Business
B. Riley Financial Reports Results for Fourth Quarter and Full Year 2019 and Increases Quarterly Dividend
Reports revenues of $165.2 million for Q4 2019 and $652.1 million for FY 2019 with net income of $16.9 million for Q4 2019 and $81.3 million for FY 2019
About this update from Brc Group Holdings, Inc.
[{"type":"text","content":"Reports revenues of $165.2 million for Q4 2019 and $652.1 million for FY 2019 with net income of $16.9 million for Q4 2019 and $81.3 million for FY 2019\n Declares total quarterly cash dividend of $0.35 per common share includes increased regular dividend of $0.25 per share and special dividend of $0.10 per share\n Total of $1.76 per share in dividends declared related to FY 2019 earnings\n\n\nLOS ANGELES, March 3, 2020 /PRNewswire/ -- B. Riley Financial, Inc. (NASDAQ:RILY) (\"B. Riley\" or the \"Company\"), a diversified provider of business advisory and financial services, today announced results for the fourth quarter and full year ended December 31, 2019.\n\n \n \n \n \n \n \n\n \nQ4 2019 Highlights\nRevenues of $165.2 million vs. $102.0 million for Q4 2018 Net income of $16.9 million or $0.59 per diluted share Adjusted EBITDA of $50.3 million vs. $11.2 million for Q4 2018 Adjusted net income of $23.6 million or $0.83 per diluted shareFY 2019 Highlights\nRevenues of $652.1 million vs. $423.0 million for FY 2018 Net income of $81.3 million or $2.95 per diluted share Adjusted EBITDA of $207.9 million vs. $89.6 million for FY 2018 Adjusted net income of $108.3 million or $3.93 per diluted share\"Our strong quarterly performance was driven by record investment banking revenues as well as significant gains from our investment portfolio which helped more than offset a large loss in our liquidation segment. Meanwhile, our consulting, appraisal, wealth management and principal investment businesses continue to perform steadily as we pursue new opportunities to create additional value from our platform. Our recently acquired brand portfolio also contributed to our fourth quarter results and we expect this to be a more meaningful component of earnings as we look ahead,\" said Bryant Riley, Chairman and Co-Chief Executive Officer, B. Riley Financial.\nRiley added, \"Our results demonstrate the strength of B. Riley Financial's diversified platform and successful execution of our core strategy to create increased value while also delivering dividends to our shareholders. Over the last few years, we have meaningfully transformed our business by building and purchasing assets with steadier and more recurring revenue streams. In 2019, these recurring businesses contributed more than 50 percent of pre-tax income before corporate overhead and...