Business
B. Riley Financial Releases Guidance for Fourth Quarter and Full Year 2020
Q4 2020 net income guidance range of $109 to $112 million, or $4.15 to $4.27 per diluted share; Adjusted EBITDA of $175 to $180 million, and Operating
About this update from Brc Group Holdings, Inc.
[{"type":"text","content":"Q4 2020 net income guidance range of $109 to $112 million, or $4.15 to $4.27 per diluted share; Adjusted EBITDA of $175 to $180 million, and Operating adjusted EBITDA of $100 to $105 million\n FY 2020 net income guidance range of $143 to $146 million, up over 75% from FY 2019, Adjusted EBITDA of $321 to $326 million, up over 55%, and Operating adjusted EBITDA of $285 to $290 million, up over 150%\n Announces strategic investment in Lingo Communications\n\n\nLOS ANGELES, Dec. 17, 2020 /PRNewswire/ -- B. Riley Financial, Inc. (NASDAQ: RILY) today released guidance for the fourth quarter and full year 2020 ending December 31, 2020.\n\n \n \n \n \n \n \n\n \nForecasted Fourth Quarter 2020 Results\nNet income guidance range of $109 to $112 million, or $4.15 to $4.27 per diluted share Adjusted EBITDA(1) in the range of $175 to $180 million Operating adjusted EBITDA(2) in the range of $100 to $105 millionForecasted Full Year 2020 Results\nNet income of $143 to $146 million, or $5.19 to $5.31 per diluted share, up over 75% from FY 2019 Adjusted EBITDA(1) of $321 to $326 million, up over 55% from FY 2019 Operating adjusted EBITDA(2) of $285 to $290 million, up over 150% from FY 2019\"Our financial forecast for the fourth quarter and full year demonstrate the increasing value of our diversified platform as we continue to optimize our recurring and episodic EBITDA. Our guidance reflects the combined strength of our operating businesses which include our core investment banking, advisory services, retail liquidation, wealth management and principal investments divisions,\" said Bryant Riley, Chairman and Co-Chief Executive Officer of B. Riley Financial.\n\"We are providing guidance in connection with recent strategic investments. This includes our investment in Lingo Communications and our recently announced investment in the Justice clothing brand – both of which we expect will result in steady cash flow generation for our platform,\" added Riley.\n\"Our expanding platform capabilities, combined with our balance sheet flexibility, continue to provide compelling, differentiated solutions for our growing client base. We are more excited than ever about these proprietary opportunities, and we look forward to building on this year's momentum,\" said Riley.\nFourth Quarter and Full Year 2020 Guidance\nFor the fourth quarter of 2020, B. Riley fo...