Burford Capital Ltd (BUR) Q3 Results Disappoints CEO Touts Underlying Growth amid Strong Business Activity

Burford Capital (NYSE:BUR) is one of the top undervalued asset management stocks to buy. On November 5, CEO Christopher Bogart reiterated that Burford Capital (NYSE:BUR) is growing at a rate that will enable it to double the size of the platform by 2030.

The remarks are in stark contrast to the disappointing third-quarter results, in which revenues came in at $69.8 million, a significant decline from the $249.11 million reported in the same quarter last year. The company reported a net loss of $20.27 million, compared to an income of $157.86 million in the same quarter of the previous year.

Amidst the disappointing financial results, the company experienced a 61% increase in third-quarter deployments, affirming strong business activity. The company kept up its growth pace, securing $637 million in new firm commitments, up 52% from the same period last year. It also broadened its operations across multiple regions to help spread out risk and strengthen its overall business mix.

Chris Bogart, CEO of Burford Capital, shared that the firm’s portfolio had been performing strongly, with cash returns reaching a new high over a rolling three-year period and 61 assets already generating income this year. He acknowledged the growing interest in the YPF case and expressed optimism about its outlook. At the same time, he pointed out that most of Burford’s operations are unrelated to YPF and continue to expand steadily.

Burford Capital (NYSE:BUR) provides financing and asset management services for law-related activities, with a focus on commercial litigation and arbitration. It also offers capital to businesses and law firms to fund legal fees and expenses, in return for which it receives a share of the recovery from the dispute.

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Disclosure: None. This article is originally published at Insider Monkey.