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Finance of America Companies Q2 Earnings Call Highlights
['Mitch Edgeman']
Markets Daily
Finance of America reaffirmed its full-year guidance for funded volume of $2.8 billion to $3.1 billion and adjusted earnings per share of $4.50 to $5.00.
GAAP Loss Reflects Fair-Value VolatilityFinance of America recorded a GAAP net loss of $29 million in the second quarter, compared with adjusted net income of $19 million.
For the first half, the segment’s adjusted net income increased 21% on 14% higher funded volume.
The segment recognized $46 million in adjusted net income during the first half, up 24% from the prior-year period.
About Finance of America Companies (NYSE:FOA)Finance of America Companies (NYSE: FOA) is a diversified nonbank financial services firm specializing in mortgage and insurance products for consumers.