B. Riley reports Q4 net loss of $70M, dividend cut 50%, strategic review of Great American

BRC Group Holdings, Inc.

2023-FY EPS reported -$3.69 revenue$1,643,600,000

Q4 total revenues $347M (down 9% YoY); net loss $70M / $2.32 diluted loss per share.
FY2023 total revenues $1.65B (+52% YoY) but full-year net loss $86M includes $71M impairment charge.
Board cuts quarterly dividend to $0.50/share (50% reduction), payable March 22.
Will file late 10-K due to review of transactions with Brian Kahn; expects no material changes.
Retains Moelis & Company for strategic review of Great American Group appraisal/asset disposition businesses.

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 0.9

BRC Group Holdings, Inc. reported three months ended December 31, 2023 results: revenue $347 million, net income $70 million net loss, EPS $2.32 diluted loss per share.

Period: three months ended December 31, 2023
Revenue: $347 million
Net income: $70 million net loss
EPS: $2.32 diluted loss per share
Result: preliminary results

Exact text from the filing

Total revenues were $347 million compared to $382 million for the fourth quarter of 2022 ● Net loss available to common shareholders was $70 million, or $2.32 diluted loss per share

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

BRC Group Holdings, Inc. reported twelve months ended December 31, 2023 results: revenue $1.65 billion, net income $86 million net loss, EPS $2.95 diluted loss per share.

Period: twelve months ended December 31, 2023
Revenue: $1.65 billion
Net income: $86 million net loss
EPS: $2.95 diluted loss per share
Result: preliminary results

Exact text from the filing

quarter ● Operating adjusted EBITDA (3) of $79 million compared to $110 million in the prior year quarter Full year ended December 31, 2023: ● Total revenues increased 52% to $1.65 billion in 2023, up from $1.08 billion in 2022 ● Net loss of $86 million for the full year driven primarily by non-cash impairment charge of $71 million ● Operating revenues (2)

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BRC Group Holdings, Inc. filing history →

Source: SEC EDGAR

accession 0001213900-24-018490

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