RILY - B. Riley Financial issues preliminary Q2 numbers commences $100M stock offering

July, 25 2023 04:33 PM B. Riley Financial Inc.

2023-07-25 16:33:58 ET

B. Riley Financial ( NASDAQ: RILY ) on Tuesday announced preliminary Q2 results and guidance for Q3, along with a stock offering of up to $100M.
Shares of the financial services platform were unchanged at $57.72 after hours.
RILY sees Q2 earning per share to be in the range of $1.48 to $1.55 on revenue of $405M to $407M.
"We are seeing positive trends across our businesses. Capital markets and retail liquidation activity is steadily increasing as a function of market tailwinds in our historically episodic segments," RILY co-CEO Bryant Riley said in a statement .
"Investment banking during the month of July has already exceeded our results for all of the second quarter," Riley added, and said that the company was on track to deliver Q3 operating adj. EBITDA of at least $105M.
RILY separately said it had commenced a public stock offering of up to $100M. Riley and co-CEO Tom Kelleher have indicated an interest to buy up to $4.5M of shares in the offering at the public offering price.

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