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MBIA Inc (MBI)
NYSE:MBI
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Earnings Data
Report Date
Feb 27, 2025After Close Not Confirmed
Period Ending
2024 (Q4)Consensus EPS Forecast
-$0.07Last Year’s EPS
-$0.09Same Quarter Last Year
Moderate Buy
Based on 2 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Nov 07, 2024
|% Change Since: 43.94%
|Next Earnings Date:Feb 27, 2025
Earnings Call Sentiment|Neutral
The earnings call reflected improvements in financial performance with reduced net losses and statutory net incomes for National and MBIA Insurance Corp. However, there are significant challenges such as a consolidated GAAP net loss, decrease in book value per share, and ongoing uncertainties with the PREPA bankruptcy claim, which weigh heavily on the company's outlook.Company Guidance
During the MBI earnings call for the third quarter of 2024, the executives provided guidance indicating improved financial performance compared to the same period in the previous year. The company reported a consolidated GAAP net loss of $56 million, or negative $1.18 per share, which was a significant improvement from the $185 million loss, or negative $3.94 per share, recorded in Q3 2023. This improvement was primarily driven by lower losses related to variable interest entities and reduced loss and loss adjustment expenses associated with National's PREPA exposure. The gross par amount outstanding for National's insured portfolio decreased by approximately $2.5 billion to about $26 billion, and National's leverage ratio was 26:1. Additionally, National reported statutory net income of $19 million for the quarter, contrasting with a $133 million loss in the same quarter last year. As of September 30, 2024, National had total claims paying resources of $1.6 billion, with statutory capital and surplus amounting to $1 billion.Improved Financial Performance
Revenues and expenses both improved compared to last year's third quarter, resulting in a lower net loss than the previous year.
National's Statutory Net Income
National reported a statutory net income of $19 million for the third quarter of 2024, compared to a statutory net loss of $133 million for the third quarter of 2023.
Reduced Gross Par Amount
The gross par amount outstanding for National's insured portfolio declined by approximately $2.5 billion from year-end 2023 to about $26 billion at the end of the third quarter of 2024.
MBIA Insurance Corp. Statutory Net Income
MBIA Insurance Corp. reported a statutory net income of $2 million for the third quarter of 2024 compared to a statutory net loss of $14 million for the third quarter of 2023.
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MBI 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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MBI Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Nov 07, 2024 | $4.21 | $4.49 | +6.65% |
| Aug 06, 2024 | $4.06 | $3.75 | -7.64% |
| May 09, 2024 | $6.72 | $6.15 | -8.48% |
| Feb 28, 2024 | $6.88 | $6.53 | -5.09% |
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 MBIA Inc (MBI) report earnings?
MBIA Inc (MBI) is schdueled to report earning on Feb 27, 2025, After Close Not Confirmed.
What is MBIA Inc (MBI) earnings time?
MBIA Inc (MBI) earnings time is at Feb 27, 2025, After Close 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 MBI EPS forecast?
MBI EPS forecast for the fiscal quarter 2024 (Q4) is -$0.07.
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