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Finance of America Companies (FOA)
NYSE:FOA
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Earnings Data
Report Date
Feb 26, 2025TBA Not Confirmed
Period Ending
2024 (Q4)Consensus EPS Forecast
$0.46Last Year’s EPS
-$0.9Same Quarter Last Year
Based on 1 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Nov 06, 2024
|% Change Since: 78.11%
|Next Earnings Date:Feb 26, 2025
Earnings Call Sentiment|Positive
The earnings call highlighted substantial revenue growth and positive financial results driven by strategic initiatives and operational efficiency improvements. The company demonstrated strong adaptability to market conditions, although challenges such as increased interest expenses and potential rate volatility impacts were noted.Company Guidance
During the Finance of America's Q3 2024 earnings call, the company reported substantial financial performance improvements, notably achieving a net income of $204 million and adjusted net income of $15 million, resulting in basic earnings per share of $8.48 and adjusted earnings per share of $0.67. The company's adjusted EBITDA reached $32 million, supported by a funded volume of $513 million, surpassing their guidance range of $475 million to $500 million. Finance of America's strategic initiatives, including the completion of a reverse stock split and exchange offer for 2025 unsecured notes, have enhanced financial flexibility. The retail channel experienced a 38% productivity increase, while the HomeSafe Second product saw an 89% increase in loans compared to Q2. Looking ahead, the company projects adjusted earnings per share between $2.60 and $3 for 2025, with anticipated volume growth reaching approximately $2.7 billion for the full year.Significant Revenue Increase
Revenue increased from $79 million in Q2 to $290 million in Q3, driven by higher origination volumes and significant fair value gains on residual assets.
Positive Net Income and Earnings Per Share
Finance of America reported $204 million in net income, or $8.48 in basic earnings per share, and $15 million in adjusted net income, or $0.67 in adjusted earnings per share.
Improved Operational Efficiency
Total expenses decreased due to cost-saving initiatives, with the largest reduction in salaries and benefits. Retail channel productivity improved by 38% compared to the prior quarter.
Successful Strategic Initiatives
Completion of a reverse stock split and the exchange offer of 2025 unsecured notes, enhancing the balance sheet and financial flexibility.
Growth in HomeSafe Second Loans
HomeSafe Second loans increased by 89% compared to Q2, expanding to additional states and offering lower interest rates.
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FOA 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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FOA Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Nov 06, 2024 | $14.48 | $14.00 | -3.31% |
| Aug 06, 2024 | $7.21 | $7.14 | -0.97% |
| May 06, 2024 | $6.00 | $6.00 | 0.00% |
| Mar 06, 2024 | $8.70 | $8.56 | -1.61% |
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 Finance of America Companies (FOA) report earnings?
Finance of America Companies (FOA) is schdueled to report earning on Feb 26, 2025, TBA Not Confirmed.
What is Finance of America Companies (FOA) earnings time?
Finance of America Companies (FOA) earnings time is at Feb 26, 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 FOA EPS forecast?
FOA EPS forecast for the fiscal quarter 2024 (Q4) is $0.46.
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