Business
B. Riley Financial Reports Fourth Quarter and Full Year 2021 Results
Q4 2021 Net income of $62.2 million, $2.08 diluted EPS Q4 2021 Total revenues of $422.1 million, total adjusted EBITDA of $138.0 million Q4 2021 Operating
About this update from Brc Group Holdings, Inc.
[{"type":"text","content":"Q4 2021 Net income of $62.2 million, $2.08 diluted EPS\n Q4 2021 Total revenues of $422.1 million, total adjusted EBITDA of $138.0 million\n Q4 2021 Operating revenues of $353.3 million, operating adjusted EBITDA of $106.1 million\n Strong earnings driven by investment banking, in addition to wealth management, principal investments, and brands\n Declares regular quarterly dividend of $1.00 per common share\n\n\nLOS ANGELES, Feb. 23, 2022 /PRNewswire/ -- B. Riley Financial, Inc. (NASDAQ: RILY), a diversified financial services company, today announced results for the three- and twelve-month period ended December 31, 2021.\n\n \n \n \n \n \n \n\n \nFourth Quarter 2021 Financial Highlights\nNet income of $62.2 million, $2.08 diluted EPS Total revenues of $422.1 million Total adjusted EBITDA (1) of $138.0 million Operating revenues (2) of $353.3 million Operating adjusted EBITDA (3) of $106.1 millionFull Year 2021 Financial Highlights\nNet income of $437.6 million, $15.09 diluted EPS Total revenues of $1,740.6 million Total adjusted EBITDA (1) of $762.5 million Operating revenues (2) of $1,353.9 million Operating adjusted EBITDA (3) of $422.0 million Strengthened wealth management, asset management and M&A capabilities Significantly lowered cost of debt Declared dividends of $10.00 per common share for FY 2021Bryant Riley, Chairman and Co-Chief Executive Officer of B. Riley Financial, said: \"We are pleased to report another strong quarter and full year of results thanks to our talented and ambitious team. By adding to our wealth management, asset management and M&A businesses through acquisition and hiring exceptional talent in all areas, we continue to provide unique capabilities to our clients and partners. In 2021, we strengthened our balance sheet and reduced our cost of capital, allowing us the flexibility to invest across the platform and return capital to shareholders with share buybacks and dividend payments. Over the past four quarters, B. Riley has declared $10.00 in common dividends thanks to the strong cash flow of our episodic and recurring businesses.\"\nTom Kelleher, Co-Chief Executive Officer of B. Riley Financial, added: \"Operating revenue for the full year 2021 increased 70% to $1.4 billion compared to $799 million for the full year 2020. Our efforts to cross-sell throughout the platform is gaining traction and ...