Kingsway Q3 net loss $0.68/share; revenue up 11% to $24.8M; adjusted EBITDA down to $2.3M

KINGSWAY FINANCIAL SERVICES INC

2023-Q3 EPS reported $0.97 revenue$77,376,000

Consolidated revenue up 11% to $24.8M; KSX revenue surged 97% to $7.5M on recent acquisitions.
Net loss of $0.68 per share vs net income of $37.3M in Q3 2022 (included $37.9M gain on sale of PWSC).
Adjusted EBITDA fell to $2.3M from $3.6M; Extended Warranty profitability impacted by higher claims.
Closed two all-cash acquisitions (SPI for $2.8M, DDI for $11.0M) and announced NICR deal for $7.9M.
Warrants fully exercised; repurchased 1.09M warrants and 0.25M shares for $5.9M YTD through Oct 31.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

KINGSWAY FINANCIAL SERVICES INC reported three and nine months ended September 30, 2023 results: revenue $24.8 million, EPS $0.68.

Period: three and nine months ended September 30, 2023
Revenue: $24.8 million
EPS: $0.68
Result: reported results

Exact text from the filing

Consolidated revenue increased 11% to $24.8 million for the three months ended September 30, 2023, compared to $22.4 million in prior year period

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Source: SEC EDGAR

accession 0001437749-23-030647

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