secwatch.observer — SEC 8-K summary
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Issuer:     MBIA INC (MBI)
CIK:        0000814585
Form:       8-K
Filed at:   2024-08-06T23:59:59+00:00
Accession:  0000950170-24-091879
Event type: earnings
Sentiment:  negative
Materiality: 0.80
Item codes: 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

MBIA Q2 net loss widens to $254M on PREPA losses; book value per share negative $39.07
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- GAAP net loss $254M ($5.34 diluted EPS) vs loss of $74M ($1.46) in Q2 2023; revenue figures not separately disclosed.
- Adjusted net loss $138M ($2.90 diluted) vs $22M loss; driven by higher losses on PREPA and Zohar CDO fair value declines.
- Book value per share worsened to negative $39.07 from negative $32.56 at Dec 31, 2023.
- CEO Bill Fallon: "PREPA exposure remains an important issue to be resolved to pursue a sale of MBIA Inc."
- National statutory capital $1.0B, claims-paying resources $1.6B, leverage 28:1; MBIA Corp statutory capital $85M.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/814585/000095017024091879/0000950170-24-091879-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/814585/000095017024091879/mbi-20240806.htm
  HTML page:      https://secwatch.observer/filing/0000950170-24-091879

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