The following is a summary of the Burford Capital Limited (BUR) Q1 2024 Earnings Call Transcript:
Financial Performance:
Burford Capital Limited reported revenues of $31 million in Q1 2024, alongside a net loss of $0.14 per share.
The company had unprecedented Q1 cash receipts and solid gains, with gross realized gains amounting to $45 million.
Total assets were around $3.4 billion, including $1.6 billion in deployed costs and high-value YPF assets at $1.4 billion.Despite acknowledging some minor losses, Burford maintains a robust liquidity stance with over $500 million in cash and securities. The company also managed to issue $275 million additional high-yield debts, capitalizing on a thriving market.
Business Progress:
While Q1 2024 reportedly saw limited significant business activity, Burford's portfolio continues to perform optimally generating consistent returns.
An uplift in case activities led to a significant cash influx from five distinct assets, producing over $10 million each.
The company anticipates leveraging market opportunities in subsequent quarters based on the strength of its portfolio.
Prominent legal cases like YPF, Peterson, and Eton Park remain vital assets for Burford, with respective tentative proceeds standing at 35% and 73%.
The company continues to manage liquidity levels and cash needs efficiently, indicating a healthy debt capacity.
More details: Burford Capital IR
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