Great Elm Group Inc Stock Price, News & Analysis

Great Elm Group, Inc. (NASDAQ: GEG) has announced its Annual Stockholders’ Meeting, scheduled for November 17, 2021. The proxy statement detailing the meeting will be available by the first week of October for stockholders of record as of September 30, 2021. This meeting is part of the company's ongoing efforts to engage with its investors and discuss future business strategies.

Great Elm Group operates in two primary areas: investment management and operating companies.

Great Elm Group (GEG) reported its fiscal 2021 fourth quarter and annual financial results, revealing a consolidated revenue of $16.3 million for the quarter and $60.9 million for the year, compared to $14.7 million and $59.0 million respectively in the prior year. The net loss for the quarter was $1.4 million, down from a net income of $4.1 million the previous year. The Durable Medical Equipment (DME) segment saw revenue increase to $57.6 million, while Investment Management (IM) reported net income of $2.7 million. GEG continues to streamline operations and reduce debt, boasting $952 million in net operating loss carryforwards.

Great Elm Group, Inc. (NASDAQ: GEG) announced its fiscal 2021 fourth quarter results will be released on September 20, 2021, after market close. A conference call and webcast are scheduled for September 21, 2021, at 8:30 a.m. ET to discuss these results. Participants can join by calling +1 (844) 559-0750 or through the webcast available on their website. Great Elm operates in investment management and operating companies, reflecting its dual vertical strategy.

Great Elm Group, Inc. (NASDAQ: GEG) has sold its entire ownership interest in two Class A office buildings in Fort Myers, Florida for $4.6 million to an affiliate of Monomoy Properties, LLC. The sale, which enhances GEG's capitalization by eliminating associated debt, allows for improved operating and leverage ratios. GEG previously acquired the properties for $2.7 million in March 2018. The proceeds from this sale will be reinvested into Monomoy's diversified industrial properties REIT portfolio, offering greater cash flow and liquidity through ongoing dividend payments.

Great Elm Group (GEG) announced its fiscal 2021 third-quarter results, reporting consolidated revenue of $15.1 million, down from $16.2 million. The consolidated net loss improved to $2.9 million from $11.9 million year-over-year, while Adjusted EBITDA rose to $3.6 million from $2.6 million. Key developments included the acquisition of AMPM and signs of business recovery in Durable Medical Equipment (DME) operations despite a revenue decline. Investment Management (IM) reported a net loss of $0.3 million. GEG remains optimistic about future growth opportunities.

Great Elm Group, Inc. (NASDAQ: GEG) will release its fiscal 2021 third quarter results for the period ending March 31, 2021, on May 14, 2021, before market opening. A conference call and webcast will follow at 4:30 p.m. ET on the same day to discuss these financial results. Interested participants can join the call via phone or through a live webcast. Great Elm is focused on investment management and operating companies, positioning itself for future growth. For more details, please refer to the company’s website.

Great Elm Group, Inc. (NASDAQ: GEG) announced its Annual Stockholders’ Meeting is scheduled for May 28, 2021. The proxy statement detailing the meeting will be available by the third week of April for stockholders of record as of April 5, 2021. Great Elm Group operates in investment management and operating companies, aiming to build a diversified business model.

Great Elm Group (GEG) announced a strategic agreement with MAST Capital Management to simplify its capital structure. GEG will issue $2.25 million in 5% Convertible Senior PIK Notes due 2030 to MAST, which will settle existing obligations and relinquish MAST's board appointment rights. This transaction allows GEG to enhance its ownership of GP Corp to over 90%. CEO Peter A. Reed expressed that these moves benefit GEG by acquiring GP Corp notes at a discount and increasing potential future profits for shareholders.

Great Elm Group has expanded its operating footprint in the Midwest by acquiring Advanced Medical DME and PM Sleep Lab, adding over 2,500 patients and nine locations in Kansas and Missouri. The combined entities reported approximately $5 million in pro forma unaudited revenues in 2020. This acquisition allows Great Elm to enhance its service offerings, including potential ventilator and oxygen services, while aiming for operational efficiencies and cost savings.