Welcome to our dedicated page for BRC Group Holdings news (Ticker: RILY), a resource for investors and traders seeking the latest updates and insights on BRC Group Holdings stock.
BRC Group Holdings, Inc. (Nasdaq: RILY), formerly B. Riley Financial, Inc., regularly issues news and updates that reflect its role as a diversified holding company with financial services, telecom, retail, and investment activities. Its press releases cover developments across segments such as Capital Markets, Wealth Management, Communications, and Consumer Products, as well as group-level corporate actions.
News about BRC often highlights quarterly and annual financial results, including net income, revenues, segment performance, and non-GAAP measures such as Adjusted EBITDA, Operating Adjusted EBITDA, Investment Adjusted EBITDA, Operating Revenues, Investment Gains (Losses), Total Investments, and Net Debt. These updates may include commentary from management on segment trends, debt reduction, bond exchanges, and balance sheet initiatives.
Investors following RILY news can also expect announcements related to capital markets and investment banking activity at B. Riley Securities, such as equity and debt capital raises, carve-out transactions, and business updates on its investment banking, institutional brokerage, and research operations. Additional releases discuss wealth management developments at B. Riley Wealth, as well as performance of the Communications and Consumer Products segments.
Another recurring theme in BRC’s news flow is regulatory and listing matters, including communications about SEC filing timelines, Nasdaq notifications, and steps taken to regain or maintain timely reporting compliance. Corporate governance items, such as the appointment of auditors, proxy statements for the annual meeting, and executive compensation arrangements, also appear in company filings and related announcements.
For readers tracking RILY, this news page aggregates these company-issued updates, providing a single place to review recent earnings releases, segment highlights, capital structure developments, and key regulatory disclosures as reported by BRC Group Holdings, Inc.
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.
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.
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