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Ambac Financial (AMBC)
NYSE:AMBC
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Earnings Data
Report Date
Mar 04, 2025TBA Not Confirmed
Period Ending
2024 (Q4)Consensus EPS Forecast
$0.06Last Year’s EPS
$0.32Same Quarter Last Year
Based on 0 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Nov 12, 2024
|% Change Since: 4.02%
|Next Earnings Date:Mar 04, 2025
Earnings Call Sentiment|Neutral
The earnings call highlighted Ambac's strategic growth initiatives, including successful acquisitions and expansions leading to increased premiums and a positive long-term outlook. However, the quarter was marked by a net loss due to substantial one-time expenses and challenges with the legacy Financial Guarantee business, balancing the overall sentiment.Company Guidance
During the third quarter 2024 earnings call for Ambac Financial Group, the company provided several key metrics reflecting its progress and future plans. Ambac reported a consolidated premium production of $260 million, marking an 86% increase over the previous year, with total premium production for the first three quarters reaching $611 million, up 68% year-over-year. The acquisition of Beat Capital contributed $64 million in premiums for the quarter. Ambac also accelerated its $50 million share buyback program and is on track to close the sale of its legacy Financial Guaranty business, which is anticipated by the first quarter of 2025. Despite a net loss of $28 million for the quarter, the company remains focused on organic growth, with a long-term EBITDA target of $70 million to $80 million by 2028. Everspan's gross written premiums reached $115 million, a 32% increase, and the combined ratio improved by 600 basis points to 100.5%. As Ambac transitions to a pure-play property and casualty (P&C) platform, it continues to monitor market conditions, particularly in the U.S. casualty lines, and seeks to further its growth through strategic MGA launches.Strategic Acquisition and Growth
Ambac advanced its strategy towards becoming a pure-play P&C business with the acquisition of Beat Capital and launched multiple new MGA programs, leading to strong organic growth.
Share Buyback Program
Announcement of the acceleration of a $50 million share buyback program, set to commence immediately.
Premium Growth
Specialty P&C insurance platform generated $260 million in premium, an 86% increase over last year.
Everspan's Improved Performance
Everspan's earned premiums and program fees increased by 125% and 50%, respectively, from the third quarter of 2023, with a combined ratio improvement of 600 basis points from the prior year period.
Positive Outlook and Future Goals
Ambac has set a 2028 EBITDA goal of $70 million to $80 million, driven by organic growth and strategic initiatives, and plans for a rebranding following the sale of its legacy business.
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AMBC Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
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AMBC Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Nov 12, 2024 | $11.70 | $12.89 | +10.17% |
| Aug 05, 2024 | $11.67 | $10.40 | -10.88% |
| May 06, 2024 | $15.12 | $18.04 | +19.31% |
| Feb 27, 2024 | $16.54 | $16.94 | +2.42% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
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FAQ
When does Ambac Financial (AMBC) report earnings?
Ambac Financial (AMBC) is schdueled to report earning on Mar 04, 2025, TBA Not Confirmed.
What is Ambac Financial (AMBC) earnings time?
Ambac Financial (AMBC) earnings time is at Mar 04, 2025, TBA Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is AMBC EPS forecast?
AMBC EPS forecast for the fiscal quarter 2024 (Q4) is $0.06.
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