Welcome to our dedicated page for Great Elm Group news (Ticker: GEG), a resource for investors and traders seeking the latest updates and insights on Great Elm Group stock.
Great Elm Group, Inc. (NASDAQ: GEG) operates as a holding company with a focus on building a diversified portfolio of long-duration, permanent capital vehicles. The company's core operations span across corporate credit, specialty finance, real estate, and other alternative asset classes. Great Elm Group's segmentation is centered on investment management, conducted by an experienced team with over 100 years of combined experience in funding leveraged middle market companies.
Great Elm Group's pioneering investment vehicle is Great Elm Capital Corp. (GECC), a business development company, which exemplifies the firm's strategic approach to capital deployment. The investment team at Great Elm Capital Management has a rich history of managing substantial investments, having deployed over $17 billion into credit investments across more than 550 issuers in 20+ jurisdictions over a 14-year period under Mast Capital Management, LLC.
In addition to GECC, Great Elm Group manages Monomoy Properties REIT, LLC, an industrial-focused real estate investment trust. The company continues to expand its portfolio, focusing on long-term growth and scalability. Recent initiatives highlight the company's commitment to maintaining a strong financial condition and expanding its investment reach.
Latest updates include announcements for their upcoming conference calls and webcasts where they will discuss fiscal year performance and financial results. These events are key opportunities for investors and stakeholders to gain insights into the company's operations and future prospects.
For more information, please visit the official website www.greatelmgroup.com. Investors can also reach out through the provided contact details for media and investor relations queries.
Great Elm Group (GEG) reported a consolidated revenue of $18.6 million for Q1 FY2023, reflecting a 12% increase from $16.5 million in Q1 FY2022. However, it posted a net loss of $8.5 million, contrasting with a net income of $0.1 million in the previous year, largely due to higher investment losses and the absence of prior government stimulus benefits. Adjusted EBITDA fell to $2.7 million, down from $4.3 million. Notably, Investment Management revenue surged 89% to $1.9 million, while Durable Medical Equipment revenue rose 7% to $16.7 million. GEG's strong NOL carryforwards stand at approximately $821 million.
Great Elm Group, Inc. (GEG) plans to release its fiscal 2023 first quarter results, ending September 30, 2022, on November 14, 2022, after market close. The company will host a conference call on November 15, 2022, at 9:00 a.m. ET to discuss these results. Interested parties can participate by calling designated numbers or joining the webcast. Great Elm operates in investment management and other sectors, highlighting its dual business model. Details and slide presentations will be available online for investors.
Great Elm Group (GEG) reported financial results for its fiscal year ended June 30, 2022, highlighting a net loss of $15 million, worsening from last year's $8.5 million. Despite a strategic investment of $15 million into Monomoy Properties REIT and increased revenues, the company saw a decline in government stimulus benefits of $2.3 million. Adjusted EBITDA for its DME segment showed a 37% increase to $13.8 million, but overall losses were impacted by mark-to-market losses. GEG maintains a strong liquidity position with over $23 million in cash.
Great Elm Group, Inc. (NASDAQ: GEG) announced it will release its fiscal 2022 fourth quarter and full-year results on September 12, 2022, post-market closure. A conference call and webcast will follow on September 13, 2022, at 9:00 AM ET to discuss these results. Interested participants can join via phone, with specific dialing instructions provided. Great Elm operates in investment management and operating companies sectors.
Great Elm Group, Inc. (NASDAQ: GEG) announced the appointment of Nichole Milz as the new Chief Operating Officer. With over 20 years of experience, including 16 years at Magnetar Capital, Milz will oversee operations to foster growth in GEG's investment management business. Executive Chairman Jason Reese expressed confidence in Milz's veteran experience to support the firm's diversification across asset classes. Milz's previous roles include serving as Deputy COO and ESG Officer at Magnetar and treasurer for alternative energy SPACs.
Great Elm Group, Inc. (NASDAQ: GEG) has announced the pricing of a public offering of $25,000,000 in 7.25% unsecured notes maturing on June 30, 2027. After fees, the net proceeds will be approximately $24,200,000. The notes can be redeemed starting June 30, 2024, and underwriters have a 30-day option for an additional $3,750,000. The funds will be used for investments in Monomoy Properties REIT, LLC, and general corporate purposes. The offering is expected to close on June 9, 2022, and the notes will be listed on Nasdaq under the symbol “GEGGL.”
Great Elm Group, Inc. (NASDAQ: GEG) has launched an underwritten public offering of unsecured notes due 2027, expected to trade under the symbol “GEGGL.” The interest rate and additional terms will be determined through negotiations with underwriters. Proceeds from the offering will be utilized for investments in Monomoy Properties REIT, LLC and for general corporate purposes, including refinancing subsidiary debts. The joint book-running managers for this offering include Oppenheimer & Co. Inc. and B. Riley Securities, among others.
Great Elm Group, Inc. (NASDAQ: GEG) announced the appointment of David Matter as a new Director, following the resignation of Peter Reed from the Board of Directors. Matter brings extensive experience in investment management, having served as Managing Director at BlackRock. Executive Chairman Jason Reese emphasized that Matter's expertise will be vital as GEG focuses on growing its assets under management. Reed will continue to serve as CEO, ensuring leadership continuity.
Great Elm Group (GEG), a diversified holding company, reported fiscal Q3 2022 results showing consolidated revenue of $16.6 million, up from $13.8 million year-over-year. However, net loss from continuing operations widened to $6.1 million from $2.8 million. The company's investment management segment saw revenue increase by 35.7% to $1.0 million, but net loss expanded to $4.0 million. Durable Medical Equipment (DME) revenue rose 19.2% to $15.6 million amidst ongoing supply chain challenges, yet net loss increased to $6.6 million. The company aims to grow through acquisitions, including $10 million for Monomoy REIT management agreements.
Great Elm Group (GEG) announced a strategic acquisition that enhances its investment management segment, acquiring the management agreement for Monomoy Properties REIT for $10 million. The deal, approved by disinterested directors, includes a $15 million initial investment and an intention to invest an additional $15 million over the next year. This acquisition more than doubles GEG's assets under management (AUM) to over $572 million, leveraging GEG's tax attributes for growth. The transaction is seen as transformative, aligning with GEG's strategy to generate attractive long-duration capital returns.
FAQ
What is the current stock price of Great Elm Group (GEG)?
What is the market cap of Great Elm Group (GEG)?
What does Great Elm Group, Inc. do?
What is Great Elm Capital Corp. (GECC)?
Who leads the investment team at Great Elm Group?
What is Monomoy Properties REIT, LLC?
How much has the Great Elm Capital Management team invested historically?
Where can I find more information about Great Elm Group, Inc.?
How can I contact Great Elm Group for investor relations?
When is the next Great Elm Group conference call?
What focus areas does Great Elm Group invest in?
What is the financial condition of Great Elm Group, Inc.?
