Business
B. Riley Financial Shares Preliminary Fourth Quarter and Full Year 2024 Results and Financial Estimates and Business Update for First Half 2025
First Half 2025 Net Income Available to Common Shareholders Expected to be in the Range of $125.0 Million to $145.0 Million, or $4.08 to $4.74 Diluted Net
About this update from Brc Group Holdings, Inc.
[{"type":"text","content":"First Half 2025 Net Income Available to Common Shareholders Expected to be in the Range of $125.0 Million to $145.0 Million, or $4.08 to $4.74 Diluted Net Income per Common Share\nAs of June 30, 2025, Estimated Cash of $268 Million, Total Debt of $1.46 Billion, and Net Debt in the Range of $809 Million to $839 Million; Total Debt Estimated to Have Decreased by $600 Million from September 30, 2024; Net Debt Estimated to Have Decreased by $544 Million to $574 Million from September 30, 2024\nPreliminary Year-End 2024 Net Loss Available to Common Shareholders is $772.3 Million, or $25.46 Diluted Net Loss per Common Share\nLOS ANGELES, Aug. 13, 2025 /PRNewswire/ -- B. Riley Financial, Inc. (NASDAQ: RILY) (\"BRF\" or the \"Company\"), a diversified financial services company, today is providing preliminary fourth quarter and full year 2024 results and financial estimates, and a business update for the first half of 2025, ended June 30, 2025.\n\nFirst Half 2025 Highlights\nExecuted B. Riley Securities (\"BRS\") carve out in March 2025, aligning capital and management to serve clients. Partnered with BRS to provide clients timely, flexible capital through variable rate transactions and funding for emerging client priorities in AI investments.BRS business highlights include: acting as the lead left book-runner on an AI infrastructure provider's IPO; joint lead placement on a fabless semiconductor company's capital raise; the sole bookrunner for an Ethereum treasury company's equity raises across two transactions; and capital provider as part of a successful variable rate transaction for a digital infrastructure company.Total Company debt reduction from September 30, 2024 to June 30, 2025 is estimated to be $600 million. As of June 30, 2025, estimated net debt (7) ranges from $809 million to $839 million and cash, cash equivalents and restricted cash of $268 million.Realized cash proceeds from business sales of approximately $187 million from the sales of GlassRatner and Atlantic Coast Recycling.Bond exchanges achieved approximately $126 million of debt reduction through five bond exchanges through July 2025.Secured $160 million senior facility with Oaktree Capital Management (\"Oaktree\"), which was paid down to $62.5 million along with an amendment to the senior facility to provide substantially increased flexibility.Earned approximate...