Brc Group RILY Q4 2024 Earnings Transcript

Motley Fool Transcribing, The Motley Fool

Tue, April 21, 2026 astatine 12:32 PM CDT 20 min read

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Monday, March 3, 2025 astatine 4:30 p.m. ET

• Chairman and Co-Chief Executive Officer — Bryant Riley

• Chief Financial Officer — Phillip Ahn

Bryant Riley: Thank you, and bully afternoon, everyone, connected today's call. We admit everyone joining us. I privation to commencement by expressing my appreciation for your patience, arsenic we enactment towards becoming existent with our financials and regain NASDAQ Listing Compliance. And portion we inactive request to finalize our 4th fourth results and record our Annual Report for 2024, we wanted to supply investors with a little update arsenic to wherever things presently basal and our priorities for the year.

Given the important fig of strategical initiatives we've undertaken, including respective transactions, we thought it would beryllium adjuvant to commencement with a recap of the actions we've taken since the commencement of the 4th fourth and an overview of wherever our concern is today. The communal thread crossed each of these actions is our responsiveness to the challenges created by definite main investments. These losses person been recognized, and portion determination is inactive enactment to do, we are moving guardant with a stronger equilibrium expanse and capableness to reinvest successful our halfway businesses. Let maine interaction connected a fewer notable developments. First, we established a associated task with Oaktree Capital Management for large American Group.

Under the presumption of this transaction, we contributed each of the involvement connected B. Riley's appraisal and valuation services, retail, wholesale and concern solutions and existent property advisory businesses to a caller holding company. At closing, B. Riley received full information consisting of astir $203 cardinal successful currency positive ownership involvement amounting to astir 44% of the company. In effect, we sold a bulk involvement successful these businesses, which provided important superior to meaningfully delever our equilibrium sheet, portion inactive retaining important equity upside successful a concern with compelling maturation prospects. Critical to our reasoning with this transaction is determination are present 2 firms with the vested involvement successful seeing that GA volition proceed to thrive.

We judge Oaktree's standard and expertise and alternate investments and the spot of a superior provider, combined with the GA Group's starring presumption arsenic a supplier of plus disposition, fiscal advisory and existent property advisory services volition beryllium complementary arsenic we articulation forces to present fiscal products and services to amended service our clients. We've already seen the benefits of this concern with past week's palmy bid and a competitory bankruptcy process to negociate the liquidation of each 800-plus JOANN cloth and trade stores. This liquidation, which includes astir $2 cardinal successful retail inventory represents 1 of the largest transactions successful GA Group's 40-year history.