B. Riley delays Q3 report, warns of loss from Franchise bankruptcy By Reuters
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Nov 13 2024
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Source: Investing.com
B. Riley Financial's Financial Troubles: The bank has warned of a significant third-quarter loss between $130 million and $135 million, primarily due to a decline in the valuation of its investment in Franchise Group, which recently filed for bankruptcy.
Delayed Earnings Report: B. Riley is postponing its earnings report as it finalizes valuations and has not yet filed its June quarter report; its shares have dropped 77% this year, and the bank expects total losses, including discontinued operations, to reach up to $300 million.
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About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
