What caused ALTI's earnings surprises in 2024?

AlTi Global Inc. (ALTI) experienced an earnings surprise of -$0.2 per share in 2024, with a net income of -$174.31 million for the fourth quarter (Q4) ending December 31, 2024. The company's earnings were negatively impacted by several factors: 1. **Strategic Review and Divestitures**: AlTi Global is in the process of reviewing its real estate co-investment and fund management businesses, which could lead to further asset runoff and uncertainty. This strategic review likely resulted in one-time costs or charges that affected the earnings in 2024. 2. **Goodwill and Intangible Asset Impairment**: The company recorded a significant impairment charge related to goodwill and intangible assets, which contributed to the net loss. This impairment was likely due to the reevaluation of the company's assets and liabilities, reflecting the current market conditions or operational changes. In summary, AlTi Global's earnings surprise in 2024 was primarily caused by strategic review and divestitures and goodwill and intangible asset impairment. |code|Ticker|Name|Date|Net Income|market_code| |---|---|---|---|---|---| |ALTI|ALTI.O|AlTi Global|2024 Q1|2.1745E7|186| |ALTI|ALTI.O|AlTi Global|2024 Q2|-8959000|186| |ALTI|ALTI.O|AlTi Global|2024 Q3|-1.11405E8|186| |ALTI|ALTI.O|AlTi Global|2024 Q4|-7.5686E7|186|