Preliminary Q4 2024 B Riley Financial Inc Earnings Call Transcript

Mar 3, 2025 / 09:30 PM GMT

Transcript 8-K

Key Points

Positve

B. Riley Financial Inc (RILY) established a joint venture with Oak Tree Capital Management, providing substantial capital and retaining significant equity upside.
The company successfully managed the liquidation of Jo-Ann fabric and craft stores, representing one of the largest transactions in GA Group's history.
B. Riley Financial Inc (RILY) received approximately $236 million in gross proceeds through the financing of brand assets.
The company completed the full redemption of its February 2025 senior notes, retiring its only significant 2025 maturity.
B. Riley Financial Inc (RILY) announced the sale of Atlantic Coast Recycling for approximately $70 million, expecting to report a gain of about $30 million.

Negative

B. Riley Financial Inc (RILY) reported a net loss from continuing operations of $178 million to $187 million, impacted by impairment charges and trading losses.
The company recognized significant losses in its principal investment portfolio.
There is uncertainty regarding the filing of the 10K, with a potential need for a 15-day extension.
B. Riley Financial Inc (RILY) has a substantial amount of debt, with total debt of $1.78 billion as of December 2024.
The company does not have the ability to buy back debt under the new credit agreement with Oaktree.

Refinitiv StreetEvents Event Transcript
E D I T E D V E R S I O N

RILY.OQ - B Riley Financial Inc
Preliminary Q4 2024 B Riley Financial Inc Earnings Call
Mar 03, 2025 / 09:30PM GMT

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Presentation
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Unidentified_1 [1]
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Good morning and welcome to the BR Reilly Financial Preliminary 4th quarter earnings result conference call. My name is Tom, and I will be your call coordinator. Earlier today, BR Reilly issued a press release announcing our preliminary results for the 4th quarter of 2024, which can be found on its investor relations website at ir.belyfin.com. Today's call includes prepared remarks from the company followed by a question and answer session.

Joining us today from B. Riley are Bryant Riley, Chairman, co-founder and co-CEO Tom Kelleher, co-founder and co-CEO, and Philip Ann, CFO and COO.

As a reminder, this call is being recorded, and an audio replay will be available on the company's investor relations

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