B. Riley Financial (RILY) Reports Q4 EPS of $6.87

February 25, 2021 5:29 PM EST

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B. Riley Financial (NASDAQ: RILY) reported Q4 EPS of $6.87, versus $0.83 reported last year. Revenue for the quarter came in at $410.2 million, versus $165.2 million reported last year.

Fourth Quarter 2020 Financial Highlights

  • Record quarterly total revenues of $410.2 million vs. $165.2 million for Q4 2019
  • Record investment banking results driven by increased activity and larger transactions
  • Net income of $170.1 million vs. $16.9 million, EPS of $6.55 vs. $0.59 per diluted share
  • Operating revenues of $270.0 million vs. $130.5 million, Operating EBITDA of $126.8 million vs. $16.4 million
  • Q4 total adjusted EBITDA of $260.5 million vs. $50.3 million

Bryant Riley, Chairman and Co-Chief Executive Officer of B. Riley Financial, said: "Given the strength and performance of both our episodic and steady recurring businesses, we are increasingly confident in the earnings power of our platform. The increase in our regular quarterly dividend to $0.50 reflects the continued growth of our recurring businesses, namely our brands, advisory, and principal investments; and our special $3.00 dividend reflects the strength of our episodic businesses, including brokerage and retail liquidation. While these businesses tend to be cyclical, we believe issuing a special dividend allows us to maintain flexibility. As we continue to see extremely attractive uses for our capital, we also believe it is important to reward our shareholders with the cash flow that we generate. We feel strongly that a balanced capital allocation policy includes substantial dividends to our partners."

"Our results demonstrated increased profitability from all of our businesses, and particularly our brokerage. Investment banking delivered an impressive quarter driven not only by an acceleration in capital markets activity, but also from an increased number of larger transactions and significant retail restructuring assignments. In addition, SPAC activity contributed strong earnings, while our at-the-market (ATM) business saw another record quarter," continued Riley.

Tom Kelleher, Co-Chief Executive Officer of B. Riley Financial, added: "During the quarter, we also made further enhancements to our platform with the addition of a venture capital business, an operations management vertical, and our investment in the Justice brand. Our growth has enabled us to deliver greater value to our clients and partners and to attract talent to our platform."

"As we continue to invest in strategically scaling service offerings that complement core capabilities, our acquisition of National Holdings meaningfully enhances both steady and episodic results and further solidifies our small-cap capital markets leadership. While B. Riley's momentum has never been stronger, we will remain focused on delivering for our clients and partners as we continue to capitalize on the opportunities ahead," said Riley.

For earnings history and earnings-related data on B. Riley Financial (RILY) click here.

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