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What guidance did B. Riley Financial Pref A ADR's management provide for the next earnings period?

What were the key takeaways from B. Riley Financial Pref A ADR's earnings call?

Did B. Riley Financial Pref A ADR beat or miss consensus estimates last quarter?

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- **Strategic Restructuring**: Sold non-core assets to reduce debt by $221M, retaining equity upside in JV with Oaktree.
- **Core Growth Focus**: Reinvesting in middle market M&A (B. Riley Securities), stable wealth management ($15B AUM), and record advisory services.
- **Financial Health**: $257M cash, $1.78B debt, and Q4 net income $48-68M driven by JV sale proceeds.
- **Forward Momentum**: Broker-dealer EBITDA potential to recover to $72-84M/yr; no debt buybacks, focusing on organic growth.

**【CEO Strategic Initiatives】**
- **JV with Oaktree**: Sold majority stake in appraisal/valuation businesses for $203M cash + 44% equity, retaining upside in $2B Julian fabric liquidation. 
- **Debt Reduction**: Retired $221M debt via asset sales (e.g., $70M Atlantic Recycling sale) and new $160M Oaktree credit facility.
- **Core Business Focus**: Reinvesting in B. Riley Securities (middle market M&A), Wealth Management ($15B AUM), and GlassRatner (record 2024 performance).

**【CFO Financial Highlights】**
- Q4 2024: Net income $48-68M (incl. $236M from JV sale), EBITDA $12-14M from core ops.
- Cash: $257M (including $156M free cash), Debt: $1.78B (down $221M QoQ).
- 2025 baby bonds fully redeemed; $991M net debt post-cash.

**【Q&A Key Takeaways】**
- **Liquidity Plan**: Continue monetizing non-core assets (e.g., $30M Julian fabric investment) while investing in core businesses.
- **Core Business Outlook**: Broker-dealer EBITDA potential to return to $72-84M/yr levels; Wealth Management stable at $15B AUM.
- **Debt Management**: No open market buybacks; focus on organic growth to generate cash flow.

B. Riley Financial (RILY)-3 Mar 25-2024 Q4 Earnings call transcript

B. Riley Financial, Inc. - 6.50 (RILY)-12 Aug 24-2024 Q2 Earnings call transcript

B. Riley Financial (RILY)-15 May 24-2024 Q1 Earnings call transcript

B. Riley Financial (RILY)-29 Feb 24-2023 Q4 Earnings call transcript

B. Riley Financial (RILY)-8 Nov 23-2023 Q3 Earnings call transcript

B. Riley Financial (RILY)-9 Aug 23-2023 Q2 Earnings call transcript

B. Riley Financial (RILY)-4 May 23-2023 Q1 Earnings call transcript

B. Riley Financial (RILY)-22 Feb 23-2022 Q4 Earnings call transcript

B. Riley Financial (RILY)-4 Nov 22-2022 Q3 Earnings call transcript

B. Riley Financial (RILY)-29 Jul 22-2022 Q2 Earnings call transcript

B. Riley Financial (RILY)-28 Apr 22-2022 Q1 Earnings call transcript

B. Riley Financial (RILY)-24 Feb 22-2021 Q4 Earnings call transcript

B. Riley Financial (RILY)-29 Oct 21-2021 Q3 Earnings call transcript

B. Riley Financial (RILY)-31 Jul 21-2021 Q2 Earnings call transcript

B. Riley Financial (RILY)-4 May 21-2021 Q1 Earnings call transcript

B. Riley Financial (RILY)-27 Feb 21-2020 Q4 Earnings call transcript

B. Riley Financial (RILY)-31 Oct 20-2020 Q3 Earnings call transcript

B. Riley Financial (RILY)-31 Jul 20-2020 Q2 Earnings call transcript

B. Riley Financial (RILY)-12 May 20-2020 Q1 Earnings call transcript

B. Riley Financial (RILY)-3 Mar 20-2019 Q4 Earnings call transcript

B. Riley Financial (RILY)-30 Oct 19-2019 Q3 Earnings call transcript

B. Riley Financial (RILY)-4 Aug 19-2019 Q2 Earnings call transcript

B. Riley Financial (RILY)-5 May 19-2019 Q1 Earnings call transcript

B. Riley Financial (RILY)-5 Mar 19-2018 Q4 Earnings call transcript

B. Riley Financial (RILY)-5 Nov 18-2018 Q3 Earnings call transcript

B. Riley Financial (RILY)-4 Aug 18-2018 Q2 Earnings call transcript

B. Riley Financial (RILY)-7 May 18-2018 Q1 Earnings call transcript

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