BRC Group Holdings, Inc. - Depositary Shares, each representing a 1/1000th fractional interest in a share of Series A Cumulative Perpetual Preferred Stock (RILYP) Earnings
BRC Group Holdings, Inc. - Depositary Shares, each representing a 1/1000th fractional interest in a share of Series A Cumulative Perpetual Preferred Stock is expected to report next earnings on July 23, 2026 (in NaN days).
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| May 7, 2026 | — | $6.62 | — | $451M | — |
| Sep 19, 2025 | — | $0.09 | — | $216M | — |
| Nov 15, 2024 | — | $-9.32 | — | $199M | — |
| May 15, 2024 | — | $-1.64 | — | $343M | — |
| Feb 29, 2024 | — | $-2.46 | — | $462M | — |
| Mar 15, 2023 | — | $-2.22 | — | $382M | — |
| Nov 4, 2022 | — | $1.60 | — | $340M | — |
| Jul 29, 2022 | — | $-5.00 | — | $43M | — |
| Apr 29, 2022 | — | $-0.33 | — | $206M | — |
| Feb 25, 2022 | — | $2.33 | — | $422M | — |
| Jul 30, 2021 | — | $2.74 | — | $337M | — |
| May 7, 2021 | — | $9.24 | — | $600M | — |
Source: company filings + earnings calendar. For informational purposes only — not investment advice.
Earnings call summary
Q4 FY2024 · March 3, 2025
AI summary of management’s prepared remarks and analyst Q&A. For informational purposes only — not investment advice.
Management highlights
- Established joint venture with Oaktree for Great American Group, contributing certain businesses and receiving cash and ownership interest. - Received ~$236M gross proceeds from financing brand assets. - Signed agreement to sell part of W-2 Wealth Management to Stifel, expect transaction to close early Q2 2025 with ~$26M cash consideration (subject to change). - Completed full redemption of February 2025 senior notes. - Announced new $160M senior secured credit facility with Oaktree. - Sold Atlantic Coast Recycling for ~$70M in cash proceeds, expecting ~$30M gain in Q1. - Focus on core businesses: B. Riley Securities, B. Riley Wealth, and advisory services (GlassRatner). - Bryant Riley communicated to Board he no longer proposes to take B. Riley Financial private, citing potential in business and debt structure complications.
Guidance
- Preliminary Q4 results: Net income available to common shareholders $48M-$68M (includes ~$236M-$247M from discontinued ops). Diluted net income per share $1.57-$2.22. Net loss from continuing operations $178M-$187M. Operating adjusted EBITDA $12M-$14M. - As of Dec 31, 2024: Cash, cash equivalents, restricted cash ~$257M; total debt $1.78B; total debt net of cash and investments ~$991M (down $221M from Q3). - Deadline for filing 10-K is March 17, 2025; if unable, will file Form 12b-25 for 15-day extension.
Segment performance
B. Riley Securities: Uniquely positioned as top middle market provider with ~180 employees, ended December strong. B. Riley Wealth: Post-Stifel transaction, retains ~170 independent advisers and 81 W-2 advisers with ~$15 billion in client assets. Advisory services (GlassRatner): Performed well in 2024, consistent growth in specialized industry. Great American Group: Joint venture with Oaktree, received ~$203M cash and 44% ownership, participated in JOANN liquidation. Telecom segment: Provides steady cash flow and EBITDA. Revenue contribution details not explicitly given in terms of percentages, but each segment is highlighted as part of the core business.
Risks & headwinds
- Risks described in periodic filings with SEC, including factors that could cause actual results to differ from forward-looking statements, such as risks related to business operations, debt maturities, and market conditions.
Analyst Q&A
Q: Can you give us a sense of what you intend to accomplish in the next six months to beef up liquidity and the balance sheet?
A: Focus is on investing in core businesses (BRS, Wealth, Advisory) and being opportunistic with asset monetization, with key focus on growing the business.
Q: Can you talk a little bit about your core business on a run rate basis or EBITDA/FCF positive for next quarter or full year 2025?
A: Core operating portfolio has potential, with BRS, Wealth, and Advisory having historical EBITDA, but specific numbers not provided, emphasizing focus on growing core businesses.
Q: You have an asset-rich balance sheet. Can you talk about the value of businesses like GlassRatner and telecom?
A: Focus is on investing in and growing operating businesses, not speculating on multiples, but core businesses are profitable and have a strong base.
Q: Do you guys have the ability to buy back debt under the new credit agreement?
A: No, the senior facility does not allow buying bonds in the open market.
Q: What does the wealth management business look like now?
A: After transactions, remaining wealth management group has ~$15 billion in assets under management, down from ~$24 billion before sales and attrition.
Q: Is most further asset monetization coming from the Principal Investment Group?
A: Focus on monetizing non-core assets selectively and thoughtfully, with focus on growing core businesses and managing debt maturities.