024, despite significant investment losses and impairments.
Key Takeaways
In Q4 2024, B. Riley Financial recorded $201.4M in revenue and a net income of $0.9M, with EPS of $0.03. While operating income was negative, the company reported income from discontinued operations that helped offset losses from continuing operations.
Q4 revenue was $201.4M, down from $313.8M YoY
Net income available to common shareholders was $0.9M
EPS was $0.03 for the quarter
Operating income remained negative at -$160.8M due to impairments and investment losses
Forward Guidance
For H1 2025, B. Riley expects net income of $125M–$145M, aided by gains from divestitures and debt exchanges.
Positive Outlook
- Projected H1 2025 EPS of $4.08 to $4.74
- Cash position improved to $268M by June 2025
- Debt reduced by $600M vs. September 2024
- Strong gains from JOANN liquidation and divestitures
- New CFO and internal controls improvements
Challenges Ahead
- Large Q4 goodwill impairments of $77.7M
- Continued investment losses: $51.3M in Q4
- Fair value loan adjustments negatively impacted income
- High SG&A costs of $188M in Q4
- Still recovering from major FY losses totaling $772M
Historical Earnings Impact
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Avg. Return Before/After Earnings
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