MBIA Q2 net loss widens to $74M ($1.46 loss per share) on VIE losses

MBIA INC

2023-Q2 EPS reported -$3.51 revenue$30,000,000

GAAP net loss of $74M ($1.46 per share) vs $36M loss ($0.72) in Q2 2022.
Book value per share worsened to negative $19.21 from negative $16.07 at year-end 2022.
Unfavorable variance on VIE consolidated financial instruments at MBIA Corp. drove the larger loss.
Adjusted Net Loss (non-GAAP) measure highlighted but no figure disclosed in the excerpt.

item 2.02 item 7.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

MBIA INC reported the second quarter of 2023 results: net income consolidated GAAP net loss of $74 million, or $(1.46) per share, EPS $(1.46) per share.

Period: the second quarter of 2023
Net income: consolidated GAAP net loss of $74 million, or $(1.46) per share
EPS: $(1.46) per share
Result: reported results

Exact text from the filing

MBIA Inc. (NYSE:MBI) (the Company) today reported a consolidated GAAP net loss of $74 million, or $(1.46) per share, for the second quarter of 2023

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Source: SEC EDGAR

accession 0001193125-23-201744

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