DigitalBridge Group, Inc. (NYSE: DBRG) and subsidiaries announced last week its financial results for the fourth quarter and full-year ended December 31, 2022.
Marc Ganzi, CEO of DigitalBridge, said, “We are pleased to report a solid quarter of fundamental performance to close out 2022. Last year, we exceeded our fundraising targets for the year, firmly established the asset management platform as our growth driver through a series of strategic transactions, and most importantly, continued to support the growth of our resilient portfolio companies. As we look ahead to 2023, we remain focused on forming capital around the best investment opportunities in digital infrastructure and finalizing the simplification of our business profile to a scalable, asset-light investment manager levered to the powerful secular tailwinds in digital infra.”
DigitalBridge reported fourth quarter 2022 total revenues of $301 million, GAAP net loss attributable to common stockholders of $(19) million, or $(0.12) per share, and Distributable Earnings of $(11) million, or $(0.07) per share, and full-year 2022 total revenues of $1.1 billion, GAAP net loss attributable to common stockholders of $(382) million, or $(2.47) per share, and Distributable Earnings of $37 million, or $0.22 per share.
Fourth quarter 2022 net loss and DE included a $53 million non-cash valuation allowance against deferred tax assets of a subsidiary of the company.
On January 17, 2023, DigitalBridge paid a cash dividend of $0.01 per common share to shareholders of record at the close of business on December 31, 2022, and paid cash dividends with respect to each series of the company’s cumulative redeemable perpetual preferred stock in accordance with the terms of such series, as follows: Series H preferred stock: $0.4453125 per share; Series I preferred stock: $0.446875 per share; and Series J preferred stock: $0.4453125 per share, to the respective stockholders of record on January 10, 2023.
On February 17, 2023, the company’s Board of Directors declared a cash dividend of $0.01 per common share to be paid on April 17, 2023, to shareholders of record at the close of business on March 31, 2023.
A Fourth Quarter 2022 Earnings Presentation and a Supplemental Financial Report are available in the Events & Presentations and Financial Information sections, respectively, of the Shareholders tab on the company’s website at www.digitalbridge.com.
Reader Interactions