Welcome to our dedicated page for B. Riley Financial news (Ticker: RILY), a resource for investors and traders seeking the latest updates and insights on B. Riley Financial stock.
B. Riley Financial, Inc. (NASDAQ: RILY) provides integrated financial solutions across investment banking, wealth management, and corporate advisory services. This dedicated news hub aggregates all essential updates about the company's operations, strategic initiatives, and market position.
Investors and analysts will find timely information on earnings announcements, mergers & acquisitions, leadership changes, and strategic partnerships. The curated collection includes press releases, regulatory filings, and third-party analysis to support informed decision-making.
Key coverage areas include capital market activities, restructuring developments, wealth management expansions, and financial consulting projects. Regular updates ensure stakeholders maintain current awareness of RILY's cross-platform initiatives in North American and European markets.
Bookmark this page for convenient access to verified RILY updates. Combine real-time alerts with historical context to track the company's evolving financial strategies and industry impact.
B. Riley Securities has announced its 2023 Institutional Investor Conference scheduled for May 24-25 at The Beverly Hilton in Beverly Hills, California. The conference aims to bring together key executives from approximately 200 public and private companies, catering to over 1,000 attendees, including institutional investors and corporate clients. Key features include fireside chats, panel discussions, and one-on-one meetings, alongside a new private company track. Additionally, the conference will co-host the Big Fighters, Big Cause charity event benefiting childhood diabetes research. More information can be accessed here.
B. Riley Financial has announced cash dividends for its 6.875% Series A and 7.375% Series B Cumulative Perpetual Preferred Stock. The Series A dividend is set at $0.42968750 per depositary share and the Series B at $0.4609375, payable on January 31, 2023. Holders of record as of January 20, 2023 will receive these dividends, which reflect the company's commitment to rewarding shareholders while fortifying its financial position.
B. Riley Financial (NASDAQ: RILY) has announced its guidance for Q4 2022, estimating Operating Adjusted EBITDA between $90 million and $100 million, while the full year 2022 guidance ranges from $355 million to $365 million. However, the company anticipates investment losses between $125 million and $150 million for Q4, and $405 million to $430 million for the year. The Chairman emphasized that despite these losses, the company's diversified model has allowed for dividend payments and maintained liquidity for opportunities.
B. Riley Financial, one of the largest creditors of Core Scientific, is proposing a debt restructuring plan to avoid bankruptcy, which they believe would destruct value for all stakeholders. Following Core's significant share price drop (86% to $0.15), B. Riley suggests providing $72 million in new financing. This plan aims to stabilize the company and enhance liquidity. It includes restructuring terms that would allow Core to service its debts, particularly in light of fluctuating Bitcoin prices, which directly impact Core Scientific's financial health.
B. Riley Financial reported total revenues of $340.4 million for Q3 2022, down from $381.5 million in Q3 2021. Net income was $45.8 million, or $1.53 per diluted share, a decrease from $48.6 million or $1.69 per share year-over-year. However, Adjusted EBITDA rose to $141.4 million, compared to $114.1 million in the prior year. The company declared a quarterly dividend of $1.00 per share and approved a $50 million share repurchase plan. This performance highlights B. Riley's resilience and strategic investments despite challenging market conditions.
B. Riley Securities, a subsidiary of B. Riley Financial (NASDAQ: RILY), announced the addition of a nine-member team specializing in Healthcare and Life Sciences from Huron Transaction Advisory. Senior Managing Director James Metcalf and Managing Director Benjamin Matz lead the team, enhancing B. Riley's capabilities in healthcare investment banking. This strategic move aims to strengthen B. Riley's position in the healthcare deal-making space, reflecting a commitment to expanding their advisory services in a rapidly evolving market.
B. Riley Financial, Inc. (NASDAQ: RILY) is set to release its financial results for the third quarter ending September 30, 2022, after market close on November 3, 2022. The company will host an investor call at 4:30 p.m. ET to discuss these results, featuring Co-CEOs Bryant Riley and Tom Kelleher, along with CFO and COO Phillip Ahn. Investors can access the live broadcast and subsequent recording via the company’s investor relations website.
B. Riley Financial has acquired Targus, a leader in consumer and enterprise productivity products, for approximately $250 million. This transaction values Targus at about 5.2x Adjusted EBITDA based on its $415 million revenue for the trailing twelve months ending June 2022. The acquisition is financed through a mix of bank and seller financing, with significant capital allocated for shareholder dividends and repurchases. Targus's CEO, Mikel Williams, continues to lead the company, now as part of B. Riley's portfolio, enhancing the financial services firm's growth potential.
B. Riley Financial has announced the acquisition of a second portfolio of performing receivables from W.S. Badcock Corporation, part of Franchise Group. This purchase, valued at approximately $168 million, involves the acquisition of $198 million in receivables, financed through a $148 million senior secured term loan. The prior acquisition in December 2021 was valued at $535 million for around $400 million. The CEO stated that this investment enhances relationships and aims to generate strong returns for shareholders.
B. Riley Financial (NASDAQ: RILY) announced cash dividends for its preferred stock. The 6.875% Series A Preferred Stock will yield $0.42968750 per depositary share, while the 7.375% Series B Preferred Stock will provide $0.4609375 per depositary share. These dividends are set to be paid on or about October 31, 2022, to holders of record by the close of business on October 21, 2022. Each depositary share represents 1/1000th of a share with a liquidation preference of $25.00.
