Cohen & company reports fourth quarter & full year 2024 financial results
Philadelphia and new york, march 10, 2025 (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 fourth quarter and full year ended december 31, 2024. summary operating results three months ended twelve months ended ($ in thousands) 12/31/24 9/30/24 12/31/23 12/31/24 12/31/23 net trading $ 8,947 $ 8,816 $ 7,809 $ 36,409 $ 30,926 asset management 2,067 2,147 1,919 9,009 7,337 new issue and advisory 10,075 22,459 18,722 63,422 28,264 principal transactions and other revenue (2,548 ) (1,727 ) 6,014 (29,242 ) 16,454 total revenues 18,541 31,695 34,464 79,598 82,981 compensation and benefits 12,935 17,915 16,335 56,388 52,092 non-compensation operating expenses 11,109 6,558 6,680 31,233 24,028 operating income (loss) (5,503 ) 7,222 11,449 (8,023 ) 6,861 interest expense, net (1,474 ) (1,256 ) (1,619 ) (5,821 ) (6,526 ) income (loss) from equity method affiliates (662 ) (683 ) 17,217 21,704 15,609 income (loss) before income tax expense (benefit) (7,639 ) 5,283 27,047 7,860 15,944 income tax expense (benefit) (764 ) 142 166 (329 ) 5,545 net income (loss) (6,875 ) 5,141 26,881 8,189 10,399 less: net income (loss) attributable to the non-convertible non-controlling interest 66 (2,455 ) 11,054 8,675 19,590 enterprise net income (loss) (6,941 ) 7,596 15,827 (486 ) (9,191 ) less: net income (loss) attributable to the convertible non-controlling interest (4,988 ) 5,446 11,279 (357 ) (4,078 ) net income (loss) attributable to cohen & company inc. $ (1,953 ) $ 2,150 $ 4,548 $ (129 ) $ (5,113 ) fully diluted net income (loss) per share $ (1.21 ) $ 1.31 $ 2.97 $ (0.08 ) $ (3.38 ) adjusted pre-tax income (loss) (1) $ (7,705 ) $ 7,738 $ 15,993 $ (815 ) $ (3,646 ) fully diluted adjusted pre-tax income (loss) per share $ (1.32 ) $ 1.34 $ 2.88 $ (0.14 ) $ (0.66 ) (1) adjusted pre-tax income (loss) is not a measure recognized under u.s. generally accepted accounting principles (“gaap”).
