Finance of America Q3 revenue misses, adjusted EPS beats

Reuters11-05
Finance of America Q3 revenue misses, adjusted EPS beats

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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