Earnings Releases·Nov 5, 2026, 4:07 PM ET

BRC Group Holdings, Inc. — Third Quarter 2026 Earnings Summary

Total revenues for the quarter were $33.0 million, a significant decline from $277.9 million in the prior year period, driven by a $226.7 million pre-tax loss on the Babcock & Wilcox investment and lower underwriting revenues; the company reported a net loss of $(243.0) million for the quarter compared to net income of $89.1 million previously.
The company executed major capital return and balance sheet actions, including the sale of GA Group for $62.3 million to repay debt and add liquidity, the redemption of $238.1 million in senior notes year-to-date, and a 10% decline in net debt to $562.3 million.
Strategic M&A activity includes a definitive agreement to acquire Sangoma Technologies for $203.7 million, expected to close by early 2027, and the restoration of 100% ownership of B. Riley Securities Holdings in October 2026.
Operating segments showed mixed results with the Communications Business Group generating $13.2 million in income and Wealth Management reporting $29.8 million in year-to-date income, while the Capital Markets segment incurred a $120.0 million loss primarily due to trading losses.
Management highlighted resilience in operating businesses and a focus on near-term cash flow opportunities despite a challenging market environment characterized by rising rates and wider credit spreads.