Cohen & Company Reports 2024 Financial Results

Cohen & Company ( (COHN) ) has released its Q4 earnings. Here is a breakdown of the information Cohen & Company presented to its investors.

Cohen & Company Inc. is a financial services firm that specializes in capital markets and asset management services, operating primarily through its subsidiaries in the United States and Europe. The company reported its financial results for the fourth quarter and full year of 2024, highlighting a challenging period with a net loss attributable to the company of $2.0 million for the fourth quarter, compared to a net income of $2.2 million in the previous quarter. Full-year results showed a slight improvement with a net loss of $129,000 compared to a loss of $5.1 million in 2023.

The company’s revenues for the fourth quarter were $18.5 million, a decline from $31.7 million in the previous quarter and $34.5 million in the same quarter of the previous year. This decrease was mainly due to a drop in new issue and advisory revenue, which fell by $12.4 million from the prior quarter. However, net trading revenue increased by $1.1 million from the previous year, driven by higher trading revenue from the mortgage group.

Cohen & Company’s asset management revenue saw a slight increase from the previous year, while principal transactions and other revenue experienced a significant decline. The company also reported a decrease in compensation and benefits expenses, reflecting a reduction in the number of employees. Despite these challenges, the company maintained its quarterly dividend of $0.25 per share, indicating a commitment to providing value to its shareholders.

Looking ahead, Cohen & Company remains focused on expanding its market share and enhancing long-term value for its stockholders. The management expressed confidence in the company’s future earnings potential, despite the ongoing challenges in the financial markets.