|Over a month ago|
MBIA reports Q4 EPS ($1.25), consensus (22c) » 16:3502/2702/27/20
Reports Q4 book value per…
Reports Q4 book value per share $10.40. The decrease in book value per share during 2019 was mainly due to the consolidated net loss for the year, partially offset by reduced share count from National's purchase of MBIA common shares.
|Over a quarter ago|
MBIA reports Q3 adjusted EPS $1.46 vs. (35c) last year » 10:2011/0611/06/19
On Tuesday, MBIA reported…
On Tuesday, MBIA reported Q3 revenue of $172M vs. $105M last year. Book value per share was $12.86 as of September 30, 2019 compared with $12.46 as of December 31, 2018. The increase in book value per share since year-end 2018 was primarily due to lower shares outstanding as a result of the 10.3 million shares of MBIA common stock repurchased by the company during the first nine months of 2019. The improved result from last year was primarily due to the $138M favorable variance of loss and loss adjustment expense at National, which primarily resulted from higher recoveries on its Puerto Rico credits in 2019 largely due to lower risk-free discounting rates versus a net loss and loss adjustment expense for the third quarter of 2018 that was primarily due to additional losses on its Puerto Rico credits. Bill Fallon, MBIA's CEO noted, "This quarter we repurchased $39.6M of MBIA common shares and nearly extinguished National's insured COFINA exposure, with gross par plus accreted interest declining from $1.2B at year-end 2018 to $65M at the end of the third quarter."
MBIA files automatic mixed securities shelf 12:1008/0708/07/19
MBIA reports Q1 adjusted EPS 45c, consensus (21c) » 16:2405/0805/08/19
Book value per share was…
Book value per share was $13.16 as of March 31, 2019 compared with $12.46 as of December 31, 2018. The increase in book value per share since year-end 2018 was primarily due to unrealized gains on fixed income investments resulting from lower interest rates. Bill Fallon, MBIA's CEO noted, "The restructuring of the Puerto Rico COFINA debt had a modest impact on our first quarter financial results and yielded a 31 percent reduction in National's COFINA insurance exposure. It also provided court validation to a substantial revenue source for the repayment of the new COFINA2 bonds."