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B. Riley Financial Forecasts Lower Operating Adjusted EBITDA For FY22

B. Riley Financial Inc (NASDAQ:RILY) said it expects fourth-quarter FY2022 operating adjusted EBITDA of $90 million – $100 million. For FY22,…
byShivani Kumaresan
December 27, 2022
1 minute read
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  • B. Riley Financial Inc (NASDAQ: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.
 
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