BUZZ-B Riley extends losses after delay in Q2 results, loss forecast
Shares of B Riley Financial (RILY) fell 3.2% in early trading, marking a third consecutive session of losses. The investment bank announced a delay in filing its quarterly report and anticipates a net loss of $8 million to $10 million for Q2, compared to a net profit of $4.4 million a year ago. The company's results were impacted by non-cash losses linked to its investment in Franchise Group, which owns Vitamin Shoppe. Year-to-date, RILY shares are down approximately 67%.
Shares of investment bank B Riley Financial (RILY.O) down 3.2% to $6.99 in early trade, on track for third straight session of loss
Co said late on Monday it would not be able to file its quarterly report by the required date
Shares halved on Monday and fell a further 11.41% on Tuesday after co said it expects a net loss between $435 mln-$475 mln for the quarter ended June 30
It posted a net profit available to common shareholders of $44.4 mln in the year-ago period
Results were impacted by non-cash losses chiefly related to its investment in Vitamin Shoppe parent Franchise Group
Including session’s moves, RILY down ~67% YTD
