B. Riley Financial, Inc. Provides Earnings Guidance for the Fourth Quarter and Full Year Ended December 31, 2018 and Full Year Ending December 31, 2019
January 30, 2019 at 03:35 am IST
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B. Riley Financial, Inc. provided earnings guidance for the fourth quarter and full year ended December 31, 2018 and full year ending December 31, 2019. For the fourth quarter, the company expects to report adjusted EBITDA in the range of $11.1 million to $12.1 million and net loss in the range of $8.2 million to $8.9 million. Net loss includes approximately $6.4 million of restructuring charges primarily related to severance and the rebrand of B. Riley Wealth Management. Strong operating results were offset by mark-to-market losses of approximately 16 million in the Company’s investment account during the quarter.
For the full year of 2018, the company expects to report adjusted EBITDA in the range of $89.5 million to $90.5 million and net income in the range of $15.4 million to $16.1 million. Results for 2018 include approximately $8.6 million of restructuring charges.
For the full year of 2019, the company forecasts 2019 adjusted EBITDA to be in the range of $115 million to $135 million and net income in the range of $39 million to $45 million.
B. Riley Financial, Inc. operates a diversified financial services platform. Its Capital Markets segment provides investment banking and institutional brokerage services, fund and asset management services, and direct lending services. Its Wealth Management segment provides retail brokerage, investment management, and insurance and tax preparation services. Its Financial Consulting segment provides a variety of specialized advisory services spanning bankruptcy, restructuring, forensic accounting, crisis and litigation support, appraisal and valuation, real estate, and operations management. Its Auction and Liquidation provide retail liquidation services to help clients dispose of under-performing assets and generate cash from excess inventory. Its communications portfolio of companies consists of related businesses that it has acquired for attractive risk-adjusted investment return characteristics. Its Consumer Products segment is comprised of Targus, which is a multinational company.
B. Riley Financial, Inc. Provides Earnings Guidance for the Fourth Quarter and Full Year Ended December 31, 2018 and Full Year Ending December 31, 2019
B. RILEY FINANCIAL, INC. 
