Cohen & company reports third quarter 2024 financial results
Philadelphia and new york, nov. 04, 2024 (globe newswire) -- cohen & company inc. (nyse american: cohn), a financial services firm specializing in an expanding range of capital markets and asset management services, today reported financial results for its third quarter ended september 30, 2024. summary operating results three months ended nine months ended ($ in thousands) 9/30/24 6/30/24 9/30/23 9/30/24 9/30/23 net trading $ 8,816 $ 8,798 $ 7,491 $ 27,462 $ 23,117 asset management 2,147 2,078 1,788 6,942 5,418 new issue and advisory 22,459 6,500 7,247 53,347 9,542 principal transactions and other revenue (1,727 ) (6,578 ) 595 (26,694 ) 10,440 total revenues 31,695 10,798 17,121 61,057 48,517 compensation and benefits 17,915 10,699 15,219 43,453 35,757 non-compensation operating expenses 6,558 6,466 6,006 20,124 17,348 operating income (loss) 7,222 (6,367 ) (4,104 ) (2,520 ) (4,588 ) interest expense, net (1,256 ) (1,425 ) (1,685 ) (4,347 ) (4,907 ) income (loss) from equity method affiliates (683 ) (5,996 ) (702 ) 22,366 (1,608 ) income (loss) before income tax expense (benefit) 5,283 (13,788 ) (6,491 ) 15,499 (11,103 ) income tax expense (benefit) 142 (205 ) (755 ) 435 5,379 net income (loss) 5,141 (13,583 ) (5,736 ) 15,064 (16,482 ) less: net income (loss) attributable to the non-convertible non-controlling interest (2,455 ) (5,206 ) 1,936 8,609 8,536 enterprise net income (loss) 7,596 (8,377 ) (7,672 ) 6,455 (25,018 ) less: net income (loss) attributable to the convertible non-controlling interest 5,446 (6,028 ) (7,249 ) 4,631 (15,357 ) net income (loss) attributable to cohen & company inc. $ 2,150 $ (2,349 ) $ (423 ) $ 1,824 $ (9,661 ) fully diluted net income (loss) per share $ 1.31 $ (1.47 ) $ (0.28 ) $ 1.12 $ (6.40 ) (1) adjusted pre-tax income (loss) is not a measure recognized under u.s. generally accepted accounting principles (“gaap”).
