Associated Capital Group (AC) Reports Prelim. 4Q & FY18 EPS Results

Associated Capital Group, Inc. (NYSE: AC) announced a preliminary estimate of its financial results for the fourth quarter and year ended December 31, 2018.

Diluted EPS for the fourth quarter is expected to be within the range of $(1.68) to $(1.78) compared to $0.67 for the fourth quarter of 2017, based primarily on the mark-to-market decline of our investment portfolio. Full year EPS is expected to be within the range of $(2.42) to $(2.52) compared to $0.37 for 2017.

The fourth quarter and full year 2018 estimated results include a preliminary estimate of the income tax benefit related to the utilization of current losses. The Company’s analysis of its ability to record this benefit under current accounting guidance, which is based on what it believes to be reasonable estimates, is ongoing. The receipt of additional information and changes in the Company’s assumptions may require that this benefit be adjusted, and the adjustment, if any, may be material to our fourth quarter and full year results.

We expect to issue additional information regarding our financial results in February.

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