Associated Capital Group, Inc. Reports Earnings Results for the Second Quarter and Six Months Ended June 30, 2023
August 09, 2023 at 05:32 pm
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Associated Capital Group, Inc. reported earnings results for the second quarter and six months ended June 30, 2023. For the second quarter, the company reported revenue was USD 2.38 million compared to USD 2.55 million a year ago. Net income was USD 3.37 million compared to net loss of USD 29.89 million a year ago. Basic earnings per share from continuing operations was USD 0.15 compared to basic loss per share from continuing operations of USD 1.36 a year ago. Diluted earnings per share from continuing operations was USD 0.15 compared to diluted loss per share from continuing operations of USD 1.36 a year ago.
For the six months, revenue was USD 4.85 million compared to USD 5.13 million a year ago. Net income was USD 21.13 million compared to net loss of USD 46.07 million a year ago. Basic earnings per share from continuing operations was USD 0.96 compared to basic loss per share from continuing operations of USD 2.09 a year ago. Diluted earnings per share from continuing operations was USD 0.96 compared to diluted loss per share from continuing operations of USD 2.09 a year ago.
Associated Capital Group, Inc. is a diversified global financial services company. The Company provides alternative investment management services and operates a direct investment business that invests in businesses that fit its criteria over time. The Company conducts its investment management activities through its wholly owned subsidiary Gabelli & Company Investment Advisers, Inc. (GCIA) and its wholly owned subsidiary, Gabelli & Partners, LLC (Gabelli & Partners). GCIA and Gabelli & Partners together serve as general partners or investment managers to investment funds, including limited partnerships and offshore companies (collectively, Investment Partnerships), and separate accounts. It primarily manages assets across a range of risk and event arbitrage portfolios and in equity event-driven value strategies. It serves a variety of investors globally, including private wealth management clients, corporations, corporate pension and profit-sharing plans, foundations and endowments.