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.

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