Associated Capital Group, Inc. Reports Estimated Full Year and Fourth Quarter Results
Associated Capital Group (AC) has released preliminary financial estimates for Q4 and the fiscal year ending December 31, 2020. The diluted EPS for Q4 is projected between $2.15 and $2.35, up from $0.48 in Q4 2019. For the full year, EPS is expected to be between $0.70 and $0.90, down from $1.74 in 2019. As of the end of 2020, AC's estimated book value is $40.15 to $40.45 per share, an increase from $39.88 a year earlier. Assets under management stand at $1.35 billion. Additional financial results will be disclosed in early February.
- Q4 diluted EPS projected to increase to between $2.15 and $2.35, compared to $0.48 in Q4 2019.
- Estimated book value per share rose to $40.15 - $40.45 from $39.88 a year ago.
- Assets under management reached $1.35 billion.
- Full year EPS is expected to decline to $0.70 - $0.90 from $1.74 in 2019.
Associated Capital Group, Inc. (“AC” or the “Company”) announced today a preliminary estimate of its financial results for the fourth quarter and year ended December 31, 2020.
Diluted EPS for the fourth quarter is expected to be within the range of
As of December 31, 2020, AC’s book value is estimated in the range of
Assets under management at December 31, 2020 were
We expect to issue additional information regarding our financial results in early February.
About Associated Capital Group, Inc.
Associated Capital Group, Inc. (NYSE:AC), based in Greenwich Connecticut, is a diversified global financial services company that provides alternative investment management through Gabelli & Company Investment Advisers, Inc. (“GCIA” f/k/a Gabelli Securities, Inc.). The proprietary capital is earmarked for our direct investment business that invests in new and existing businesses. The direct investment business is developing along three core pillars; Gabelli Private Equity Partners, LLC (“GPEP”), formed in August 2017 with
SPECIAL NOTE REGARDING FORWARD-LOOKING INFORMATION
The financial results set forth in this press release are preliminary. Our disclosure and analysis in this press release, which do not present historical information, contain “forward-looking statements” within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements convey our current expectations or forecasts of future events. You can identify these statements because they do not relate strictly to historical or current facts. They use words such as “anticipate,” “estimate,” “expect,” “project,” “intend,” “plan,” “believe,” and other words and terms of similar meaning. They also appear in any discussion of future operating or financial performance. In particular, these include statements relating to future actions, future performance of our products, expenses, the outcome of any legal proceedings, and financial results. Although we believe that we are basing our expectations and beliefs on reasonable assumptions within the bounds of what we currently know about our business and operations, the economy and other conditions, there can be no assurance that our actual results will not differ materially from what we expect or believe. Therefore, you should proceed with caution in relying on any of these forward-looking statements. They are neither statements of historical fact nor guarantees or assurances of future performance.
Forward-looking statements involve a number of known and unknown risks, uncertainties and other important factors, some of which are listed below, that are difficult to predict and could cause actual results and outcomes to differ materially from any future results or outcomes expressed or implied by such forward-looking statements. Some of the factors that could cause our actual results to differ from our expectations or beliefs include a decline in the securities markets that adversely affect our assets under management, negative performance of our products, the failure to perform as required under our investment management agreements, and a general downturn in the economy that negatively impacts our operations. We also direct your attention to the more specific discussions of these and other risks, uncertainties and other important factors contained in our Form 10 and other public filings. Other factors that could cause our actual results to differ may emerge from time to time, and it is not possible for us to predict all of them. We do not undertake to update publicly any forward-looking statements if we subsequently learn that we are unlikely to achieve our expectations whether as a result of new information, future developments or otherwise, except as may be required by law.
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