Overview
Finance of America Q3 revenue missed analyst expectations
Adjusted EPS for Q3 beats consensus, driven by origination gains and fee income
Company announces strategic partnership with Better.com to expand product offerings
Outlook
Company did not provide specific future guidance
Result Drivers
MODEL ASSUMPTIONS - Q3 net loss attributed to changes in model assumptions related to home price appreciation
ORIGINATION GAINS - Adjusted net income improved due to origination gains and fee income
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q3 Revenue | Miss | $81 mln | $101.90 mln (1 Analyst) |
Q3 Adjusted EPS | Beat | $1.33 | $0.67 (1 Analyst) |
Q3 EPS | -$1.22 | ||
Q3 Adjusted Net Income | Beat | $33 mln | $18.60 mln (1 Analyst) |
Q3 Adjusted EBITDA | $55 mln |
Analyst Coverage
The one available analyst rating on the shares is "hold"
The average consensus recommendation for the investment management & fund operators peer group is "buy."
Wall Street's median 12-month price target for Finance of America Companies Inc is $32.00, about 30.6% above its November 3 closing price of $22.21
The stock recently traded at 6 times the next 12-month earnings vs. a P/E of 7 three months ago
Press Release: ID:nBw9V9FVva
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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)
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