Cohen & Company Q1 net loss $7.6M; revenue negative $0.7M on SPAC mark-to-market losses

Cohen & Co Inc.

2022-Q1 EPS reported -$5.46 revenue$-682,000

Net loss attributable to Cohen & Company Inc. of $7.6M ($5.46 diluted EPS) vs net income $9.4M ($6.98) in Q1 2021.
Total revenues negative $0.7M driven by $18.4M negative principal transactions from SPAC mark-to-market adjustments.
Board declares quarterly dividend of $0.25 per share, payable June 3, 2022 to holders of record May 20, 2022.
Adjusted pre-tax loss of $5.8M ($4.14 per share) compared to adjusted pre-tax income of $37.6M ($7.52) in prior year quarter.
CEO cites unrealized mark-to-market losses on SPAC holdings; uncertainty in SPAC market may continue to impact results.

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