secwatch.observer — SEC 8-K summary
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Issuer:     MBIA INC (MBI)
CIK:        0000814585
Form:       8-K
Filed at:   2024-05-09T23:59:59+00:00
Accession:  0000950170-24-057049
Event type: earnings
Sentiment:  negative
Materiality: 0.65
Item codes: 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

MBIA Q1 net loss $86M ($1.84/share); adjusted net loss $24M; book value negative $33.80
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- GAAP net loss of $86M ($1.84/diluted share) vs $93M loss ($1.86) in Q1 2023.
- Adjusted net loss (non-GAAP) widened to $24M ($0.52/share) from $1M ($0.03) a year ago.
- Higher losses on PREPA exposure at National drove increase in loss adjustment expenses.
- Book value per share worsened to negative $33.80 from negative $32.56 at Dec 31, 2023.
- National statutory capital $1.1B; insured par $27.8B; MBIA Inc. liquidity $376M; no share repurchases.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/814585/000095017024057049/0000950170-24-057049-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/814585/000095017024057049/mbi-20240509.htm
  HTML page:      https://secwatch.observer/filing/0000950170-24-057049

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer