B. Riley Financial Forecasts Lower Operating Adjusted EBITDA For FY22

by Shivani Kumaresan, Benzinga Staff Writer

December 27, 2022 9:06 AM | 1 min read

B. Riley Financial Inc RILY said it expects fourth-quarter FY2022 operating adjusted EBITDA of $90 million - $100 million.
For FY22, it sees an operating adjusted EBITDA of $355 million - $365 million versus $422.0 million reported in FY21.
The company's guidance for operating Adjusted EBITDA includes contributions from Targus since its acquisition on October 19, 2022.
B. Riley also estimates Q4 investment losses of $(125) million - $(150) million and $(405) million) - $(430) million for FY22.
The company noted the estimated mark-to-market investment losses reflect continued softness in small-cap markets.
The company expects total cash and investments to be approximately $2.15 billion at 2022-end, with a debt of $2.5 billion.
Price Action: RILY shares closed lower by 4.13% at $31.88 on Friday.

Posted In: News Guidance Small Cap General Briefs

Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.