Shares of BRC Group Holdings, Inc. climbed sharply today after the company reported a third quarter net income available to common shareholders of $89.1 million, reversing a loss of $286.4 million in the same quarter last year. Basic and diluted earnings per share were $2.91, compared with a loss per share of $9.39 in Q3 2024. Trading volume more than doubled the 30-day average as investors reacted to the better-than-expected profitability and the resumption of timely SEC filings.

In Q3 2025 total revenues reached $277.9 million, up from $175.4 million a year earlier. Operating revenues were $244.1 million. Adjusted EBITDA totaled $112.2 million, swinging from a negative $89.5 million in Q3 2024, while operating adjusted EBITDA rose to $58.0 million from $12.0 million. The Capital Markets segment led the turnaround with $65.4 million in services and fee revenue and segment income of $60.7 million, the highest quarterly result since Q4 2023. Wealth Management net income improved from $0.8 million to $7.2 million despite a revenue decline, and the Communications division generated $12.0 million in segment income.

Total debt declined to $1.44 billion from $1.77 billion at year-end 2024, and net debt fell to $702.9 million from $1.06 billion, a reduction of over $120 million in the quarter driven by bond exchanges and asset appreciation. Cash and restricted cash stood at $185.5 million, down from $247.3 million at December 31, 2024, while securities and other investments increased to $315.5 million. The company filed Form 10-Qs for Q1, Q2 and Q3 2025 within 120 days, achieving Nasdaq reporting compliance ahead of the January deadline.