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.
On October 4, 2022, GA Europe, part of B. Riley Financial (NASDAQ: RILY), announced its collaboration with CM Sports GmbH to revitalize RENO, a prominent German shoe chain. This partnership involves realigning RENO's store footprint and restocking inventory. RENO operates around 290 locations across Germany, Austria, and Switzerland. GA Europe has purchased inventory and other assets to facilitate a sale of existing stock, paving the way for new merchandise. CM Sports will manage RENO's operations and plans to re-open stores with fresh offerings soon.
B. Riley Wealth has welcomed Jay Murphy as a Senior Managing Director of Investments. Murphy, with over 40 years of experience, is tasked with serving high-net-worth clients. His hiring aligns with the firm's recent relocation to Boston's financial district at 10 Post Office Square. The firm manages over $25 billion in assets and boasts a team of around 500 financial advisors.
Murphy's prior experience includes positions at Deutsche Bank and Credit Suisse, enhancing B. Riley's expanding wealth management platform.
B. Riley Securities will host its 2nd Annual Crypto Conference on September 29, 2022 in New York. The event aims to connect institutional investors with leading companies in the digital asset space, including blockchain infrastructure and decentralized finance. Attendees will benefit from fireside chats and one-on-one meetings with executives from various firms. B. Riley is recognized as a major underwriter for crypto-related businesses, having raised hundreds of millions since 2021. This invitation-only event emphasizes the firm's commitment to serving stakeholders in the evolving crypto economy.
B. Riley Financial announced that its portfolio company, Lingo Management, has acquired BullsEye Telecom. This acquisition, part of B. Riley's strategy to enhance revenue diversification, follows Lingo's earlier increase of ownership interest to 80% in May 2022. BullsEye is recognized for its communications and cloud technology services, benefiting Lingo's existing solutions for small and medium-sized businesses. The financial terms of the transaction were not disclosed, but it is expected to generate recurring revenue and stabilize EBITDA for B. Riley.
B. Riley Financial reported Q2 2022 results with GAAP revenues of $42.7 million and operating revenues of $266.6 million. The company faced a net loss of ($142.2 million), resulting in a diluted EPS of ($5.07). Despite challenges, the firm declared a quarterly dividend of $1.00 per share. Operating adjusted EBITDA was $74.2 million, indicating resilience from non-cyclical segments. The investment portfolio has generated returns exceeding the Russell 2000 Index, showcasing potential growth in a volatile market.
B. Riley Financial (NASDAQ: RILY) is set to release its financial results for Q2 2022 on July 28, 2022, after market close. An investor call will follow at 4:30 p.m. ET, featuring insights from Co-CEOs Bryant Riley and Tom Kelleher, alongside CFO Phillip Ahn. Investors can access the live broadcast and a recorded version through the company's investor relations website.
This earnings call provides an opportunity for stakeholders to understand the company's performance during the quarter.
FaZe Clan Inc. completed its business combination with B. Riley Principal 150 Merger Corp. (BRPM) on July 19, 2022. This merger allows FaZe to trade on NASDAQ under the ticker 'FAZE' starting July 20, 2022. FaZe Clan, a leader in youth culture and gaming, has a following of about 500 million across social platforms and operates 11 esports teams that collectively won 35 championships. This public listing enables FaZe to access capital for future growth while engaging with a key demographic of 13-34 year-olds, enhancing its market influence in digital entertainment and youth culture.
B. Riley Principal 150 Merger Corp. (Nasdaq: BRPM, BRPMU) announced stockholder approval for its business combination with FaZe Clan Inc., a lifestyle and media platform focused on gaming. The merger is set to close on July 19, 2022, after which the company will be renamed FaZe Holdings Inc. Shares are expected to trade under the new tickers FAZE and FAZEW starting July 20, 2022. The deal aims to leverage FaZe Clan's extensive social media reach, targeting the youth market with its diverse content and partnerships.
B. Riley Financial, Inc. (NASDAQ: RILY) 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 share, while the Series B dividend is $0.4609375 per share. These dividends are scheduled for payment on or about July 29, 2022, to shareholders on record as of July 19, 2022. This financial move indicates the company's commitment to returning value to its preferred stockholders.
B. Riley Financial announced the appointment of Timothy J. Shilling as Executive Vice President of B. Riley Retail Solutions. Shilling brings over two decades of experience in leading retail liquidations and advising prominent retailers. He will support the firm's strategy amidst challenges like rising interest rates and supply chain issues affecting the retail sector. Notably, he has overseen retail inventory assignments valued over $10 billion. Shilling aims to leverage B. Riley's diverse platform to assist clients in navigating the evolving retail landscape.
