Associated Capital Group, Inc. Provides Earnings Guidance for the Fourth Quarter and Full Year Ended December 31, 2017
January 26, 2018 at 06:23 pm EST
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Associated Capital Group, Inc. provided earnings guidance for the fourth quarter and full year ended December 31, 2017. Diluted EPS for the fourth quarter is expected to be within the range of $0.65 to $0.75 compared to $0.15 for the fourth quarter of 2016. The fourth quarter 2017 estimated results include an income tax benefit related to the enactment of the Tax Cuts and Jobs Act. This benefit, which is based on reasonable estimates, may require adjustment due to receipt of additional information from investment funds, changes in the Company’s assumptions, and the availability of further guidance and interpretations.
Full year EPS is expected to be within the range of $0.35 to $0.45 compared to $0.41 for 2016. GAAP book value is expected to be within the range of $38.80 to $39.00 per share at December 31, 2017, up from $36.04 at December 31, 2016. Adjusted economic book value per share at December 31, 2017 is expected to be within the range of $40.90 to $41.10.
Associated Capital Group, Inc. is a diversified global financial services company. The Company provides alternative investment management services and operates a direct investment business that invests in businesses that fit its criteria over time. The Company conducts its investment management activities through its wholly owned subsidiary Gabelli & Company Investment Advisers, Inc. (GCIA) and its wholly owned subsidiary, Gabelli & Partners, LLC (Gabelli & Partners). GCIA and Gabelli & Partners together serve as general partners or investment managers to investment funds, including limited partnerships and offshore companies (collectively, Investment Partnerships), and separate accounts. It primarily manages assets across a range of risk and event arbitrage portfolios and in equity event-driven value strategies. It serves a variety of investors globally, including private wealth management clients, corporations, corporate pension and profit-sharing plans, foundations and endowments.
ASSOCIATED CAPITAL GROUP, INC. 
