B. Riley Financial Q1 net loss $51M; declares $0.50 dividend

BRC Group Holdings, Inc.

2024-Q1 EPS reported -$1.71 revenue$343,032,000

Net loss available to common shareholders of $51M vs net income of $15M in Q1 2023; diluted EPS loss of $1.71.
Total revenues $343M, down 21% YoY; operating revenues (non-GAAP) $379M vs $389M.
Operating adjusted EBITDA $66M vs $88M; included $59M investment-related losses and $7M investigation costs.
Declared quarterly dividend of $0.50/share, payable June 11, 2024 to holders of record May 27, 2024.
Retired $115M of 6.75% 2024 Senior Notes; cash and investments $1.61B; total debt $2.19B.

item 2.02 item 7.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.97

BRC Group Holdings, Inc. reported three-month period ended March 31, 2024 results: revenue $343 million, net income Net loss available to common shareholders of $51 million, EPS $(1.71) per common share.

Period: three-month period ended March 31, 2024
Revenue: $343 million
Net income: Net loss available to common shareholders of $51 million
EPS: $(1.71) per common share
Result: reported results

Exact text from the filing

31, 2024. First Quarter 2024 Summary ● Net loss available to common shareholders of $51 million primarily driven by non-cash, unrealized investment losses ● Total revenues of $343 million vs $432 million for the first quarter of 2023 ● Operating revenues (3) of $379 million vs $389 million ● Operating adjusted EBITDA (4)(5) of $66 million vs $88 million ● Total

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Source: SEC EDGAR

accession 0001213900-24-043607

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