B. Riley Financial Stock Earnings Reports

B. Riley (BRC Group) reported a strong start to 2026 with net income available to common shareholders of $211.3 million and adjusted EBITDA of $262.2 million. Operating adjusted EBITDA improved ~40% sequentially. The company materially reduced leverage (net debt down to $372 million, a ~$255 million reduction from year-end) via a March redemption of senior notes, bond-for-equity exchanges and buybacks. Trading gains—primarily a large fair-value increase in Babcock & Wilcox—drove a significant portion of revenue growth. Capital markets activity was robust: B. Riley Securities executed nearly $10 billion of client debt and equity raises in the quarter, filed $8.7 billion of new ATMs, and initiated coverage on 26 companies. Management announced plans to repurchase the minority stake in B. Riley Securities and combine it with B. Riley Wealth to simplify structure, improve alignment and capture synergies. Operationally, subsidiaries (notably Targus) are stabilizing, the Communications Business Group showed continued operating leverage, and the firm is deploying AI to scale research and sales productivity. Liquidity remains adequate (cash ~$178 million), though two senior note series remain maturing later in 2026 and will be addressed through continued capital actions. Management emphasized a disciplined, opportunistic approach to monetizing investments, allocating capital (including debt paydowns, buybacks and reinvestment), and returning the organization to a normalized operating cadence after prior delinquencies.