Associated Capital reports Q2 EPS 88c vs. 14c last year

Reports Q2 revenue $2.2M vs. $2.6M last year. Assets Under Management: $1.34B at June 30, 2025 compared to $1.27B at March 31, 2025; Book Value per share ended the quarter at $43.30 per share vs $42.51 at March 31, 2025. The company said, “Global M&A activity resumed its positive momentum in the second quarter after a brief air pocket for new deal activity in April when the Trump Administration surprised the market with tariffs that were substantially higher than the market had been expecting. Following a pause on the implementation of tariffs, and the negotiation of country-specific trade deals, the market regained a sense of confidence and clarity, particularly after Treasury Secretary Scott Bessent’s detente with China in Switzerland. As a result, dealmaking resumed its upward trajectory and powered second quarter M&A to over $1 trillion, an increase of 3% sequentially compared to the first quarter, which brought YTD activity to about $2 trillion, an increase of 33% compared to the same time period in 2024. A more accommodative antitrust environment and pent-up demand from acquirers should be supportive of ongoing M&A activity. Furthermore, recent regulatory shifts both in the U.S. and abroad should provide a more favorable environment for merger arbitrage investing.”