Cohen & Company Q3 net loss $0.4M; records $6.8M investment write-down; maintains dividend

Cohen & Co Inc.

2023-Q3 EPS reported -$6.40 revenue$48,517,000

Net loss attributable to Cohen of $0.4M ($0.28 per diluted share) for Q3 2023, vs. $6.6M loss in Q2 2023 and $0.9M loss in Q3 2022.
Total revenues $17.1M, down from $22.6M in Q2 and $23.5M in prior year; new issue and advisory rev. $7.2M, up $5.9M QoQ.
Adjusted pre-tax loss of $8.4M ($1.52 per share) vs. prior quarter loss $1.6M and prior year income $2.2M.
Principal transactions revenue includes $6.8M write-down of investment in Stoa USA Inc./FlipOS due to its ceasing operations.
Board declares $0.25 quarterly dividend, payable Dec 1, 2023 to holders of record Nov 17, 2023.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

Cohen & Co Inc. reported third quarter ended September 30, 2023 results: revenue $17.1 million, net income $0.4 million, or $0.28 per diluted share, EPS $(0.28).

Period: third quarter ended September 30, 2023
Revenue: $17.1 million
Net income: $0.4 million, or $0.28 per diluted share
EPS: $(0.28)
Result: reported results

Exact text from the filing

September 30, 2022. Adjusted pre-tax income (loss) and adjusted pre-tax income (loss) per diluted share are not measures recognized under GAAP. See Note 1 below. · Revenues were $17.1 million for the three months ended September 30, 2023, compared to $22.6 million for the prior quarter and $23.5 million for the prior year quarter. o Net trading revenue was $7.5

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Source: SEC EDGAR

accession 0001104659-23-113607

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