MBIA Q2 2022 GAAP net loss $36M ($0.72/sh), improved from $61M loss a year ago

MBIA INC

2022-Q2 EPS reported -$2.20 revenue$80,000,000

GAAP net loss $36M ($0.72 per share) vs loss $61M ($1.23) in Q2 2021.
Improvement driven by mark-to-market gains on swaps, net gains on financial instruments, and favorable loss adjustment at MBIA Corp.
Book value per share negative $13.63, down from negative $5.73 at Dec 31, 2021 due to unrealized losses from higher rates.
Partially offset by investment-related net losses and higher losses at National from Puerto Rico HTA CVIs.
Adjusted Net Loss (non-GAAP) not specified in available exhibit text.

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