Latest news with #Siebert
Business Wire
13-05-2025
- Business
- Business Wire
Siebert Reports First Quarter 2025 Financial Results
MIAMI--(BUSINESS WIRE)-- Siebert Financial Corp. (NASDAQ: SIEB) ('Siebert'), a diversified provider of financial services, today reported financial results for the first quarter ended March 31, 2025. First Quarter 2025 Financial and Operational Highlights* Total revenue increased 41% to $28.9 million, compared to $20.5 million in the first quarter of 2024, primarily driven by an unrealized gain of $9.2 million related to an equity investment. The unrealized gain was recorded with respect to shares in a U.S private company that Siebert purchased prior to the issuer's initial public offering, which shares were revalued following the initial public offering. These shares are currently subject to resale restrictions, and due to market volatility, including a significant decrease in price subsequent to March 31, 2025, and uncertainty around registration timing, the investment's fair value may significantly impact future financial results. Operating income increased 106% to $10.5 million, compared to $5.1 million in the first quarter of 2024, primarily driven by the unrealized gain from the equity investment. Stock borrow / stock loan increased by 18% to $4.8 million, compared to $4.1 million in the first quarter of 2024. Net income available to common stockholders increased 135% to $8.7 million, compared to $3.7 million in the first quarter of 2024, primarily driven by the unrealized gain from the equity investment. Recent Business Highlights Appointed Stefano Marrone as Chief Marketing Officer to oversee marketing for all divisions and drive initiatives that bridge entertainment and financial literacy for our clients. Appointed industry veteran Fredrick Scuteri as Chief Operating Officer of Muriel Siebert & Co., LLC ('MSCO') to oversee day-to-day operations, trading infrastructure, and platform modernization. Management Commentary* 'The first quarter of 2025 was marked by continued investment in talent and our emerging business lines,' said Chairman and CEO John J. Gebbia. This quarter reflects disciplined execution of our broader strategic vision, and we're encouraged by the early signs of value being created through our investments in talent and innovation-driven initiatives. We are also excited to welcome industry veterans, Stefano Marrone as CMO and Fredrick Scuteri as COO of MSCO, to the Siebert family as they bring a wealth of experience and add significant value to our strategic initiatives for 2025 and beyond.' Andrew Reich, CFO of Siebert, added: 'We continue to invest in our personnel and technology to be able to grow and scale our businesses while supporting new business lines. While our results for the quarter also benefited from a $9.2 million unrealized gain tied to a strategic equity investment, the value of this investment remains subject to market conditions and timing of liquidity. Overall, these results underscore our strong positioning to drive long-term value for clients and shareholders.' *Refer to Siebert's 2025 Q1 10Q, Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations for further detail about the results of the quarter including the unrealized gain related to the equity investment. Notice to Investors This communication is provided for informational purposes only and is neither an offer to sell nor a solicitation of an offer to buy any securities in the United States or elsewhere. About Siebert Financial Corp. Siebert is a diversified financial services company and has been a member of the NYSE since 1967 when Muriel Siebert became the first woman to own a seat on the NYSE and the first to head one of its member firms. Siebert operates through its subsidiaries Muriel Siebert & Co., LLC, Siebert AdvisorNXT, LLC, Park Wilshire Companies, Inc., RISE Financial Services, LLC, Siebert Technologies, LLC, StockCross Digital Solutions, Ltd, and Gebbia Media LLC. Through these entities, Siebert provides a full range of brokerage and financial advisory services including securities brokerage, investment advisory and insurance offerings, securities lending, and corporate stock plan administration solutions. Gebbia Media LLC provides entertainment and media productions including in-house marketing and advertising services for Siebert. For over 55 years, Siebert has been a company that values its clients, shareholders, and employees. More information is available at Cautionary Note Regarding Forward-Looking Statements The statements contained in this press release, that are not historical facts, including statements about our beliefs and expectations, are 'forward-looking statements' within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements include statements preceded by, followed by or that include the words 'may,' 'could,' 'would,' 'should,' 'believe,' 'expect,' 'anticipate,' 'plan,' 'estimate,' 'target,' 'project,' 'intend' and similar words or expressions. In addition, any statements that refer to expectations, projections, or other characterizations of future events or circumstances are forward-looking statements. These forward-looking statements, which reflect beliefs, objectives, and expectations as of the date hereof, are based on the best judgment of management of Siebert. All forward-looking statements speak only as of the date on which they are made. Such forward-looking statements are subject to certain risks, uncertainties and assumptions relating to factors that could cause actual results to differ materially from those anticipated in such statements, including, without limitation, the following: economic, social and political conditions, global economic downturns, including those resulting from extraordinary events; changes and volatility in tariffs and trade policies; securities industry risks; interest rate risks; liquidity risks; credit risk with clients and counterparties; risk of liability for errors in clearing functions; systemic risk; systems failures, delays and capacity constraints; network security risks; competition; reliance on external service providers; new laws and regulations affecting Siebert's business; net capital requirements; extensive regulation, regulatory uncertainties and legal matters; failure to maintain relationships with employees, customers, business partners or governmental entities; the inability to achieve synergies or to implement integration plans; and other consequences associated with risks and uncertainties detailed in Part I, Item 1A - Risk Factors of Siebert's Annual Report on Form 10-K for the year ended December 31, 2024, and Siebert's filings with the SEC. Siebert cautions that the foregoing list of factors is not exclusive, and new factors may emerge, or changes to the foregoing factors may occur, that could impact its business. Siebert undertakes no obligation to publicly update or revise these statements, whether because of new information, future events or otherwise, except to the extent required by the federal securities laws.
Yahoo
13-05-2025
- Business
- Yahoo
Siebert Reports First Quarter 2025 Financial Results
MIAMI, May 13, 2025--(BUSINESS WIRE)--Siebert Financial Corp. (NASDAQ: SIEB) ("Siebert"), a diversified provider of financial services, today reported financial results for the first quarter ended March 31, 2025. First Quarter 2025 Financial and Operational Highlights* Total revenue increased 41% to $28.9 million, compared to $20.5 million in the first quarter of 2024, primarily driven by an unrealized gain of $9.2 million related to an equity investment. The unrealized gain was recorded with respect to shares in a U.S private company that Siebert purchased prior to the issuer's initial public offering, which shares were revalued following the initial public offering. These shares are currently subject to resale restrictions, and due to market volatility, including a significant decrease in price subsequent to March 31, 2025, and uncertainty around registration timing, the investment's fair value may significantly impact future financial results. Operating income increased 106% to $10.5 million, compared to $5.1 million in the first quarter of 2024, primarily driven by the unrealized gain from the equity investment. Stock borrow / stock loan increased by 18% to $4.8 million, compared to $4.1 million in the first quarter of 2024. Net income available to common stockholders increased 135% to $8.7 million, compared to $3.7 million in the first quarter of 2024, primarily driven by the unrealized gain from the equity investment. Recent Business Highlights Appointed Stefano Marrone as Chief Marketing Officer to oversee marketing for all divisions and drive initiatives that bridge entertainment and financial literacy for our clients. Appointed industry veteran Fredrick Scuteri as Chief Operating Officer of Muriel Siebert & Co., LLC ("MSCO") to oversee day-to-day operations, trading infrastructure, and platform modernization. Management Commentary* "The first quarter of 2025 was marked by continued investment in talent and our emerging business lines," said Chairman and CEO John J. Gebbia. This quarter reflects disciplined execution of our broader strategic vision, and we're encouraged by the early signs of value being created through our investments in talent and innovation-driven initiatives. We are also excited to welcome industry veterans, Stefano Marrone as CMO and Fredrick Scuteri as COO of MSCO, to the Siebert family as they bring a wealth of experience and add significant value to our strategic initiatives for 2025 and beyond." Andrew Reich, CFO of Siebert, added: "We continue to invest in our personnel and technology to be able to grow and scale our businesses while supporting new business lines. While our results for the quarter also benefited from a $9.2 million unrealized gain tied to a strategic equity investment, the value of this investment remains subject to market conditions and timing of liquidity. Overall, these results underscore our strong positioning to drive long-term value for clients and shareholders." *Refer to Siebert's 2025 Q1 10Q, Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations for further detail about the results of the quarter including the unrealized gain related to the equity investment. Notice to Investors This communication is provided for informational purposes only and is neither an offer to sell nor a solicitation of an offer to buy any securities in the United States or elsewhere. About Siebert Financial Corp. Siebert is a diversified financial services company and has been a member of the NYSE since 1967 when Muriel Siebert became the first woman to own a seat on the NYSE and the first to head one of its member firms. Siebert operates through its subsidiaries Muriel Siebert & Co., LLC, Siebert AdvisorNXT, LLC, Park Wilshire Companies, Inc., RISE Financial Services, LLC, Siebert Technologies, LLC, StockCross Digital Solutions, Ltd, and Gebbia Media LLC. Through these entities, Siebert provides a full range of brokerage and financial advisory services including securities brokerage, investment advisory and insurance offerings, securities lending, and corporate stock plan administration solutions. Gebbia Media LLC provides entertainment and media productions including in-house marketing and advertising services for Siebert. For over 55 years, Siebert has been a company that values its clients, shareholders, and employees. More information is available at Cautionary Note Regarding Forward-Looking Statements The statements contained in this press release, that are not historical facts, including statements about our beliefs and expectations, are "forward-looking statements" within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements include statements preceded by, followed by or that include the words "may," "could," "would," "should," "believe," "expect," "anticipate," "plan," "estimate," "target," "project," "intend" and similar words or expressions. In addition, any statements that refer to expectations, projections, or other characterizations of future events or circumstances are forward-looking statements. These forward-looking statements, which reflect beliefs, objectives, and expectations as of the date hereof, are based on the best judgment of management of Siebert. All forward-looking statements speak only as of the date on which they are made. Such forward-looking statements are subject to certain risks, uncertainties and assumptions relating to factors that could cause actual results to differ materially from those anticipated in such statements, including, without limitation, the following: economic, social and political conditions, global economic downturns, including those resulting from extraordinary events; changes and volatility in tariffs and trade policies; securities industry risks; interest rate risks; liquidity risks; credit risk with clients and counterparties; risk of liability for errors in clearing functions; systemic risk; systems failures, delays and capacity constraints; network security risks; competition; reliance on external service providers; new laws and regulations affecting Siebert's business; net capital requirements; extensive regulation, regulatory uncertainties and legal matters; failure to maintain relationships with employees, customers, business partners or governmental entities; the inability to achieve synergies or to implement integration plans; and other consequences associated with risks and uncertainties detailed in Part I, Item 1A - Risk Factors of Siebert's Annual Report on Form 10-K for the year ended December 31, 2024, and Siebert's filings with the SEC. Siebert cautions that the foregoing list of factors is not exclusive, and new factors may emerge, or changes to the foregoing factors may occur, that could impact its business. Siebert undertakes no obligation to publicly update or revise these statements, whether because of new information, future events or otherwise, except to the extent required by the federal securities laws. View source version on Contacts Investor Relations: Matt Glover and Clay LioliosGateway Group, Inc. 949-574-3860 SIEB@ Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
NZ Herald
09-05-2025
- Business
- NZ Herald
NZ avocado industry eyes North America, Asia for export growth
Siebert said that in the upcoming 2025-26 season, volumes will need to be redirected to a more diverse marketplace, with many exporters exploring opportunities in North America and Asia. Siebert said this shift in market focus is likely to result in increased harvest volumes much earlier in the season. About 50% to 60% of the New Zealand avocado crop is exported, primarily to Australia, with the balance supplied to the domestic market, including local supermarkets. Siebert said key Asian markets, including South Korea, Japan and Thailand, are also integral to the industry's growth. 'A revised export strategy aims to better align supply with market demand, ensuring higher returns for growers and reducing pressure on the domestic market during peak export periods.' After some tough recent seasons, Siebert said a dry summer had likely supported a very good-quality season. 'Dry periods can restrict fruit size, so we will have to wait and see if fruit sizes are delayed for the 2025-26 season.' Picking complete Siebert said picking was chiefly completed last month, with new season fruit expected in June. This is predicted to result in a crop of around 6.2 million trays, down from the 7.2 million trays harvested in the previous season. 'Yet with an anticipated improved pack out, estimated export volumes will likely match the highs of last season.' He said the avocado industry, like all other agriculture sectors, has challenges with extreme weather events. 'Over the last couple of years, there's been a number of cyclones, which downgrade fruit, making it unavailable to meet our export standards. 'These disrupted seasons impact the domestic market, often our second-biggest value and volume market, with an oversupply and reduced returns to growers.' Advertise with NZME. Siebert said growers should carry out soil and leaf testing now and make final adjustments to soil nutrients before soil temperatures drop too much. Phosphonate application to protect from phytophthora (root rot) is important at this time of year, he said. Pruning is also vital to maintain sunlight on parts of the tree that growers want to be productive. 'Building carbohydrate reserves through winter is critical to support fruit set in spring.' Environment Avocado trees enjoy warm, frost-free environments, with temperatures ideally between 12C and 28C. NZ Avocado represents 1500 growers across the Far North, Mid-North, and Bay of Plenty. 'Most of our 1500-plus growers and orchards are small operations,' Siebert said. 'Only 12% have more than 5ha. 'Although we do have some much larger orchards, there's a very long tail of lifestyle growers with an average orchard size across our industry of about 3.5ha.' Siebert said around 50% of avocado hectares in production were in the Bay of Plenty, and around 45% in the Northland region. Orchards in the Far North tend to be a bit larger than those elsewhere in the country. NZ Avocado supports growers by focusing on research, government advocacy, export systems and domestic marketing initiatives. While the organisation does not sell or market avocados directly, Siebert said it played a crucial role in optimising grower returns and ensuring levy contributions are well-utilised.
Yahoo
08-05-2025
- Sport
- Yahoo
Man United vs Athletic Bilbao referee confirmed as Ruben Amorim good omen emerges
-Credit:PA UEFA have confirmed that Daniel Siebert will referee Manchester United's Europa League semi-final second leg against Athletic Club. Assistant referees Jan Seidel and Rafael Foltyn will work alongside the man in the middle at Old Trafford, with Tobias Stieler fourth official. Christian Dingert is the appointed video assistant referee, with Soeren Storks the assistant video assistant referee to complete an all-German officiating team. It will be the second United match Siebert has refereed during his decade as a FIFA-listed official. The first time was two years ago, again in the Europa League against La Liga opposition and at Old Trafford. READ MORE: Man United told they have one of the world's best players - and it isn't Bruno Fernandes READ MORE: Manchester United's exciting wonderkid signs first professional contract Siebert officiated the round of 16 first leg against Real Betis, which United won 4-1. Marcus Rashford opened the scoring after a counterattack inside six minutes, only for the former Newcastle United and Southampton forwards Ayoze Perez and Juanmi to combine for an equaliser just after the half-hour mark. Antony, though, put United back in front early in the second half, assisted by Bruno Fernandes. The latter then scored six minutes after heading in a Luke Shaw corner. Wout Weghorst later added a fourth to give Erik ten Hag's team a commanding first-leg lead. As for Siebert, he showed only two yellow cards, one to Weghorst for dissent between the second and third United goals, then another to Fernandes following a foul ten minutes after his goal. Athletic have never previously had him referee one of their matches. However, when officiating on Spanish sides overall, they have won on just six of 18 occasions across various UEFA competitions, drawing five and losing seven. English sides, meanwhile, have a much better record - they have won ten of the 15 times Siebert has been the referee, drawing four and losing just once. That one defeat, though, was in November. It, infamously, was when Ruben Amorim's Sporting CP won 4-1 against Manchester City in the Champions League, days after being appointed as United's new head coach. Siebert awarded three penalties in the second half of that match, two of which Viktor Gyokeres scored on either side of a miss from Erling Haaland. --- Here at The Manchester Evening News, we are dedicated to bringing you the best Manchester United coverage and analysis. Make sure you don't miss out on the latest United news by joining our free WhatsApp group. You can get all the breaking news and best analysis sent straight to your phone by clicking here to subscribe. You can also subscribe to our free newsletter service. Click here to be sent all the day's biggest stories. And, finally, if you would rather listen to our expert analysis then make sure to check out our Manchester is Red podcast, featuring The Samuel Luckhurst Show and The Midweek Debate. Our shows are available on all podcast platforms, including Spotify and Apple Podcasts, and you can also watch along on YouTube.
Business Times
28-04-2025
- Business
- Business Times
Trump promised a markets boom; 100 days in, stocks have only seen damage
DONALD Trump promised Americans a 'boom like no other' if they elected him president. But based on the stock market's performance during his first 100 days in office, it depends on what you mean by 'boom'. The action certainly has been explosive – just not in the way investors were hoping. By Apr 30, Trump will have closed out his first 100 days in office. Despite last week's rally, the S&P 500 Index is down about 8 per cent since his inauguration and on track for its worst run during a president's first 100 days since Gerald Ford in 1974, following Richard Nixon's resignation. It's a U-turn few on Wall Street saw coming after two straight years of over 20 per cent gains and what was expected to be a pro-growth agenda. Instead, markets swung wildly as Trump slapped tariffs on basically every country where US companies operate – and then suspended some, carved out exceptions for certain industries, and ratcheted up the trade war with China. The disruptions, combined with the administration's aggressive push to deport undocumented workers and its mass firings of federal employees, unnerved investors and sent the S&P 500 spinning into its seventh-fastest correction since 1929. 'It was an extreme, for-the-textbooks, systematic risk in its purest form,' said Mark Malek, chief investment officer at Siebert. 'The volatility has been wholly different from anything we have experienced in the past, and it indiscriminately spread through all sectors and asset classes like a wildfire, constantly being fuelled by random sound bites and shifting policy moves.' Traders went all in on the America First bet immediately after Trump's election victory last November, sending the S&P 500 to its best post-election gain ever. The thinking was the administration would loosen regulations and lower taxes, which would boost growth. But the president has instead focused on his tariff fight, sending markets spinning with each new announcement of levies on trade partners. BT in your inbox Start and end each day with the latest news stories and analyses delivered straight to your inbox. Sign Up Sign Up 'What he was elected for was 'Make America Great Again', the 'economy will be booming',' said Eric Diton, president and managing director at The Wealth Alliance. 'But all the trade uncertainty has actually detracted from economic growth.' Whiplash after whiplash The S&P 500 lost more than 10 per cent in two sessions earlier this month after Trump imposed the steepest US tariffs in a century on Apr 2. It then soared a week later when the administration reversed direction and delayed most of the duties for 90 days. Stocks have bounced around since then, but traders have struggled to find a direction. 'It was whiplash after whiplash after whiplash,' said Dave Lutz, macro strategist at JonesTrading and a 30-year Wall Street veteran. And Wall Street is bracing for more. Speculators just widened their net-short position on S&P 500 futures to the highest since December, according to the latest Commodity Futures Trading Commission data released on Friday (Apr 25). The declines in equities since Trump's inauguration on Jan 20 have been led by the consumer discretionary and information technology sectors, with footwear company Deckers Outdoor, semiconductor equipment manufacturer Teradyne and speciality chemicals producer Albemarle among the biggest losers. Other companies with struggling share prices include Elon Musk's electric-vehicle maker Tesla, United Airlines, Delta Air Lines and Norwegian Cruise Line. Consumer goods makers and the chip industry are grappling with the risk of higher costs from new tariffs, while travel companies are expected to feel the pinch as consumers tighten their purse strings if the economy starts struggling. 'There is irreparable damage done,' Malek said. 'Trend and momentum are extremely important in the stock market and they really reflect investor sentiment. Unfortunately these things are very hard to turn back around when they go down so fast.' Equity positioning remains near the bottom of its historical range, according to data from Deutsche Bank, whose strategists last week threw in the towel on predictions for a large advance in the S&P 500 this year. Meanwhile, Bank of America strategists warned on Friday that the conditions for a sustained stock market rebound are missing and encouraged investors to sell into the most recent rebound in US equities and the dollar. Foreign investors already got the memo and have been dumping American shares since the start of March, according to Goldman Sachs. Cloud of uncertainty There's one word money managers use to sum up Trump's trade plans and their impact on the stock market: uncertainty. 'We still don't know what it is that we are trying to achieve with Vietnam, or Canada, or Europe, and we have no idea what success looks like,' said Paul Nolte, market strategist and senior wealth manager at Murphy & Sylvest Wealth Management. This lack of clarity has prompted investors to turn defensive, wary of headfakes and preferring to wait on the sidelines until there are more concrete policy details. But that's not the only risk. 'We need to get past this cloud of trade policy uncertainty as it's holding back businesses from capital expenditures and hiring plans and may also dampen consumer spending,' said Eric Sterner, chief investment officer at Apollon Wealth Management. A tariff-induced slowdown in economic activity, and the higher costs associated with it, will crimp earnings growth, according to David Lefkowitz, head of US equities at UBS' global wealth management arm. He expects profits for S&P 500 companies to be flat this year. The first-quarter earnings season is showing how corporate America is equally in the dark. Companies are withdrawing guidance, lowering earnings outlooks and resorting to unusual solutions to manage the swings. For example, United Airlines issued two sets of profit forecasts, one if everything stays stable and the other if the economy falls into a recession. 'If you look at recessions, they are started by corporations, when they stop hiring people, then start firing people, then stop spending money,' said Siebert's Malek. He's looking for opportunities in high quality growth stocks that have been beaten down, but added that he's buying cautiously. The latest Bloomberg survey of economists showed that forecasters anticipate the trade war to hit economic growth this year and next, as prices rise and consumer spending takes a hit. Jim Worden, chief investment officer of Wealth Consulting Group, is looking at healthcare, financials and consumer staples shares, as well as stocks that have been unnecessarily crushed in the sell-off. Meanwhile, James Abate, head of fundamental strategies at Horizon Investments, said the firm is picking up regional banks stocks. This is 'a bad environment for index participation, but potentially an opportunity for active managers to prove their mettle', he said. Still, Wall Street is approaching the stock market with a sense of caution. After all, who knows what the next 100 days will hold. 'We are not past the turmoil, and I don't think we can pass the turmoil anytime soon,' Wealth Alliance's Diton said. 'Trump is who he is.' BLOOMBERG
